DFX Intelligence
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Borrower
S•• P••••••••• I••
Software & Tech Servicesgroup grade Aoff every schedule since Jun 30, 2024sponsor unattributed
Also written as: Inc1
Nothing material in the last 200 days. Last change: 30 Jun 2024, $19.5M principal held by 2 lenders; matures Oct 2026.
Mark path, consensus per quarter end
98¢ · 100¢ · 100¢ · 100¢ · 101¢Q4 2022 to Q2 2024
Where each lender marks it on the first lien term loan, 1 point apart
100¢101¢
Principal held
at least $19.5M
sum of BDC pieces, a lower bound
Fair value
$19.5M
101c on cost, debt pieces
Unfunded
Not disclosed
commitments not yet drawn
BDC lenders
2
2 on the latest quarter
Facilities
2
0 equity pieces beside them
Next maturity
Oct 15, 2026
no dated debt inside 24 months
On the tape since
Dec 31, 2022
latest Jun 30, 2024
Events
2
dated, non-routine
Lender marks
each lender's own fair value over cost at Jun 30, 2024, folded to one row per lender
| Lender | Exposure | Current mark | QoQ change |
|---|---|---|---|
| A• P•••••• C••••• I•••••••• C••• | $14M | 101¢ | +1 pts |
| A• P•••••• L•••••• F••• | $5.49M | 100¢ | new this quarter |
Every BDC piece · 5 positions across 2 lenderslargest principal first, with instrument and rate
| BDC | Instrument | Principal | Fair value | Rate |
|---|---|---|---|---|
| A• P•••••• C••••• I•••••••• C••• | term loan first lien U.S. C•••••••• D••• | 1st L•••/S••••• S•••••• D••• | T••• L••• | 10.95% (S + 5.50%; 1.00% | $11.7M | $11.7M 101c | S+550 bp |
| A• P•••••• L•••••• F••• | term loan first lien US C•••••••• D••• | 1st L•••/S••••• S•••••• D••• | T••• L••• | 10.94% (S + 5.50%; 1.00% F• | $4.8M | $4.8M 100c | S+550 bp |
| A• P•••••• C••••• I•••••••• C••• | term loan first lien U.S. C•••••••• D••• | 1st L•••/S••••• S•••••• D••• | T••• L••• | 10.95% (S + 5.50%; 1.00% | $2.2M | $2.2M 101c | S+550 bp |
| A• P•••••• L•••••• F••• | term loan first lien US C•••••••• D••• | 1st L•••/S••••• S•••••• D••• | T••• L••• | 10.94% (S + 5.50%; 1.00% F• | $672,721 | $672,721 100c | S+550 bp |
| A• P•••••• C••••• I•••••••• C••• | revolver first lien U.S. C•••••••• D••• | 1st L•••/S••••• S•••••• D••• | R••••••• | 10.95% (S + 5.50%; 1.00% F | $0 | $0 0c | S+550 bp |
Capital structure as the BDCs see it
latest quarter end Jun 30, 2024
| Facility | Held | On cost | Pricing | Maturity | BDCs |
|---|---|---|---|---|---|
| first lien term loan first lien exited Jun 30, 2024 | at least $19.5M | 101c | S+550 bp | Oct 15, 2026 | 2 |
| first lien revolver first lien exited Jun 30, 2024 | at least $0 | n/a | S+550 bp | Oct 15, 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 |
|---|---|---|---|---|---|
| Jun 30, 2024 | 2 | $19.5M | $19.5M | 101c | 0 |
| Mar 31, 2024 | 1 | $14.0M | $14.0M | 100c | 0 |
| Dec 31, 2023 | 1 | $16.3M | $16.2M | 100c | 0 |
| Sep 30, 2023 | 1 | $14.4M | $14.2M | 100c | 0 |
All 5 quartersShow fewer
| Quarter end | BDCs | Principal held | Fair value | On cost | PIK pieces |
|---|---|---|---|---|---|
| Dec 31, 2022 | 1 | $29.9M | $28.9M | 98c | 0 |
What changed
- Facility left every BDC scheduleJun 30, 2024
- Facility left every 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
- S•• P••••••••derivedthe codename stem after legal suffixes and deal words
- Spellings
- 1 across 2 BDCsderived
- Industry
- Software & Tech Servicesreportedas one filer wrote it