DFX Intelligence
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Borrower
J•• E••• I••••••••• L••
Also written as: Structured
Nothing material in the last 200 days. No dated change on record yet.
Mark path, consensus per quarter end
103¢ · 103¢ · 102¢ · 102¢ · 102¢Q1 2023 to Q1 2024
Principal held
at least $33.6M
sum of BDC pieces, a lower bound
Fair value
$34.3M
102c on cost, debt pieces
Unfunded
$600,000
commitments not yet drawn
BDC lenders
1
1 on the latest quarter
Facilities
2
3 equity pieces beside them
Next maturity
Apr 2, 2026
no dated debt inside 24 months
On the tape since
Dec 31, 2020
latest Mar 31, 2024
Events
2
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 |
|---|---|---|---|
| F• K•• C•••••• C••• | $33.6M | 102¢ | 0 pts |
Every BDC piece · 3 positions across 1 lenderlargest principal first, with instrument and rate
| BDC | Instrument | Principal | Fair value | Rate |
|---|---|---|---|---|
| F• K•• C•••••• C••• | subordinated debt unsecured or subordinated M••••••••, T••••••••• 1 | $33.0M | $33.7M 102c | 10.00% PIK 2.00% |
| F• K•• C•••••• C••• | subordinated debt unsecured or subordinated M••••••••, T••••••••• 2 | $600,000 | $600,000 100c | 10.00% PIK 2.00% |
| F• K•• C•••••• C••• | subordinated debt unsecured or subordinated M•••••••• | Not disclosed | Not disclosed |
Capital structure as the BDCs see it
latest quarter end Mar 31, 2024
| Facility | Held | On cost | Pricing | Maturity | BDCs |
|---|---|---|---|---|---|
| term loan lien unstated exited Dec 31, 2023 | at least $46.0M | 102c | 10.00% PIK 2.00% | Apr 2, 2026 | 1 |
| unsecured or subordinated subordinated debt unsecured or subordinated exited Mar 31, 2024 | at least $33.6M | 102c | 10.00% PIK 2.00% | Apr 2, 2026 | 1 |
Equity pieces beside the debt: warrants ($0 fair value, 1 BDC), other (Not disclosed fair value, 1 BDC), preferred equity ($0 fair value, 1 BDC)
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 | 1 | $33.6M | $34.3M | 102c | 2 |
| Dec 31, 2023 | 1 | $93.4M | $95.2M | 102c | 4 |
| Sep 30, 2023 | 1 | $50.6M | $51.6M | 102c | 2 |
| Jun 30, 2023 | 1 | $70.2M | $72.3M | 103c | 2 |
All 9 quartersShow fewer
| Quarter end | BDCs | Principal held | Fair value | On cost | PIK pieces |
|---|---|---|---|---|---|
| Mar 31, 2023 | 1 | $72.7M | $74.9M | 103c | 2 |
| Dec 31, 2022 | 1 | $150M | $155M | 103c | 4 |
| Sep 30, 2022 | 1 | $94.9M | $97.7M | 103c | 2 |
| Dec 31, 2021 | 1 | $303M | $452M | 150c | 4 |
| Dec 31, 2020 | 1 | $0 | $0 | n/a | 0 |
What changed
- Facility left every BDC scheduleMar 31, 2024
- Facility left every BDC scheduleDec 31, 2023
Sponsor
Possible relationship, not established: S••••• C•••••• P•••••••• L•••, because a company of this name is on the sponsor's portfolio page (confidence 0.6). No deal announcement or filing names it as a party, so it is not shown as this borrower’s sponsor.
- S••••• C•••••• P•••••••• L•••
- the sponsor's own portfolio page lists a company of this nameestimatedsolacecap.com"••• Locked"
Identity
- Group key
- JET EDGEderivedthe codename stem after legal suffixes and deal words
- Spellings
- 1 across 1 BDCderived