DFX Intelligence
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Borrower
Q•••••• L••
High Tech Industriesgroup grade Boff every schedule since Jun 30, 2024sponsor unattributed
Nothing material in the last 200 days. Last change: 30 Jun 2024, Non-accrual at 1 of 1 lender on the latest schedules.
Mark path, consensus per quarter end
84¢ · 15¢Q4 2023 to Q2 2024
Principal held
at least $9.0M
sum of BDC pieces, a lower bound
Fair value
$694,000
15c on cost, debt pieces
Unfunded
Not disclosed
commitments not yet drawn
BDC lenders
1
1 on the latest quarter
Facilities
3
1 equity pieces beside them
Next maturity
Jul 14, 2024
$4.6M inside 24 months
On the tape since
Dec 31, 2023
latest Jun 30, 2024
Events
5
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 |
|---|---|---|---|
| B•• I••••••••• C••• | $8.97M | 15¢ | -69 pts |
Every BDC piece · 5 positions across 1 lenderlargest principal first, with instrument and rate
| BDC | Instrument | Principal | Fair value | Rate |
|---|---|---|---|---|
| B•• I••••••••• C••• | term loan first lien F•••• L•••/S••••• S•••••• D••• M••••••• 7/14/2025 | $4.6M | $634,000 14c | S+550 bp |
| B•• I••••••••• C••• | term loan second lien S••••• L•••/S••••• S•••••• D••• M••••••• 1/14/2027 | $4.3M | Not disclosed n/a | |
| B•• I••••••••• C••• | term loan first lien F•••• L•••/S••••• S•••••• D••• I••••••• R••• 10.93% R•••••••• R••• and S••••• S••• + 5.50% | $60,000 | $60,000 100c | S+550 bp |
| B•• I••••••••• C••• | equity equity C••••• S•••• M••••••••• U•••• | Not disclosed | Not disclosed n/a | |
| B•• I••••••••• C••• | revolver first lien F•••• L•••/S••••• S•••••• D••• R•••••••) H••• T••• I••••••••• M••••••• 5/31/2024 | Not disclosed | Not disclosed n/a | 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 $4.6M | 15c | S+550 bp | Jul 14, 2025 | 1 |
| second lien term loan second lien exited Jun 30, 2024 | at least $4.3M | n/a | Jan 14, 2027 | 1 | |
| first lien revolver first lien exited Jun 30, 2024 | unknown | n/a | S+550 bp | May 31, 2024 | 1 |
Equity pieces beside the debt: equity (Not disclosed fair value, 1 BDC)
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 | 1 | $9.0M | $694,000 | 8c | 0 |
| Dec 31, 2023 | 1 | $17.0M | $14.2M | 84c | 4 |
What changed
- Facility left every BDC scheduleJun 30, 2024
- Spread changed (observed)Jun 30, 2024
- Facility left every BDC scheduleJun 30, 2024
- Facility left every BDC scheduleJun 30, 2024
- New borrower on a BDC scheduleDec 31, 2023
Sponsor
No sponsor attribution: no portfolio page, deal announcement or Form D signer consensus names an owner for this borrower group.
Identity
- Group key
- QUALTEKderivedthe codename stem after legal suffixes and deal words
- Spellings
- 1 across 1 BDCderived
- Industry
- High Tech Industriesreportedas one filer wrote it