DFX Intelligence
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Borrower
N••••• H•••••••• L••
IT Servicesgroup grade Boff every schedule since Feb 29, 2024sponsor unattributed
Nothing material in the last 200 days. No dated change on record yet.
Principal held
at least $61.9M
sum of BDC pieces, a lower bound
Fair value
$70.8M
98c on cost, debt pieces
Unfunded
Not disclosed
commitments not yet drawn
BDC lenders
1
1 on the latest quarter
Facilities
2
1 equity pieces beside them
Next maturity
Dec 31, 2025
$61.9M inside 24 months
On the tape since
Feb 29, 2024
latest Feb 29, 2024
Events
2
dated, non-routine
Lender marks
each lender's own fair value over cost at Feb 29, 2024, folded to one row per lender
| Lender | Exposure | Current mark | QoQ change |
|---|---|---|---|
| S••••••• I••••••••• C•••• | $61.9M | 98¢ | new this quarter |
Every BDC piece · 6 positions across 1 lenderlargest principal first, with instrument and rate
| BDC | Instrument | Principal | Fair value | Rate |
|---|---|---|---|---|
| S••••••• I••••••••• C•••• | delayed draw term loan lien unstated D•••••• D••• T••• L••• (3M USD T••• S••• +6.50%), 11.98% C•••/3.50% PIK, 12/31/2025 | $25.3M | $24.8M 98c | S+650 bp PIK 3.50% |
| S••••••• I••••••••• C•••• | delayed draw term loan lien unstated D•••••• D••• T••• L••• (3M USD T••• S••• +6.50%), 11.98% C•••/3.50% PIK, 12/31/2025 | $25.3M | $24.8M 98c | S+650 bp PIK 3.50% |
| S••••••• I••••••••• C•••• | term loan first lien F•••• L••• T••• L••• (3M USD T••• S••• +6.50%), 11.98% C•••/3.50% PIK 12/31/2025 | $5.7M | $5.6M 98c | S+650 bp PIK 3.50% |
| S••••••• I••••••••• C•••• | term loan first lien F•••• L••• T••• L••• (3M USD T••• S••• +6.50%), 11.98% C•••/3.50% PIK 12/31/2025 | $5.7M | $5.6M 98c | S+650 bp PIK 3.50% |
| S••••••• I••••••••• C•••• | equity equity C••••• S•••• C•••• A U•••• | $4.6M | $5.1M 61c |
View all 6 positionsShow fewerlargest principal first
| BDC | Instrument | Principal | Fair value | Rate |
|---|---|---|---|---|
| S••••••• I••••••••• C•••• | equity equity C••••• S•••• C•••• A U•••• | $4.6M | $5.1M 61c |
Capital structure as the BDCs see it
latest quarter end Feb 29, 2024
| Facility | Held | On cost | Pricing | Maturity | BDCs |
|---|---|---|---|---|---|
| delayed draw term loan lien unstated exited Feb 29, 2024 | at least $50.5M | 98c | S+650 bp PIK 3.50% | Dec 31, 2025 | 1 |
| first lien term loan first lien exited Feb 29, 2024 | at least $11.4M | 98c | S+650 bp PIK 3.50% | Dec 31, 2025 | 1 |
Equity pieces beside the debt: equity ($10.1M fair value, 1 BDC)
Through time
the borrower's pieces summed across BDCs, every quarter end
| Quarter end | BDCs | Principal held | Fair value | On cost | PIK pieces |
|---|---|---|---|---|---|
| Feb 29, 2024 | 1 | $61.9M | $60.7M | 98c | 4 |
What changed
- Facility left every BDC scheduleFeb 29, 2024
- Facility left every BDC scheduleFeb 29, 2024
Sponsor
No sponsor attribution: no portfolio page, deal announcement or Form D signer consensus names an owner for this borrower group.
Identity
- Group key
- NETREOderivedthe codename stem after legal suffixes and deal words
- Spellings
- 1 across 1 BDCderived
- Industry
- IT Servicesreportedas one filer wrote it