DFX Intelligence
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Borrower
B••••••••• C•••••• M• C•• 2••••••• L••
Structured finance (CLO)group grade Aoff every schedule since Sep 30, 2024sponsor unattributed
Nothing material in the last 200 days. Last change: 30 Sep 2024, Consensus mark 93¢ on cost, down from 100¢ a year ago, 94¢ last quarter.
Mark path, consensus per quarter end
100¢ · 100¢ · 93¢ · 94¢ · 93¢Q3 2023 to Q3 2024
Principal held
at least $8.5M
sum of BDC pieces, a lower bound
Fair value
$7.6M
97c on cost, debt pieces
Unfunded
Not disclosed
commitments not yet drawn
BDC lenders
1
1 on the latest quarter
Facilities
2
0 equity pieces beside them
Next maturity
unstated
no dated debt inside 24 months
On the tape since
Sep 30, 2023
latest Sep 30, 2024
Events
4
dated, non-routine
Lender marks
each lender's own fair value over cost at Sep 30, 2024, folded to one row per lender
| Lender | Exposure | Current mark | QoQ change |
|---|---|---|---|
| O•• C•••••• C••• | $8.54M | 93¢ | -1 pts |
Every BDC piece · 3 positions across 1 lenderlargest principal first, with instrument and rate
| BDC | Instrument | Principal | Fair value | Rate |
|---|---|---|---|---|
| O•• C•••••• C••• | notes unsecured or subordinated S••••••••• N•••• | $5.5M | $4.5M 90c | 13.26% |
| O•• C•••••• C••• | subordinated debt unsecured or subordinated M•••••••• D••• - C•••• E | $2.1M | $2.2M 112c | S+1036 bp |
| O•• C•••••• C••• | subordinated debt unsecured or subordinated M•••••••• D••• - C•••• D | $915,000 | $936,000 105c | S+646 bp |
Capital structure as the BDCs see it
latest quarter end Sep 30, 2024
| Facility | Held | On cost | Pricing | Maturity | BDCs |
|---|---|---|---|---|---|
| unsecured or subordinated notes unsecured or subordinated exited Sep 30, 2024 | at least $5.5M | 90c | 13.26% | unstated | 1 |
| unsecured or subordinated subordinated debt unsecured or subordinated exited Sep 30, 2024 | at least $3.0M | 110c | S+1036 bp | 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 |
|---|---|---|---|---|---|
| Sep 30, 2024 | 1 | $8.5M | $7.6M | 97c | 0 |
| Jun 30, 2024 | 1 | $8.5M | $7.7M | 98c | 0 |
| Mar 31, 2024 | 1 | $8.5M | $7.8M | 98c | 0 |
| Dec 31, 2023 | 1 | $8.5M | $7.8M | 100c | 0 |
All 5 quartersShow fewer
| Quarter end | BDCs | Principal held | Fair value | On cost | PIK pieces |
|---|---|---|---|---|---|
| Sep 30, 2023 | 1 | $8.5M | $7.6M | 100c | 0 |
What changed
- Facility left every BDC scheduleSep 30, 2024
- Facility left every BDC scheduleSep 30, 2024
- Marked down across lendersMar 31, 2024
- Marked down (one lender)Mar 31, 2024
- New borrower on a BDC scheduleSep 30, 2023
Sponsor
No sponsor attribution: no portfolio page, deal announcement or Form D signer consensus names an owner for this borrower group.
Identity
- Group key
- BRIGHTWOOD CAPITAL MM CLO 2023 1Aderivedthe codename stem after legal suffixes and deal words
- Spellings
- 1 across 1 BDCderived
- Industry
- Structured finance (CLO)reportedas one filer wrote it