DFX Intelligence
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Borrower
M• C• P• S••• A•••••••••
group grade Aoff every schedule since Sep 30, 2023sponsor unattributed
Also written as: Equity Securities; MCP S••• A•••••••••, LLC
Nothing material in the last 200 days. No dated change on record yet.
Mark path, consensus per quarter end
101¢ · 101¢ · 101¢ · 101¢ · 101¢Q3 2022 to Q3 2023
Where each lender marks it on the first lien term loan, 0 points apart
101¢101¢
Principal held
at least $27.6M
sum of BDC pieces, a lower bound
Fair value
$25.2M
101c on cost, debt pieces
Unfunded
Not disclosed
commitments not yet drawn
BDC lenders
2
2 on the latest quarter
Facilities
3
1 equity pieces beside them
Next maturity
Nov 28, 2025
no dated debt inside 24 months
On the tape since
Dec 31, 2021
latest Sep 30, 2023
Events
6
dated, non-routine
Lender marks
each lender's own fair value over cost at Sep 30, 2023, folded to one row per lender
| Lender | Exposure | Current mark | QoQ change |
|---|---|---|---|
| M••••• C•••••• C••• | $15.3M | 101¢ | 0 pts |
| M••••• C•••••• I••••• P••• C••• | $12.3M | 101¢ | 0 pts |
Every BDC piece · 10 positions across 2 lenderslargest principal first, with instrument and rate
| BDC | Instrument | Principal | Fair value | Rate |
|---|---|---|---|---|
| M••••• C•••••• C••• | term loan first lien S••••• S•••••• L••••, T••••, due 11/28/2025 | $9.6M | $9.6M 101c | SOFR+626 bp |
| M••••• C•••••• I••••• P••• C••• | term loan first lien S••••• S•••••• L••••, One, Due 11/28/2025 | $7.7M | $7.7M 101c | SOFR+626 bp |
| M••••• C•••••• C••• | term loan first lien S••••• S•••••• L••••, Two, due 11/28/2025 | $2.9M | $3.0M 102c | SOFR+626 bp |
| M••••• C•••••• I••••• P••• C••• | term loan first lien S••••• S•••••• L••••, One, due 11/28/2025 | $2.4M | $2.4M 102c | SOFR+626 bp |
| M••••• C•••••• C••• | revolver first lien R•••••••), S••••• S•••••• L••••, due 11/28/2025 | $1.8M | Not disclosed | SOFR+626 bp |
View all 10 positionsShow fewerlargest principal first
| BDC | Instrument | Principal | Fair value | Rate |
|---|---|---|---|---|
| M••••• C•••••• I••••• P••• C••• | revolver first lien R•••••••), S••••• S•••••• L••••, due 11/28/2025 | $1.4M | Not disclosed | SOFR+626 bp |
| M••••• C•••••• C••• | term loan first lien S••••• S•••••• L••••, One, due 11/28/2025 | $968,000 | $973,000 101c | SOFR+626 bp |
| M••••• C•••••• I••••• P••• C••• | term loan first lien S••••• S•••••• L••••, T••••, due 11/28/2025 | $774,000 | $778,000 101c | SOFR+626 bp |
| M••••• C•••••• C••• | equity equity C•••• A-2 units | Not disclosed | $432,000 363c | |
| M••••• C•••••• I••••• P••• C••• | equity equity C•••• A-2 units | Not disclosed | $346,000 364c |
Capital structure as the BDCs see it
latest quarter end Sep 30, 2023
| Facility | Held | On cost | Pricing | Maturity | BDCs |
|---|---|---|---|---|---|
| first lien term loan first lien exited Sep 30, 2023 | at least $24.4M | 101c | SOFR+626 bp | Nov 28, 2025 | 2 |
| first lien revolver first lien exited Sep 30, 2023 | at least $3.2M | n/a | SOFR+626 bp | Nov 28, 2025 | 2 |
| first lien delayed draw term loan first lien exited Dec 31, 2022 | at least $978,000 | 100c | SOFR+650 bp | Nov 28, 2025 | 1 |
Equity pieces beside the debt: equity ($778,000 fair value, 2 BDCs)
Through time
the borrower's pieces summed across BDCs, every quarter end
| Quarter end | BDCs | Principal held | Fair value | On cost | PIK pieces |
|---|---|---|---|---|---|
| Sep 30, 2023 | 2 | $27.6M | $24.4M | 101c | 0 |
| Jun 30, 2023 | 2 | $27.6M | $24.4M | 101c | 0 |
| Mar 31, 2023 | 2 | $27.8M | $24.5M | 101c | 0 |
| Dec 31, 2022 | 2 | $56.6M | $50.3M | 101c | 0 |
All 6 quartersShow fewer
| Quarter end | BDCs | Principal held | Fair value | On cost | PIK pieces |
|---|---|---|---|---|---|
| Sep 30, 2022 | 1 | $15.5M | $13.7M | 101c | 0 |
| Dec 31, 2021 | 1 | $15.5M | $12.7M | 101c | 0 |
What changed
- Facility left every BDC scheduleSep 30, 2023
- Facility left every BDC scheduleSep 30, 2023
- Spread changed (observed)Mar 31, 2023
- Spread changed (observed)Mar 31, 2023
- New lender joined a facilityDec 31, 2022
Full timeline · 8 eventsShow fewer
- New lender joined a facilityDec 31, 2022
- Facility left every BDC scheduleDec 31, 2022
- New borrower on a BDC scheduleDec 31, 2021
Sponsor
No sponsor attribution: no portfolio page, deal announcement or Form D signer consensus names an owner for this borrower group.
Identity
- Group key
- MCP SHAWderivedthe codename stem after legal suffixes and deal words
- Spellings
- 2 across 2 BDCsderived