DFX Intelligence
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Borrower
E•• N••• P•••••• I••
Utilities: Electricgroup grade Aoff every schedule since Mar 31, 2024sponsor unattributed
Also written as: Electrical Components & Equipment
Nothing material in the last 200 days. No dated change on record yet.
Mark path, consensus per quarter end
98¢ · 97¢ · 99¢ · 98¢ · 99¢Q1 2023 to Q1 2024
Where each lender marks it on the first lien term loan, 1 point apart
98¢99¢
Principal held
at least $50.2M
sum of BDC pieces, a lower bound
Fair value
$49.0M
99c on cost, debt pieces
Unfunded
$579,000
commitments not yet drawn
BDC lenders
6
6 on the latest quarter
Facilities
8
0 equity pieces beside them
Next maturity
Apr 1, 2026
no dated debt inside 24 months
On the tape since
Dec 31, 2021
latest Mar 31, 2024
Events
11
dated, non-routine
Lender marks
each lender's own fair value over cost at Mar 31, 2024, folded to one row per lender
| Lender | Exposure | Current mark | QoQ change |
|---|---|---|---|
| C•••••• S•••••• L••••••• I••• | $35.4M | 99¢ | +1 pts |
| B•••••• B••• I••• | $6M | 98¢ | +1 pts |
| B•••••• C•••••• I••••••••• C••• | $4.38M | 98¢ | +1 pts |
| B•••••• P•••••• C••••• C••• | $2.15M | 98¢ | +1 pts |
| A••• C•••••• C••• | $1.4M | 100¢ | 0 pts |
View all 6 lendersShow fewerlargest exposure first
| Lender | Exposure | Current mark | QoQ change |
|---|---|---|---|
| C•••••• C••••• S••••••••• I••• | $931K | 99¢ | +1 pts |
Every BDC piece · 12 positions across 6 lenderslargest principal first, with instrument and rate
| BDC | Instrument | Principal | Fair value | Rate |
|---|---|---|---|---|
| C•••••• S•••••• L••••••• I••• | term loan first lien F•••• L••• D••• | $34.4M | $33.7M 99c | S+575 bp |
| B•••••• B••• I••• | term loan first lien F•••• L••• S••••• S•••••• T••• L••• | $6.0M | $5.8M 98c | S+550 bp |
| B•••••• C•••••• I••••••••• C••• | term loan first lien F•••• L••• S••••• S•••••• T••• L••• | $4.4M | $4.2M 98c | S+550 bp |
| B•••••• P•••••• C••••• C••• | term loan first lien F•••• L••• S••••• S•••••• T••• L••• | $2.1M | $2.1M 98c | S+550 bp |
| A••• C•••••• C••• | revolver first lien F•••• lien senior secured revolving loan | $1.2M | $1.2M 100c | S+575 bp |
View all 12 positionsShow fewerlargest principal first
| BDC | Instrument | Principal | Fair value | Rate |
|---|---|---|---|---|
| C•••••• C••••• S••••••••• I••• | term loan first lien F•••• L••• D••• | $931,000 | $910,000 99c | S+575 bp |
| C•••••• S•••••• L••••••• I••• | term loan first lien F•••• L••• D••• | $931,000 | $910,000 99c | S+575 bp |
| A••• C•••••• C••• | term loan first lien F•••• lien senior secured loan | $200,000 | $200,000 100c | S+575 bp |
| A••• C•••••• C••• | unstated lien unstated | Not disclosed | Not disclosed | |
| C•••••• C••••• S••••••••• I••• | revolver second lien F•••• and S••••• L••• D••• R••••••• | Not disclosed | Not disclosed | |
| C•••••• S•••••• L••••••• I••• | revolver second lien F•••• and S••••• L••• D••• R••••••• | Not disclosed | Not disclosed | |
| C•••••• S•••••• L••••••• I••• | revolver first lien F•••• L••• D••• R••••••• | Not disclosed | Not disclosed | S+575 bp |
Capital structure as the BDCs see it
latest quarter end Mar 31, 2024
| Facility | Held | On cost | Pricing | Maturity | BDCs |
|---|---|---|---|---|---|
| first lien term loan first lien exited Mar 31, 2024 | at least $49.0M | 99c | S+575 bp | Apr 19, 2028 | 6 |
| first lien revolver first lien exited Mar 31, 2024 | at least $1.2M | 100c | S+575 bp | Apr 1, 2026 | 2 |
| second lien revolver second lien exited Mar 31, 2024 | unknown | n/a | unstated | 2 | |
| other lien unstated exited Mar 31, 2024 | unknown | n/a | unstated | 1 | |
| second lien delayed draw term loan second lien exited Mar 31, 2023 | unknown | n/a | unstated | 2 |
All 8 facilitiesShow fewerheld first, largest first
| Facility | Held | On cost | Pricing | Maturity | BDCs |
|---|---|---|---|---|---|
| first lien delayed draw term loan first lien exited Dec 31, 2022 | unknown | n/a | S+575 bp | unstated | 1 |
| delayed draw term loan lien unstated exited Dec 31, 2023 | unknown | n/a | unstated | 3 | |
| revolver lien unstated exited Mar 31, 2023 | unknown | n/a | S+575 bp | unstated | 1 |
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, 2024 | 6 | $50.2M | $49.0M | 99c | 0 |
| Dec 31, 2023 | 6 | $86.7M | $83.7M | 98c | 0 |
| Sep 30, 2023 | 6 | $50.5M | $49.4M | 99c | 0 |
| Jun 30, 2023 | 6 | $50.6M | $48.6M | 97c | 0 |
All 8 quartersShow fewer
| Quarter end | BDCs | Principal held | Fair value | On cost | PIK pieces |
|---|---|---|---|---|---|
| Mar 31, 2023 | 6 | $50.0M | $48.3M | 98c | 0 |
| Dec 31, 2022 | 6 | $84.7M | $81.1M | 97c | 0 |
| Sep 30, 2022 | 3 | $41.6M | $40.6M | 99c | 0 |
| Dec 31, 2021 | 3 | $104M | $103M | 101c | 0 |
What changed
- Facility left every BDC scheduleMar 31, 2024
- Facility left every BDC scheduleMar 31, 2024
- Facility left every BDC scheduleMar 31, 2024
- Facility left every BDC scheduleMar 31, 2024
- Facility left every BDC scheduleDec 31, 2023
Full timeline · 16 eventsShow fewer
- Mark recoveredJun 30, 2023
- Marked down across lendersMar 31, 2023
- Marked down (one lender)Mar 31, 2023
- Facility left every BDC scheduleMar 31, 2023
- Facility left every BDC scheduleMar 31, 2023
- New lender joined a facilityDec 31, 2022
- New lender joined a facilityDec 31, 2022
- Facility left every BDC scheduleDec 31, 2022
- New lender joined a facilityDec 31, 2022
- New lender joined a facilityDec 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
- EPS NASSderivedthe codename stem after legal suffixes and deal words
- Spellings
- 1 across 6 BDCsderived
- Industry
- Utilities: Electricreportedas one filer wrote it