DFX Intelligence
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Borrower
L•••• A• H•••••• L••
group grade Aoff every schedule since Feb 28, 2025sponsor unattributed
Also written as: LLC First and
Nothing material in the last 200 days. No dated change on record yet.
Mark path, consensus per quarter end
101¢ · 101¢ · 100¢ · 100¢ · 100¢Q4 2023 to Q4 2024
Principal held
unknown
sum of BDC pieces, a lower bound
Fair value
Not disclosed
n/a on cost, debt pieces
Unfunded
Not disclosed
commitments not yet drawn
BDC lenders
4
0 on the latest quarter
Facilities
2
0 equity pieces beside them
Next maturity
unstated
no dated debt inside 24 months
On the tape since
Mar 31, 2023
latest Feb 28, 2025
Events
3
dated, non-routine
Lender marks
each lender's own fair value over cost at Dec 31, 2024, folded to one row per lender
| Lender | Exposure | Current mark | QoQ change |
|---|---|---|---|
| G•••••• S•••• P•••••• C••••• C•••• | $18M | 100¢ | 0 pts |
| B•••••••• P•••••• C••••• F••• | $997K | 101¢ | new this quarter |
Every BDC piece · 2 positions across 2 lenderslargest principal first, with instrument and rate
| BDC | Instrument | Principal | Fair value | Rate |
|---|---|---|---|---|
| G•••••• S•••• P•••••• C••••• C•••• | term loan first lien 1st L•••/S••••• S•••••• D••• I••••••• C•••••••• I••••••• R••• 7.97% R•••••••• R••• and S•• | $18.0M | $18.1M 100c | SOFR+350 bp |
| B•••••••• P•••••• C••••• F••• | term loan first lien I••••••••• F•••• L••• T••• L••• Ref S•••(M) F•••• 0.50% S••••• 3.61% T•••• C••••• 7.97% M• | $997,436 | $1.0M 101c | SOFR+361 bp |
Capital structure as the BDCs see it
latest quarter end Dec 31, 2024
| Facility | Held | On cost | Pricing | Maturity | BDCs |
|---|---|---|---|---|---|
| first lien term loan first lien exited Dec 31, 2024 | at least $19.0M | 100c | SOFR+361 bp | Oct 15, 2028 | 2 |
| second lien term loan second lien exited Jun 30, 2023 | at least $4.0M | 101c | S+425 bp | Oct 15, 2028 | 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, 2024 | 2 | $19.0M | $19.1M | 100c | 0 |
| Sep 30, 2024 | 1 | $10.0M | $9.9M | 100c | 0 |
| Jun 30, 2024 | 1 | $7.5M | $7.5M | 100c | 0 |
| Mar 31, 2024 | 1 | $3.9M | $3.9M | 101c | 0 |
All 8 quartersShow fewer
| Quarter end | BDCs | Principal held | Fair value | On cost | PIK pieces |
|---|---|---|---|---|---|
| Dec 31, 2023 | 1 | $3.7M | $3.7M | 101c | 0 |
| Sep 30, 2023 | 1 | $1.3M | $1.3M | 98c | 0 |
| Jun 30, 2023 | 2 | $4.2M | $4.0M | 101c | 0 |
| Mar 31, 2023 | 1 | $2.0M | $2.0M | 100c | 0 |
What changed
- Facility left every BDC scheduleDec 31, 2024
- New lender joined a facilityDec 31, 2024
- Facility left every BDC scheduleJun 30, 2023
- Spread changed (observed)Jun 30, 2023
Sponsor
No sponsor attribution: no portfolio page, deal announcement or Form D signer consensus names an owner for this borrower group.
Identity
- Group key
- L•••• A5derivedthe codename stem after legal suffixes and deal words
- Spellings
- 1 across 4 BDCsderived