DFX Intelligence
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Borrower
K•••••••• C••••••••• A••••••••• I••
A•••••••• & Defensegroup grade Aoff every schedule since Sep 30, 2024sponsor unattributed
Nothing material in the last 200 days. No dated change on record yet.
Mark path, consensus per quarter end
98¢ · 99¢ · 99¢ · 99¢ · 100¢Q3 2023 to Q3 2024
Principal held
at least $10.7M
sum of BDC pieces, a lower bound
Fair value
$10.7M
100c on cost, debt pieces
Unfunded
Not disclosed
commitments not yet drawn
BDC lenders
1
1 on the latest quarter
Facilities
2
0 equity pieces beside them
Next maturity
Jul 1, 2025
$10.7M inside 24 months
On the tape since
Dec 31, 2021
latest Sep 30, 2024
Events
13
dated, non-routine
Lender marks
each lender's own fair value over cost at Sep 30, 2024, folded to one row per lender
| Lender | Exposure | Current mark | QoQ change |
|---|---|---|---|
| B••• C•••••• S•••••••• F••••••• I••• | $10.7M | 100¢ | +1 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••• | term loan first lien F•••• L••• S••••• S•••••• L••• S••• S••••• 6.26% I••••••• R••• 11.58% M••••••• D••• 7/1/20 | $10.6M | $10.6M 100c | S+626 bp |
| B••• C•••••• S•••••••• F••••••• I••• | revolver first lien F•••• L••• S••••• S•••••• L••• - R••••••• S••• S••••• 6.26% I••••••• R••• 10.87% M••••••• | $48,000 | $48,000 84c | S+626 bp |
Capital structure as the BDCs see it
latest quarter end Sep 30, 2024
| Facility | Held | On cost | Pricing | Maturity | BDCs |
|---|---|---|---|---|---|
| first lien term loan first lien exited Sep 30, 2024 | at least $10.6M | 100c | S+626 bp | Jul 1, 2025 | 1 |
| first lien revolver first lien exited Sep 30, 2024 | at least $48,000 | n/a | S+626 bp | Jul 1, 2025 | 1 |
Through time
the borrower's pieces summed across BDCs, every quarter end
| Quarter end | BDCs | Principal held | Fair value | On cost | PIK pieces |
|---|---|---|---|---|---|
| Sep 30, 2024 | 1 | $10.7M | $10.7M | 100c | 0 |
| Jun 30, 2024 | 1 | $22.9M | $22.5M | 99c | 1 |
| Mar 31, 2024 | 1 | $31.6M | $30.9M | 99c | 2 |
| Dec 31, 2023 | 1 | $29.7M | $28.8M | 98c | 2 |
All 10 quartersShow fewer
| Quarter end | BDCs | Principal held | Fair value | On cost | PIK pieces |
|---|---|---|---|---|---|
| Sep 30, 2023 | 1 | $29.7M | $28.7M | 98c | 0 |
| Jun 30, 2023 | 1 | $30.8M | $29.6M | 97c | 1 |
| Mar 31, 2023 | 1 | $32.7M | $31.3M | 97c | 1 |
| Dec 31, 2022 | 1 | $62.1M | $58.7M | 95c | 2 |
| Sep 30, 2022 | 1 | $32.7M | $30.7M | 95c | 1 |
| Dec 31, 2021 | 1 | $35.1M | $32.8M | 95c | 0 |
What changed
- Facility left every BDC scheduleSep 30, 2024
- Facility left every BDC scheduleSep 30, 2024
- Marked down (one lender)Sep 30, 2024
- Spread changed (observed)Jun 30, 2024
- Spread increasedJun 30, 2024
Full timeline · 23 eventsShow fewer
- PIK interest appearsDec 31, 2023
- PIK interest appearsDec 31, 2023
- Spread changed (observed)Dec 31, 2023
- Spread increasedDec 31, 2023
- PIK interest appearsDec 31, 2023
- PIK interest appearsDec 31, 2023
- Spread changed (observed)Sep 30, 2023
- Spread changed (observed)Sep 30, 2023
- Spread changed (observed)Jun 30, 2023
- Marked down across lendersJun 30, 2023
- Marked down (one lender)Jun 30, 2023
- Spread increasedJun 30, 2023
- Mark recoveredMar 31, 2023
- Marked down across lendersDec 31, 2022
- Marked down (one lender)Dec 31, 2022
- Spread changed (observed)Sep 30, 2022
- Spread increasedSep 30, 2022
- Spread increasedSep 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
- K•••••••• C••••••••• A••••••••derivedthe codename stem after legal suffixes and deal words
- Spellings
- 1 across 1 BDCderived
- Industry
- A•••••••• & Defensereportedas one filer wrote it