DFX Intelligence
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Borrower
W• C••••• B••••• L••
Health Care Providers & Servicesgroup grade Aoff every schedule since Dec 31, 2022sponsor unattributed
Also written as: LLC 1 Emerald JV LP
Nothing material in the last 200 days. Last change: 31 Dec 2022, Consensus mark 100¢ on cost, up from 100¢ in Q4 2021, 96¢ last quarter.
Mark path, consensus per quarter end
100¢ · 96¢ · 100¢Q4 2021 to Q4 2022
Principal held
at least $33.4M
sum of BDC pieces, a lower bound
Fair value
$33.3M
100c on cost, debt pieces
Unfunded
Not disclosed
commitments not yet drawn
BDC lenders
5
4 on the latest quarter
Facilities
2
0 equity pieces beside them
Next maturity
Dec 1, 2028
no dated debt inside 24 months
On the tape since
Dec 31, 2021
latest Dec 31, 2022
Events
3
dated, non-routine
Lender marks
each lender's own fair value over cost at Dec 31, 2022, folded to one row per lender
| Lender | Exposure | Current mark | QoQ change |
|---|---|---|---|
| B••• O•• C••••• I••••• C•••• | $19.3M | 100¢ | new this quarter |
| B••••••••• P•••••• C••••• F••• | $7.14M | 101¢ | +5 pts |
| N•••• H•••• P•••••• I••••• F••• L•• | $5.02M | 100¢ | new this quarter |
| B•••••••• P•••••• C••••• F••• | $1.94M | 101¢ | new this quarter |
Every BDC piece · 4 positions across 4 lenderslargest principal first, with instrument and rate
| BDC | Instrument | Principal | Fair value | Rate |
|---|---|---|---|---|
| B••• O•• C••••• I••••• C•••• | term loan first lien F•••• lien senior secured loan | $19.3M | $19.2M 100c | S+325 bp |
| B••••••••• P•••••• C••••• F••• | unstated lien unstated | $7.1M | $7.1M 101c | S+425 bp |
| N•••• H•••• P•••••• I••••• F••• L•• | unstated lien unstated | $5.0M | $5.0M 100c | S+325 bp |
| B•••••••• P•••••• C••••• F••• | term loan first lien I••••••••• F•••• L••• T••• L••• Ref L••••(M) F•••• 0.5% S••••• 3.25% T•••• C••••• 7.63% | $1.9M | $1.9M 101c | S+325 bp |
Capital structure as the BDCs see it
latest quarter end Dec 31, 2022
| Facility | Held | On cost | Pricing | Maturity | BDCs |
|---|---|---|---|---|---|
| first lien term loan first lien exited Dec 31, 2022 | at least $21.2M | 100c | S+325 bp | Dec 23, 2028 | 2 |
| other lien unstated exited Dec 31, 2022 | at least $12.2M | 101c | S+425 bp | Dec 22, 2028 | 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, 2022 | 4 | $33.4M | $33.3M | 100c | 0 |
| Sep 30, 2022 | 1 | $27.9M | $26.7M | 96c | 0 |
| Dec 31, 2021 | 1 | $30.0M | $30.0M | 100c | 0 |
What changed
- Facility left every BDC scheduleDec 31, 2022
- Facility left every BDC scheduleDec 31, 2022
- Spread increasedDec 31, 2022
- New borrower on a BDC scheduleDec 31, 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
- WP CITYMDderivedthe codename stem after legal suffixes and deal words
- Spellings
- 1 across 5 BDCsderived
- Industry
- Health Care Providers & Servicesreportedas one filer wrote it