DFX Intelligence
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Borrower
R••••• P••••• L••
Utilitiesgroup grade Aoff every schedule since Dec 31, 2024sponsor unattributed
Also written as: First and; LLC One First and
Nothing material in the last 200 days. Last change: 31 Dec 2024, Consensus mark 103¢ on cost, up from 102¢ in Q2 2024, 105¢ last quarter.
Mark path, consensus per quarter end
102¢ · 105¢ · 103¢Q2 2024 to Q4 2024
Principal held
at least $25.6M
sum of BDC pieces, a lower bound
Fair value
$25.3M
103c on cost, debt pieces
Unfunded
Not disclosed
commitments not yet drawn
BDC lenders
2
2 on the latest quarter
Facilities
3
0 equity pieces beside them
Next maturity
Mar 27, 2026
$25.6M inside 24 months
On the tape since
Jun 30, 2024
latest Dec 31, 2024
Events
4
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 |
|---|---|---|---|
| K•••••• L•••• C•••••• C• | $16.2M | 102¢ | -1 pts |
| F••••••• B•• C•••••• C••• | $9.45M | 104¢ | -4 pts |
Every BDC piece · 6 positions across 2 lenderslargest principal first, with instrument and rate
| BDC | Instrument | Principal | Fair value | Rate |
|---|---|---|---|---|
| F••••••• B•• C•••••• C••• | unstated lien unstated | $8.7M | $8.6M 104c | S+425 bp |
| K•••••• L•••• C•••••• C• | term loan second lien S••••• L••• D••• O••••••• P••••••• D••• 5/31/2024 S••• S••••• 4.25% I••••••• R••• 8.73% Du | $7.4M | $7.3M 102c | SOFR+425 bp |
| K•••••• L•••• C•••••• C• | term loan first lien F•••• L••• D••• O••••••• P••••••• D••• 5/31/2024 S••• S••••• 4.25% I••••••• R••• 8.73% Due | $7.4M | $7.3M 102c | SOFR+425 bp |
| F••••••• B•• C•••••• C••• | unstated lien unstated | $766,000 | $756,000 104c | S+425 bp |
| K•••••• L•••• C•••••• C• | term loan first lien F•••• L••• D••• O••••••• P••••••• D••• 5/31/2024 S••• S••••• 4.25% I••••••• R••• 8.73% Due | $655,754 | $646,737 102c | SOFR+425 bp |
View all 6 positionsShow fewerlargest principal first
| BDC | Instrument | Principal | Fair value | Rate |
|---|---|---|---|---|
| K•••••• L•••• C•••••• C• | term loan second lien S••••• L••• D••• O••••••• P••••••• D••• 5/31/2024 S••• S••••• 4.25% I••••••• R••• 8.73% Du | $655,754 | $646,737 102c | SOFR+425 bp |
Capital structure as the BDCs see it
latest quarter end Dec 31, 2024
| Facility | Held | On cost | Pricing | Maturity | BDCs |
|---|---|---|---|---|---|
| other lien unstated exited Dec 31, 2024 | at least $9.4M | 104c | S+425 bp | Mar 30, 2026 | 1 |
| second lien term loan second lien exited Dec 31, 2024 | at least $8.1M | 102c | SOFR+425 bp | Mar 27, 2026 | 1 |
| first lien term loan first lien exited Dec 31, 2024 | at least $8.1M | 102c | SOFR+425 bp | Mar 27, 2026 | 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 | $25.6M | $25.3M | 103c | 0 |
| Sep 30, 2024 | 2 | $15.6M | $15.5M | 105c | 0 |
| Jun 30, 2024 | 2 | $9.1M | $8.3M | 102c | 0 |
What changed
- Facility left every BDC scheduleDec 31, 2024
- Facility left every BDC scheduleDec 31, 2024
- Facility left every BDC scheduleDec 31, 2024
- New borrower on a BDC scheduleJun 30, 2024
Sponsor
No sponsor attribution: no portfolio page, deal announcement or Form D signer consensus names an owner for this borrower group.
Identity
- Group key
- R••••• P••••derivedthe codename stem after legal suffixes and deal words
- Spellings
- 1 across 2 BDCsderived
- Industry
- Utilitiesreportedas one filer wrote it