DFX Intelligence
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Borrower
I•• S• H•••••••• I••
Chemicals, Plastics & Rubbergroup grade Aoff every schedule since Dec 31, 2024sponsor unattributed
Also written as: Inc.First Lien
Nothing material in the last 200 days. Last change: 31 Dec 2024, $34.6M principal held by 1 lender; matures Dec 2027.
Mark path, consensus per quarter end
100¢ · 99¢ · 99¢ · 100¢ · 100¢Q4 2023 to Q4 2024
Principal held
at least $34.6M
sum of BDC pieces, a lower bound
Fair value
$69.1M
100c on cost, debt pieces
Unfunded
Not disclosed
commitments not yet drawn
BDC lenders
1
1 on the latest quarter
Facilities
2
1 equity pieces beside them
Next maturity
Dec 31, 2027
no dated debt inside 24 months
On the tape since
Dec 31, 2022
latest Dec 31, 2024
Events
8
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 |
|---|---|---|---|
| M••••• F•••••••• I••••••••• C••• | $34.6M | 100¢ | 0 pts |
Every BDC piece · 3 positions across 1 lenderlargest principal first, with instrument and rate
| BDC | Instrument | Principal | Fair value | Rate |
|---|---|---|---|---|
| M••••• F•••••••• I••••••••• C••• | term loan first lien F•••• L••• S•••••• D••• - T••• L••• I••••••• R••• S•••+585, 1.00% F•••• M••••••• D••• 12/3 | $34.6M | $34.6M 100c | SOFR+585 bp |
| M••••• F•••••••• I••••••••• C••• | unstated lien unstated | Not disclosed | $34.5M 100c | |
| M••••• F•••••••• I••••••••• C••• | revolver first lien F•••• L••• S•••••• D••• - R••••••• I••••••• R••• S•••+585, 1.00% F•••• M••••••• D••• 12/31 | Not disclosed | -$15,000 125c | SOFR+585 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 $34.6M | 100c | SOFR+585 bp | Dec 31, 2027 | 1 |
| first lien revolver first lien exited Dec 31, 2024 | unknown | n/a | SOFR+585 bp | Dec 31, 2027 | 1 |
Equity pieces beside the debt: other ($34.5M 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 |
|---|---|---|---|---|---|
| Dec 31, 2024 | 1 | $34.6M | $34.5M | 100c | 0 |
| Sep 30, 2024 | 1 | $34.7M | $34.5M | 100c | 0 |
| Jun 30, 2024 | 1 | $31.1M | $30.7M | 99c | 0 |
| Mar 31, 2024 | 1 | $34.1M | $31.0M | 99c | 0 |
All 9 quartersShow fewer
| Quarter end | BDCs | Principal held | Fair value | On cost | PIK pieces |
|---|---|---|---|---|---|
| Dec 31, 2023 | 1 | $34.2M | $30.9M | 100c | 0 |
| Sep 30, 2023 | 1 | $33.9M | $32.6M | 100c | 0 |
| Jun 30, 2023 | 1 | $34.0M | $32.6M | 100c | 0 |
| Mar 31, 2023 | 1 | $34.1M | $31.8M | n/a | 0 |
| Dec 31, 2022 | 1 | $68.4M | $62.4M | 200c | 0 |
What changed
- Facility left every BDC scheduleDec 31, 2024
- Facility left every BDC scheduleDec 31, 2024
- Spread increasedSep 30, 2024
- Spread changed (observed)Sep 30, 2024
- Spread changed (observed)Mar 31, 2024
Full timeline · 12 eventsShow fewer
- Maturity extended (observed)Dec 31, 2023
- Marked down across lendersDec 31, 2023
- Maturity extended (observed)Dec 31, 2023
- Marked down (one lender)Dec 31, 2023
- Maturity extended (observed)Dec 31, 2023
- Maturity extended (observed)Dec 31, 2023
- New borrower on a BDC scheduleDec 31, 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
- IPS SIderivedthe codename stem after legal suffixes and deal words
- Spellings
- 1 across 1 BDCderived
- Industry
- Chemicals, Plastics & Rubberreportedas one filer wrote it