DFX Intelligence
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Borrower
T•• F••• P••••••
group grade Aoff every schedule since Mar 31, 2025sponsor unattributed
Also written as: PBC
Nothing material in the last 200 days. Last change: 31 Mar 2025, Consensus mark 83¢ on cost, down from 100¢ a year ago, 85¢ last quarter.
Mark path, consensus per quarter end
100¢ · 85¢ · 85¢ · 85¢ · 83¢Q1 2024 to Q1 2025
Principal held
at least $2.0M
sum of BDC pieces, a lower bound
Fair value
$1.7M
83c on cost, debt pieces
Unfunded
Not disclosed
commitments not yet drawn
BDC lenders
1
1 on the latest quarter
Facilities
1
0 equity pieces beside them
Next maturity
unstated
no dated debt inside 24 months
On the tape since
Dec 31, 2022
latest Mar 31, 2025
Events
2
dated, non-routine
Lender marks
each lender's own fair value over cost at Mar 31, 2025, folded to one row per lender
| Lender | Exposure | Current mark | QoQ change |
|---|---|---|---|
| V•••••• L•••••• • L•••••• I•• I••• | $2.02M | 83¢ | -2 pts |
Every BDC piece · 1 position across 1 lenderlargest principal first, with instrument and rate
| BDC | Instrument | Principal | Fair value | Rate |
|---|---|---|---|---|
| V•••••• L•••••• • L•••••• I•• I••• | term loan first lien S••••• S•••••• | $2.0M | $1.7M 83c | 15.00% |
Capital structure as the BDCs see it
latest quarter end Mar 31, 2025
| Facility | Held | On cost | Pricing | Maturity | BDCs |
|---|---|---|---|---|---|
| first lien term loan first lien exited Mar 31, 2025 | at least $2.0M | 83c | 15.00% | unstated | 1 |
Through time
the borrower's pieces summed across BDCs, every quarter end
| Quarter end | BDCs | Principal held | Fair value | On cost | PIK pieces |
|---|---|---|---|---|---|
| Mar 31, 2025 | 1 | $2.0M | $1.7M | 83c | 0 |
| Dec 31, 2024 | 1 | $4.5M | $3.8M | 85c | 0 |
| Sep 30, 2024 | 1 | $2.3M | $1.9M | 85c | 0 |
| Jun 30, 2024 | 1 | $2.3M | $1.9M | 85c | 0 |
All 10 quartersShow fewer
| Quarter end | BDCs | Principal held | Fair value | On cost | PIK pieces |
|---|---|---|---|---|---|
| Mar 31, 2024 | 1 | $2.4M | $2.4M | 100c | 0 |
| Dec 31, 2023 | 1 | $2.6M | $2.6M | 100c | 0 |
| Sep 30, 2023 | 1 | $2.8M | $2.7M | 100c | 0 |
| Jun 30, 2023 | 1 | $3.0M | $2.9M | 100c | 0 |
| Mar 31, 2023 | 1 | $3.4M | $3.3M | 100c | 0 |
| Dec 31, 2022 | 1 | $3.7M | $3.5M | 100c | 0 |
What changed
- Facility left every BDC scheduleMar 31, 2025
- Marked down across lendersJun 30, 2024
- Marked down (one lender)Jun 30, 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
- FARM PROJECTderivedthe codename stem after legal suffixes and deal words
- Spellings
- 1 across 1 BDCderived