DFX Intelligence
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Borrower
B••••• S••••••••• A••••••••• L••
Textiles, Apparel & Luxury Goodsgroup grade Aoff every schedule since Dec 31, 2023sponsor unattributed
Also written as: B••••• S•••••••••, Inc
Nothing material in the last 200 days. Last change: 31 Dec 2023, Consensus mark 96¢ on cost, down from 100¢ a year ago, 98¢ last quarter.
Mark path, consensus per quarter end
100¢ · 100¢ · 100¢ · 98¢ · 96¢Q4 2022 to Q4 2023
Principal held
at least $131M
sum of BDC pieces, a lower bound
Fair value
$126M
96c on cost, debt pieces
Unfunded
Not disclosed
commitments not yet drawn
BDC lenders
3
3 on the latest quarter
Facilities
3
0 equity pieces beside them
Next maturity
Jan 7, 2024
$131M inside 24 months
On the tape since
Dec 31, 2021
latest Dec 31, 2023
Events
4
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 |
|---|---|---|---|
| A••• C•••••• C••• | $114M | 95¢ | -3 pts |
| G•••••• S•••• B••• I••• | $13.9M | 99¢ | +1 pts |
| N••••• C•••••••• D••••• L•••••• C•••• | $3.8M | 100¢ | +2 pts |
Every BDC piece · 5 positions across 3 lenderslargest principal first, with instrument and rate
| BDC | Instrument | Principal | Fair value | Rate |
|---|---|---|---|---|
| A••• C•••••• C••• | term loan second lien S••••• lien senior secured loan 1 | $56.8M | $54.0M 95c | S+900 bp |
| A••• C•••••• C••• | term loan second lien S••••• lien senior secured loan | $56.8M | $54.0M 95c | S+900 bp |
| G•••••• S•••• B••• I••• | term loan first lien 1st L•••/S••••• S•••••• D••• I••••••• T•••••••, A•••••• & L••••• G•••• I••••••• R••• 10.94 | $6.9M | $6.9M 99c | S+450 bp |
| G•••••• S•••• B••• I••• | term loan first lien 1st L•••/S••••• S•••••• D••• I••••••• T•••••••, A•••••• & L••••• G•••• I••••••• R••• 10.94 | $6.9M | $6.9M 99c | S+450 bp |
| N••••• C•••••••• D••••• L•••••• C•••• | unstated lien unstated | $3.8M | $3.8M 100c | S+450 bp |
Capital structure as the BDCs see it
latest quarter end Dec 31, 2023
| Facility | Held | On cost | Pricing | Maturity | BDCs |
|---|---|---|---|---|---|
| second lien term loan second lien exited Dec 31, 2023 | at least $114M | 95c | S+900 bp | Jun 1, 2024 | 1 |
| first lien term loan first lien exited Dec 31, 2023 | at least $13.9M | 99c | S+450 bp | Jan 21, 2024 | 1 |
| other lien unstated exited Dec 31, 2023 | at least $3.8M | 100c | S+450 bp | Jan 7, 2024 | 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 | 3 | $131M | $126M | 96c | 0 |
| Sep 30, 2023 | 3 | $67.6M | $66.1M | 98c | 0 |
| Jun 30, 2023 | 3 | $67.6M | $60.6M | 100c | 0 |
| Mar 31, 2023 | 3 | $67.6M | $60.5M | 100c | 0 |
All 7 quartersShow fewer
| Quarter end | BDCs | Principal held | Fair value | On cost | PIK pieces |
|---|---|---|---|---|---|
| Dec 31, 2022 | 3 | $67.7M | $67.4M | 100c | 0 |
| Sep 30, 2022 | 1 | $56.8M | $56.8M | 100c | 0 |
| Dec 31, 2021 | 1 | $56.8M | $56.8M | 100c | 0 |
What changed
- Facility left every BDC scheduleDec 31, 2023
- Facility left every BDC scheduleDec 31, 2023
- Facility left every BDC scheduleDec 31, 2023
- Spread increasedSep 30, 2023
- Spread increasedSep 30, 2023
Full timeline · 7 eventsShow fewer
- Maturity extended (observed)Dec 31, 2022
- Maturity extended (observed)Dec 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
- BADGER SPORTSWEARderivedthe codename stem after legal suffixes and deal words
- Spellings
- 2 across 3 BDCsderived
- Industry
- Textiles, Apparel & Luxury Goodsreportedas one filer wrote it