DFX Intelligence
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Borrower
P••••••••• H•••••••• I••
Nothing material in the last 200 days. Last change: 31 Dec 2021, Consensus mark 92¢ on cost, down from 97¢ in Q3 2021.
Mark path, consensus per quarter end
97¢ · 92¢Q3 2021 to Q4 2021
Where each lender marks it on the first lien term loan, 1 point apart
96¢97¢
Principal held
at least $100M
sum of BDC pieces, a lower bound
Fair value
$91.0M
92c on cost, debt pieces
Unfunded
Not disclosed
commitments not yet drawn
BDC lenders
4
3 on the latest quarter
Facilities
4
0 equity pieces beside them
Next maturity
Aug 19, 2022
$100M inside 24 months
On the tape since
Sep 30, 2021
latest Dec 31, 2021
Events
5
dated, non-routine
Lender marks
each lender's own fair value over cost at Dec 31, 2021, folded to one row per lender
| Lender | Exposure | Current mark | QoQ change |
|---|---|---|---|
| F• K•• C•••••• C••• | $65M | 89¢ | new this quarter |
| C••• I••••••••• C••• | $18.9M | 97¢ | new this quarter |
| B••• C•••••• S•••••••• F••••••• I••• | $16.2M | 96¢ | new this quarter |
Every BDC piece · 5 positions across 3 lenderslargest principal first, with instrument and rate
| BDC | Instrument | Principal | Fair value | Rate |
|---|---|---|---|---|
| F• K•• C•••••• C••• | unstated lien unstated | $65.0M | $57.6M 89c | S+875 bp |
| C••• I••••••••• C••• | term loan second lien S••••• S•••••• S••••• L••• D•••, 8/21/2023 M••••••• | $15.0M | $14.2M 98c | S+875 bp |
| B••• C•••••• S•••••••• F••••••• I••• | term loan first lien F•••• L••• S••••• S•••••• L••• | $9.7M | $9.3M 96c | LIBOR+500 bp |
| B••• C•••••• S•••••••• F••••••• I••• | term loan first lien F•••• L••• S••••• S•••••• L••• 2 | $6.4M | $6.2M 96c | LIBOR+500 bp |
| C••• I••••••••• C••• | term loan first lien S••••• S•••••• F•••• L••• D•••, 8/20/2022 M••••••• | $3.9M | $3.7M 97c | S+500 bp |
Capital structure as the BDCs see it
latest quarter end Dec 31, 2021
| Facility | Held | On cost | Pricing | Maturity | BDCs |
|---|---|---|---|---|---|
| other lien unstated exited Dec 31, 2021 | at least $65.0M | 89c | S+875 bp | Aug 21, 2023 | 1 |
| first lien term loan first lien exited Dec 31, 2021 | at least $20.1M | 96c | LIBOR+500 bp | Aug 20, 2022 | 2 |
| second lien term loan second lien exited Dec 31, 2021 | at least $15.0M | 98c | S+875 bp | Aug 21, 2023 | 1 |
| term loan lien unstated exited Sep 30, 2021 | at least $3.2M | 97c | S+500 bp | Aug 1, 2022 | 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, 2021 | 3 | $100M | $91.0M | 92c | 0 |
| Sep 30, 2021 | 1 | $3.2M | $3.1M | 97c | 0 |
What changed
- Facility left every BDC scheduleDec 31, 2021
- Facility left every BDC scheduleDec 31, 2021
- Facility left every BDC scheduleDec 31, 2021
- New borrower on a BDC scheduleSep 30, 2021
- Facility left every BDC scheduleSep 30, 2021
Sponsor
Possible relationship, not established: G••••••••• E••••• G••••, because a company of this name is on the sponsor's portfolio page (confidence 0.5). No deal announcement or filing names it as a party, so it is not shown as this borrower’s sponsor.
- G••••••••• E••••• G••••
- the sponsor's own portfolio page lists a company of this nameestimatedgreenbriar.com"••• Locked"
Identity
- Group key
- PETROCHOICEderivedthe codename stem after legal suffixes and deal words
- Spellings
- 1 across 4 BDCsderived