DFX Intelligence
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Borrower
S••••• A••••• S• F• R• H••••••• I• I• L• L• C•
group grade Aoff every schedule since Sep 30, 2023sponsor unattributed
Also written as: Junior
Nothing material in the last 200 days. No dated change on record yet.
Mark path, consensus per quarter end
100¢ · 100¢ · 99¢ · 99¢ · 99¢Q3 2022 to Q3 2023
Principal held
at least $9.8M
sum of BDC pieces, a lower bound
Fair value
$9.5M
99c on cost, debt pieces
Unfunded
Not disclosed
commitments not yet drawn
BDC lenders
2
2 on the latest quarter
Facilities
2
1 equity pieces beside them
Next maturity
Aug 9, 2024
$9.8M inside 24 months
On the tape since
Sep 30, 2021
latest Sep 30, 2023
Events
3
dated, non-routine
Lender marks
each lender's own fair value over cost at Sep 30, 2023, folded to one row per lender
| Lender | Exposure | Current mark | QoQ change |
|---|---|---|---|
| M••••• C•••••• C••• | $4.88M | 99¢ | 0 pts |
| M••••• C•••••• I••••• P••• C••• | $4.88M | 99¢ | 0 pts |
Every BDC piece · 2 positions across 2 lenderslargest principal first, with instrument and rate
| BDC | Instrument | Principal | Fair value | Rate |
|---|---|---|---|---|
| M••••• C•••••• C••• | revolver first lien R•••••••), S••••• S•••••• L••••, Due 8/9/2024 | $4.9M | $4.8M 99c | SOFR+700 bp |
| M••••• C•••••• I••••• P••• C••• | revolver first lien R•••••••), S••••• S•••••• L••••, Due 8/9/2024 | $4.9M | $4.8M 99c | SOFR+700 bp |
Capital structure as the BDCs see it
latest quarter end Sep 30, 2023
| Facility | Held | On cost | Pricing | Maturity | BDCs |
|---|---|---|---|---|---|
| first lien revolver first lien exited Sep 30, 2023 | at least $9.8M | 99c | SOFR+700 bp | Aug 9, 2024 | 2 |
| term loan lien unstated exited Dec 31, 2022 | at least $5.8M | 100c | 8.00% | Jul 28, 2028 | 1 |
Equity pieces beside the debt: equity ($3.9M 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 |
|---|---|---|---|---|---|
| Sep 30, 2023 | 2 | $9.8M | $9.5M | 99c | 0 |
| Jun 30, 2023 | 2 | $9.8M | $9.5M | 99c | 0 |
| Mar 31, 2023 | 2 | $9.8M | $9.5M | 99c | 0 |
| Dec 31, 2022 | 2 | $20.5M | $20.1M | 100c | 0 |
All 9 quartersShow fewer
| Quarter end | BDCs | Principal held | Fair value | On cost | PIK pieces |
|---|---|---|---|---|---|
| Sep 30, 2022 | 1 | $4.9M | $4.8M | 100c | 0 |
| Jun 30, 2022 | 1 | $0 | $2.6M | n/a | 0 |
| Mar 31, 2022 | 1 | $0 | $2.6M | n/a | 0 |
| Dec 31, 2021 | 1 | $10.7M | $8.0M | 100c | 0 |
| Sep 30, 2021 | 1 | $0 | $642,000 | n/a | 0 |
What changed
- Facility left every BDC scheduleSep 30, 2023
- Facility left every BDC scheduleDec 31, 2022
- New lender joined a facilityDec 31, 2022
- New borrower on a BDC scheduleSep 30, 2021
Sponsor
No sponsor attribution: no portfolio page, deal announcement or Form D signer consensus names an owner for this borrower group.
Identity
- Group key
- SECOND AVENUEderivedthe codename stem after legal suffixes and deal words
- Spellings
- 1 across 2 BDCsderived