DFX Intelligence
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Borrower
A•••••••• M••••• L••
Financial Servicesgroup grade Aoff every schedule since Dec 31, 2024sponsor unattributed
Also written as: AffiniPay; AffiniPay Intermediate Holdings, LLC; LLC Fifth Amendment
Nothing material in the last 200 days. No dated change on record yet.
Mark path, consensus per quarter end
100¢ · 100¢ · 100¢ · 100¢ · 101¢Q4 2023 to Q4 2024
Principal held
unknown
sum of BDC pieces, a lower bound
Fair value
$28.6M
n/a on cost, debt pieces
Unfunded
Not disclosed
commitments not yet drawn
BDC lenders
6
1 on the latest quarter
Facilities
4
0 equity pieces beside them
Next maturity
unstated
no dated debt inside 24 months
On the tape since
Dec 31, 2021
latest Dec 31, 2024
Events
9
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 |
|---|---|---|---|
| A••••• D••• S•••••••• B•• | no principal filed | 101¢ | +1 pts |
Every BDC piece · 1 position across 1 lenderlargest principal first, with instrument and rate
| BDC | Instrument | Principal | Fair value | Rate |
|---|---|---|---|---|
| A••••• D••• S•••••••• B•• | unstated lien unstated | Not disclosed | $28.6M 101c |
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 Jun 30, 2024 | at least $223M | 101c | S+550 bp | Jun 9, 2028 | 5 |
| unsecured or subordinated term loan unsecured or subordinated exited Jun 30, 2024 | at least $61.8M | 100c | S+1000 bp PIK 15.33% | Jun 1, 2030 | 1 |
| first lien revolver first lien exited Mar 31, 2023 | at least $0 | n/a | S+575 bp | Jun 1, 2028 | 1 |
| other lien unstated exited Dec 31, 2024 | unknown | 101c | 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 |
|---|---|---|---|---|---|
| Dec 31, 2024 | 1 | $0 | $0 | n/a | 0 |
| Sep 30, 2024 | 1 | $0 | $0 | n/a | 0 |
| Jun 30, 2024 | 5 | $285M | $285M | 100c | 1 |
| Mar 31, 2024 | 5 | $284M | $283M | 100c | 1 |
All 11 quartersShow fewer
| Quarter end | BDCs | Principal held | Fair value | On cost | PIK pieces |
|---|---|---|---|---|---|
| Dec 31, 2023 | 5 | $316M | $315M | 100c | 1 |
| Sep 30, 2023 | 3 | $256M | $254M | 101c | 1 |
| Jun 30, 2023 | 3 | $254M | $247M | 99c | 1 |
| Mar 31, 2023 | 3 | $253M | $239M | 96c | 2 |
| Dec 31, 2022 | 3 | $255M | $243M | 97c | 1 |
| Sep 30, 2022 | 1 | $239M | $235M | 99c | 1 |
| Dec 31, 2021 | 1 | $91.5M | $91.5M | 100c | 1 |
What changed
- Facility left every BDC scheduleDec 31, 2024
- New lender joined a facilitySep 30, 2024
- Facility left every BDC scheduleJun 30, 2024
- Facility left every BDC scheduleJun 30, 2024
- PIK interest increasedDec 31, 2023
Full timeline · 17 eventsShow fewer
- New lender joined a facilityDec 31, 2023
- New lender joined a facilityDec 31, 2023
- PIK interest increasedDec 31, 2023
- Facility left every BDC scheduleMar 31, 2023
- PIK interest increasedDec 31, 2022
- PIK interest increasedDec 31, 2022
- Maturity extended (observed)Sep 30, 2022
- Spread changed (observed)Sep 30, 2022
- Maturity extended (observed)Sep 30, 2022
- Spread increasedSep 30, 2022
- Maturity extended (observed)Sep 30, 2022
- Maturity extended (observed)Sep 30, 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
- AFFINIPAYderivedthe codename stem after legal suffixes and deal words
- Spellings
- 2 across 6 BDCsderived
- Industry
- Financial Servicesreportedas one filer wrote it