DFX Intelligence
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Borrower
B••••••• L•• S• S••••••
Softwaregroup grade Aoff every schedule since Dec 31, 2024sponsor unattributed
Nothing material in the last 200 days. Last change: 31 Dec 2024, Consensus mark 100¢ on cost, up from 95¢ a year ago, 100¢ last quarter.
Mark path, consensus per quarter end
95¢ · 98¢ · 99¢ · 100¢ · 100¢Q4 2023 to Q4 2024
Principal held
at least $516,148
sum of BDC pieces, a lower bound
Fair value
$508,809
100c on cost, debt pieces
Unfunded
Not disclosed
commitments not yet drawn
BDC lenders
2
2 on the latest quarter
Facilities
1
0 equity pieces beside them
Next maturity
Sep 8, 2027
no dated debt inside 24 months
On the tape since
Dec 31, 2022
latest Dec 31, 2024
Events
3
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 |
|---|---|---|---|
| B•••••••• T•• C•••••• C•••• | $356K | 100¢ | 0 pts |
| B•••••••• D••••• L•••••• C•••• | $161K | 100¢ | 0 pts |
Every BDC piece · 2 positions across 2 lenderslargest principal first, with instrument and rate
| BDC | Instrument | Principal | Fair value | Rate |
|---|---|---|---|---|
| B•••••••• T•• C•••••• C•••• | revolver lien unstated R••••••• Ref S•••(Q) F•••• 0.75% S••••• 7.00% T•••• C••••• 11.33% M••••••• 9/8/2027 | $355,556 | $350,500 100c | SOFR+700 bp |
| B•••••••• D••••• L•••••• C•••• | revolver lien unstated R••••••• Ref S•••(Q) F•••• 0.75% S••••• 7.00% T•••• C••••• 11.33% M••••••• D••• 9/8/2027 | $160,592 | $158,309 100c | SOFR+700 bp |
Capital structure as the BDCs see it
latest quarter end Dec 31, 2024
| Facility | Held | On cost | Pricing | Maturity | BDCs |
|---|---|---|---|---|---|
| revolver lien unstated exited Dec 31, 2024 | at least $516,148 | 100c | SOFR+700 bp | Sep 8, 2027 | 2 |
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 | $516,148 | $508,809 | 100c | 0 |
| Sep 30, 2024 | 2 | $467,760 | $459,842 | 100c | 0 |
| Jun 30, 2024 | 1 | $344,445 | $332,000 | 99c | 0 |
| Mar 31, 2024 | 2 | $419,370 | $400,095 | 98c | 0 |
All 9 quartersShow fewer
| Quarter end | BDCs | Principal held | Fair value | On cost | PIK pieces |
|---|---|---|---|---|---|
| Dec 31, 2023 | 2 | $233,890 | $214,086 | 95c | 0 |
| Sep 30, 2023 | 2 | $0 | -$13,905 | 5075c | 0 |
| Jun 30, 2023 | 1 | $273,311 | $265,505 | 98c | 0 |
| Mar 31, 2023 | 1 | $273,311 | $265,005 | 98c | 0 |
| Dec 31, 2022 | 1 | $103,311 | $94,783 | 95c | 0 |
What changed
- Facility left every BDC scheduleDec 31, 2024
- New lender joined a facilitySep 30, 2023
- Spread increasedSep 30, 2023
- Spread changed (observed)Sep 30, 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
- BONTERRA SR SECUREDderivedthe codename stem after legal suffixes and deal words
- Spellings
- 1 across 2 BDCsderived
- Industry
- Softwarereportedas one filer wrote it