DFX Intelligence
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Borrower
F•••• F•••••• B•• M••••• M••••• C•• 2•••••
Structured finance (CLO)group grade Aoff every schedule since Dec 31, 2023sponsor unattributed
Also written as: LLC Structured Product; LLC Structured Products
Nothing material in the last 200 days. Last change: 31 Dec 2023, Consensus mark 94¢ on cost, down from 95¢ in Q4 2022, 96¢ last quarter.
Mark path, consensus per quarter end
95¢ · 96¢ · 96¢ · 94¢Q4 2022 to Q4 2023
Principal held
at least $51.3M
sum of BDC pieces, a lower bound
Fair value
$45.2M
94c on cost, debt pieces
Unfunded
Not disclosed
commitments not yet drawn
BDC lenders
1
1 on the latest quarter
Facilities
1
0 equity pieces beside them
Next maturity
Oct 20, 2030
no dated debt inside 24 months
On the tape since
Dec 31, 2022
latest Dec 31, 2023
Events
2
dated, non-routine
Lender marks
each lender's own fair value over cost at Dec 31, 2023, folded to one row per lender
| Lender | Exposure | Current mark | QoQ change |
|---|---|---|---|
| B••• C•••••• S•••••••• F••••••• I••• | $51.3M | 94¢ | -2 pts |
Every BDC piece · 2 positions across 1 lenderlargest principal first, with instrument and rate
| BDC | Instrument | Principal | Fair value | Rate |
|---|---|---|---|---|
| B••• C•••••• S•••••••• F••••••• I••• | unstated lien unstated | $25.6M | $22.6M 94c | |
| B••• C•••••• S•••••••• F••••••• I••• | unstated lien unstated M••••••• D••• 10/20/2030 | $25.6M | $22.6M 94c |
Capital structure as the BDCs see it
latest quarter end Dec 31, 2023
| Facility | Held | On cost | Pricing | Maturity | BDCs |
|---|---|---|---|---|---|
| other lien unstated exited Dec 31, 2023 | at least $51.3M | 94c | Oct 20, 2030 | 1 |
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, 2023 | 1 | $51.3M | $45.2M | 94c | 0 |
| Sep 30, 2023 | 1 | $25.6M | $23.1M | 96c | 0 |
| Jun 30, 2023 | 1 | $25.6M | $23.2M | 96c | 0 |
| Dec 31, 2022 | 1 | $51.3M | $45.5M | 95c | 0 |
What changed
- Facility left every BDC scheduleDec 31, 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
- F••• FINANCE BCC MIDDLE MARKET CLO 2018 1derivedthe codename stem after legal suffixes and deal words
- Spellings
- 1 across 1 BDCderived
- Industry
- Structured finance (CLO)reportedas one filer wrote it