DFX Intelligence
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Borrower
L••••••• C•••
Aerospace & Defensegroup grade Aoff every schedule since Jun 30, 2024sponsor unattributed
Nothing material in the last 200 days. Last change: 30 Jun 2024, $182M principal held by 4 lenders; matures Jul 2028.
Mark path, consensus per quarter end
97¢ · 98¢ · 99¢ · 100¢ · 101¢Q2 2023 to Q2 2024
Where each lender marks it on the first lien term loan, 0 points apart
101¢101¢
Principal held
at least $182M
sum of BDC pieces, a lower bound
Fair value
$182M
101c on cost, debt pieces
Unfunded
Not disclosed
commitments not yet drawn
BDC lenders
5
4 on the latest quarter
Facilities
4
0 equity pieces beside them
Next maturity
Jul 28, 2028
no dated debt inside 24 months
On the tape since
Dec 31, 2021
latest Jun 30, 2024
Events
6
dated, non-routine
Lender marks
each lender's own fair value over cost at Jun 30, 2024, folded to one row per lender
| Lender | Exposure | Current mark | QoQ change |
|---|---|---|---|
| B••••••••• P•••••• C••••• F••• | $153M | 101¢ | +1 pts |
| C•••••• C••••• S••••••••• I••• | $9.73M | 101¢ | +3 pts |
| C•••••• S•••••• L••••••• I••• | $9.73M | 101¢ | +3 pts |
| B••••••••• S•••••• L•••••• F••• | $9.69M | 101¢ | +1 pts |
Every BDC piece · 4 positions across 4 lenderslargest principal first, with instrument and rate
| BDC | Instrument | Principal | Fair value | Rate |
|---|---|---|---|---|
| B••••••••• P•••••• C••••• F••• | delayed draw term loan lien unstated | $153M | $153M 101c | S+575 bp |
| C•••••• C••••• S••••••••• I••• | term loan first lien F•••• L••• D••• | $9.7M | $9.7M 101c | S+575 bp |
| C•••••• S•••••• L••••••• I••• | term loan first lien F•••• L••• D••• | $9.7M | $9.7M 101c | S+575 bp |
| B••••••••• S•••••• L•••••• F••• | delayed draw term loan lien unstated | $9.7M | $9.7M 101c | S+575 bp |
Capital structure as the BDCs see it
latest quarter end Jun 30, 2024
| Facility | Held | On cost | Pricing | Maturity | BDCs |
|---|---|---|---|---|---|
| other lien unstated exited Dec 31, 2022 | at least $165M | 97c | S+575 bp | Jul 28, 2028 | 2 |
| delayed draw term loan lien unstated exited Jun 30, 2024 | at least $163M | 101c | S+575 bp | Jul 28, 2028 | 2 |
| first lien term loan first lien exited Jun 30, 2024 | at least $19.4M | 101c | S+575 bp | Jul 28, 2028 | 2 |
| second lien delayed draw term loan second lien exited Dec 31, 2022 | unknown | n/a | 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 |
|---|---|---|---|---|---|
| Jun 30, 2024 | 4 | $182M | $182M | 101c | 0 |
| Mar 31, 2024 | 4 | $183M | $180M | 100c | 0 |
| Dec 31, 2023 | 4 | $203M | $199M | 99c | 0 |
| Sep 30, 2023 | 4 | $184M | $178M | 98c | 0 |
All 9 quartersShow fewer
| Quarter end | BDCs | Principal held | Fair value | On cost | PIK pieces |
|---|---|---|---|---|---|
| Jun 30, 2023 | 4 | $184M | $176M | 97c | 0 |
| Mar 31, 2023 | 4 | $185M | $176M | 97c | 0 |
| Dec 31, 2022 | 5 | $195M | $185M | 97c | 0 |
| Sep 30, 2022 | 3 | $176M | $170M | 98c | 0 |
| Dec 31, 2021 | 3 | $185M | $180M | 100c | 0 |
What changed
- Facility left every BDC scheduleJun 30, 2024
- Facility left every BDC scheduleJun 30, 2024
- Facility left every BDC scheduleDec 31, 2022
- Facility left every BDC scheduleDec 31, 2022
- Marked down across lendersSep 30, 2022
Full timeline · 7 eventsShow fewer
- Marked down (one lender)Sep 30, 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
- LINQUESTderivedthe codename stem after legal suffixes and deal words
- Spellings
- 1 across 5 BDCsderived
- Industry
- Aerospace & Defensereportedas one filer wrote it