DFX Intelligence
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Borrower
C••••• A••••••••• V•••••••• G••••• L••
A•••••••••group grade Aoff every schedule since Dec 31, 2023sponsor unattributed
Also written as: C••••• A••••••••• V•••••••• Inc
Nothing material in the last 200 days. Last change: 31 Dec 2023, Non-accrual at 1 of 1 lender on the latest schedules.
Mark path, consensus per quarter end
28¢ · 28¢ · 28¢ · 31¢Q4 2022 to Q4 2023
Principal held
at least $8.0M
sum of BDC pieces, a lower bound
Fair value
$398,000
31c 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 Dec 31, 2023
Events
3
dated, non-routine
Lender marks
each lender's own fair value over cost at Dec 31, 2023, folded to one row per lender
| Lender | Exposure | Current mark | QoQ change |
|---|---|---|---|
| M••••• F•••••••• I••••••••• C••• | $7.97M | 31¢ | +3 pts |
Every BDC piece · 2 positions across 1 lenderlargest principal first, with instrument and rate
| BDC | Instrument | Principal | Fair value | Rate |
|---|---|---|---|---|
| M••••• F•••••••• I••••••••• C••• | term loan first lien F•••• L••• S•••••• D••• 11.00% (7.00% C••• plus 4.00% PIK) M••••••• D••• 02/02/23 | $5.9M | $293,000 33c | 0.11% PIK 4.00% |
| M••••• F•••••••• I••••••••• C••• | term loan first lien F•••• L••• S•••••• D••• 11.00% (7.00% C••• plus 4.00% PIK) M••••••• D••• 02/02/23 | $2.1M | $105,000 27c | 0.11% PIK 4.00% |
Capital structure as the BDCs see it
latest quarter end Dec 31, 2023
| Facility | Held | On cost | Pricing | Maturity | BDCs |
|---|---|---|---|---|---|
| first lien term loan first lien exited Dec 31, 2023 | at least $8.0M | 31c | 0.11% PIK 4.00% | Feb 2, 2023 | 1 |
Through time
the borrower's pieces summed across BDCs, every quarter end
| Quarter end | BDCs | Principal held | Fair value | On cost | PIK pieces |
|---|---|---|---|---|---|
| Dec 31, 2023 | 1 | $8.0M | $398,000 | 31c | 2 |
| Sep 30, 2023 | 1 | $8.0M | $359,000 | 28c | 2 |
| Jun 30, 2023 | 1 | $8.0M | $359,000 | 28c | 2 |
| Mar 31, 2023 | 1 | $0 | $359,000 | n/a | 2 |
All 5 quartersShow fewer
| Quarter end | BDCs | Principal held | Fair value | On cost | PIK pieces |
|---|---|---|---|---|---|
| Dec 31, 2022 | 1 | $8.0M | $718,000 | 56c | 4 |
What changed
- Facility left every BDC scheduleDec 31, 2023
- Spread changed (observed)Mar 31, 2023
- New borrower on a 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
- CROWNE AUTOMOTIVE VARI FORMderivedthe codename stem after legal suffixes and deal words
- Spellings
- 2 across 1 BDCderived
- Industry
- A•••••••••reportedas one filer wrote it