DFX Intelligence
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Borrower
I••• P••••••• I••• L•
Automobilesgroup grade Aoff every schedule since Jun 30, 2023sponsor unattributed
Nothing material in the last 200 days. Last change: 30 Jun 2023, Consensus mark 77¢ on cost, down from 85¢ in Q3 2022, 83¢ last quarter.
Mark path, consensus per quarter end
85¢ · 83¢ · 77¢Q3 2022 to Q2 2023
Where each lender marks it on the first lien term loan, 0 points apart
76¢76¢
Principal held
at least $6.6M
sum of BDC pieces, a lower bound
Fair value
$4.4M
77c 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
May 11, 2028
no dated debt inside 24 months
On the tape since
Sep 30, 2022
latest Jun 30, 2023
Events
3
dated, non-routine
Lender marks
each lender's own fair value over cost at Jun 30, 2023, folded to one row per lender
| Lender | Exposure | Current mark | QoQ change |
|---|---|---|---|
| P••••••••• I••••••••• C••• | $4.29M | 78¢ | -6 pts |
| P••••••••• F••••••• R••• C•••••• L••• | $2.31M | 76¢ | -5 pts |
Every BDC piece · 3 positions across 2 lenderslargest principal first, with instrument and rate
| BDC | Instrument | Principal | Fair value | Rate |
|---|---|---|---|---|
| P••••••••• F••••••• R••• C•••••• L••• | term loan first lien F•••• L••• S•••••• D••• M••••••• 05/11/2028 I••••••• A••••••••• C•••••• C••••• 9.77% B•••• | $2.3M | $1.5M 76c | S+450 bp |
| P••••••••• I••••••••• C••• | term loan first lien F•••• L••• S•••••• D••• M••••••• 5/11/2028 I••••••• A••• S••••• C•••••• C••••• B•••• P•••• | $2.3M | $1.5M 76c | S+475 bp |
| P••••••••• I••••••••• C••• | term loan first lien F•••• L••• S•••••• D••• M••••••• 05/11/2028 A••• S••••• C•••••• C••••• 9.77% B•••• P•••• S | $2.0M | $1.3M 81c | S+450 bp |
Capital structure as the BDCs see it
latest quarter end Jun 30, 2023
| Facility | Held | On cost | Pricing | Maturity | BDCs |
|---|---|---|---|---|---|
| first lien term loan first lien exited Jun 30, 2023 | at least $6.6M | 77c | S+450 bp | May 11, 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 |
|---|---|---|---|---|---|
| Jun 30, 2023 | 2 | $6.6M | $4.4M | 77c | 0 |
| Mar 31, 2023 | 2 | $6.6M | $4.6M | 83c | 0 |
| Sep 30, 2022 | 2 | $8.0M | $5.8M | 85c | 0 |
What changed
- Facility left every BDC scheduleJun 30, 2023
- Marked down across lendersJun 30, 2023
- Marked down (one lender)Jun 30, 2023
- Marked down (one lender)Jun 30, 2023
- New borrower on a BDC scheduleSep 30, 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
- I••• P••••••• I••derivedthe codename stem after legal suffixes and deal words
- Spellings
- 1 across 2 BDCsderived
- Industry
- Automobilesreportedas one filer wrote it