DFX Intelligence
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Borrower
R•••• P••••••••• L••
group grade Aoff every schedule since Jun 30, 2023sponsor unattributed
Nothing material in the last 200 days. Last change: 30 Jun 2023, $210M principal held by 2 lenders; matures Aug 2028.
Mark path, consensus per quarter end
101¢ · 100¢ · 101¢ · 102¢ · 101¢Q4 2021 to Q2 2023
Principal held
at least $210M
sum of BDC pieces, a lower bound
Fair value
$209M
101c on cost, debt pieces
Unfunded
$35.7M
commitments not yet drawn
BDC lenders
2
2 on the latest quarter
Facilities
2
0 equity pieces beside them
Next maturity
Aug 30, 2028
no dated debt inside 24 months
On the tape since
Dec 31, 2021
latest Jun 30, 2023
Events
2
dated, non-routine
Lender marks
each lender's own fair value over cost at Jun 30, 2023, folded to one row per lender
| Lender | Exposure | Current mark | QoQ change |
|---|---|---|---|
| B••••••••• P•••••• C••••• F••• | $175M | 101¢ | -1 pts |
| B••••••••• S•••••• L•••••• F••• | $34.5M | 101¢ | -1 pts |
Every BDC piece · 4 positions across 2 lenderslargest principal first, with instrument and rate
| BDC | Instrument | Principal | Fair value | Rate |
|---|---|---|---|---|
| B••••••••• P•••••• C••••• F••• | revolver lien unstated | $175M | $175M 101c | S+600 bp |
| B••••••••• S•••••• L•••••• F••• | revolver lien unstated | $34.5M | $34.4M 101c | S+600 bp |
| B••••••••• P•••••• C••••• F••• | revolver lien unstated R••••••• | Not disclosed | Not disclosed | S+600 bp |
| B••••••••• S•••••• L•••••• F••• | revolver lien unstated R••••••• | Not disclosed | Not disclosed | S+600 bp |
Capital structure as the BDCs see it
latest quarter end Jun 30, 2023
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, 2023 | 2 | $210M | $209M | 101c | 0 |
| Mar 31, 2023 | 2 | $210M | $210M | 102c | 0 |
| Dec 31, 2022 | 2 | $223M | $222M | 101c | 0 |
| Sep 30, 2022 | 2 | $248M | $245M | 100c | 0 |
All 5 quartersShow fewer
| Quarter end | BDCs | Principal held | Fair value | On cost | PIK pieces |
|---|---|---|---|---|---|
| Dec 31, 2021 | 2 | $250M | $247M | 101c | 0 |
What changed
- Facility left every BDC scheduleJun 30, 2023
- Facility left every BDC scheduleDec 31, 2022
Sponsor
No sponsor attribution: no portfolio page, deal announcement or Form D signer consensus names an owner for this borrower group.
Identity
- Group key
- RELAYderivedthe codename stem after legal suffixes and deal words
- Spellings
- 1 across 2 BDCsderived