DFX Intelligence
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Borrower
W•••• F•••••• A••••••••• L••••
group grade Aoff every schedule since Mar 31, 2023sponsor unattributed
Also written as: First Lein
Nothing material in the last 200 days. Last change: 31 Mar 2023, Consensus mark 50¢ on cost, down from 102¢ in Q4 2021, 59¢ last quarter.
Mark path, consensus per quarter end
102¢ · 69¢ · 59¢ · 50¢Q4 2021 to Q1 2023
Principal held
at least $16.6M
sum of BDC pieces, a lower bound
Fair value
$8.2M
50c on cost, debt pieces
Unfunded
$1.0M
commitments not yet drawn
BDC lenders
2
1 on the latest quarter
Facilities
1
1 equity pieces beside them
Next maturity
Apr 30, 2023
$2.0M inside 24 months
On the tape since
Dec 31, 2021
latest Mar 31, 2023
Events
6
dated, non-routine
Lender marks
each lender's own fair value over cost at Mar 31, 2023, folded to one row per lender
| Lender | Exposure | Current mark | QoQ change |
|---|---|---|---|
| M••• S••••• C•••••• C••• | $16.6M | 50¢ | -9 pts |
Every BDC piece · 3 positions across 1 lenderlargest principal first, with instrument and rate
| BDC | Instrument | Principal | Fair value | Rate |
|---|---|---|---|---|
| M••• S••••• C•••••• C••• | term loan lien unstated S•••••• D••• 2 | $14.6M | $6.2M 44c | S+575 bp |
| M••• S••••• C•••••• C••• | term loan lien unstated S•••••• D••• 1 | $2.0M | $2.0M 100c | S+525 bp PIK 4.75% |
| M••• S••••• C•••••• C••• | unstated lien unstated | Not disclosed | Not disclosed |
Capital structure as the BDCs see it
latest quarter end Mar 31, 2023
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, 2023 | 1 | $16.6M | $8.2M | 50c | 1 |
| Dec 31, 2022 | 1 | $14.6M | $8.4M | 59c | 0 |
| Sep 30, 2022 | 1 | $14.7M | $9.9M | 69c | 0 |
| Dec 31, 2021 | 1 | $30.0M | $29.8M | 102c | 0 |
What changed
- Spread changed (observed)Mar 31, 2023
- Facility left every BDC scheduleMar 31, 2023
- Marked down across lendersMar 31, 2023
- PIK interest appearsMar 31, 2023
- Marked down (one lender)Mar 31, 2023
Full timeline · 9 eventsShow fewer
- PIK interest appearsMar 31, 2023
- Marked down across lendersDec 31, 2022
- Marked down (one lender)Dec 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
- WAHOO FITNESSderivedthe codename stem after legal suffixes and deal words
- Spellings
- 1 across 2 BDCsderived