DFX Intelligence
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Borrower
F••••• P••••••••• L••
Packaged Foods & Meatsgroup grade Aoff every schedule since Mar 31, 2024sponsor unattributed
Also written as: Packaged Foods & Meats
Nothing material in the last 200 days. No dated change on record yet.
Mark path, consensus per quarter end
96¢ · 95¢ · 93¢ · 95¢ · 96¢Q1 2023 to Q1 2024
Principal held
at least $6.4M
sum of BDC pieces, a lower bound
Fair value
$6.2M
96c on cost, debt pieces
Unfunded
Not disclosed
commitments not yet drawn
BDC lenders
3
3 on the latest quarter
Facilities
2
0 equity pieces beside them
Next maturity
Sep 1, 2025
$5.5M inside 24 months
On the tape since
Sep 30, 2021
latest Mar 31, 2024
Events
8
dated, non-routine
Lender marks
each lender's own fair value over cost at Mar 31, 2024, folded to one row per lender
| Lender | Exposure | Current mark | QoQ change |
|---|---|---|---|
| G•••• C•••••• B••• I••• | $5.07M | 97¢ | +1 pts |
| B•••••• P•••••• C••••• C••• | $902K | 91¢ | -1 pts |
| G•••• C•••••• B•• 3• I••• | $451K | 97¢ | +1 pts |
Every BDC piece · 5 positions across 3 lenderslargest principal first, with instrument and rate
| BDC | Instrument | Principal | Fair value | Rate |
|---|---|---|---|---|
| G•••• C•••••• B••• I••• | term loan first lien S••••• secured 1 | $5.1M | $4.9M 97c | S+650 bp PIK 1.75% |
| B•••••• P•••••• C••••• C••• | term loan first lien F•••• L••• S••••• S•••••• T••• L••• | $902,000 | $824,000 91c | S+475 bp PIK 1.80% |
| G•••• C•••••• B•• 3• I••• | term loan first lien S••••• secured 1 | $443,000 | $429,000 97c | S+650 bp PIK 1.75% |
| G•••• C•••••• B••• I••• | term loan first lien S••••• secured 2 | $16,000 | $14,000 88c | S+475 bp |
| G•••• C•••••• B•• 3• I••• | term loan first lien S••••• secured 2 | $8,000 | $7,000 88c | S+475 bp |
Capital structure as the BDCs see it
latest quarter end Mar 31, 2024
| Facility | Held | On cost | Pricing | Maturity | BDCs |
|---|---|---|---|---|---|
| first lien term loan first lien exited Mar 31, 2024 | at least $6.4M | 96c | S+650 bp PIK 1.80% | Dec 1, 2025 | 3 |
| term loan lien unstated exited Sep 30, 2022 | at least $5.0M | 98c | S+575 bp PIK 1.00% | Dec 1, 2023 | 1 |
Through time
the borrower's pieces summed across BDCs, every quarter end
| Quarter end | BDCs | Principal held | Fair value | On cost | PIK pieces |
|---|---|---|---|---|---|
| Mar 31, 2024 | 3 | $6.4M | $6.2M | 96c | 3 |
| Dec 31, 2023 | 3 | $6.4M | $6.1M | 95c | 3 |
| Sep 30, 2023 | 3 | $6.4M | $5.9M | 93c | 3 |
| Jun 30, 2023 | 3 | $6.4M | $6.0M | 95c | 5 |
All 8 quartersShow fewer
| Quarter end | BDCs | Principal held | Fair value | On cost | PIK pieces |
|---|---|---|---|---|---|
| Mar 31, 2023 | 3 | $6.4M | $6.1M | 96c | 3 |
| Dec 31, 2022 | 2 | $5.9M | $5.7M | 97c | 2 |
| Sep 30, 2022 | 2 | $10.4M | $10.1M | 98c | 6 |
| Sep 30, 2021 | 1 | $5.0M | $4.9M | 99c | 1 |
What changed
- Facility left every BDC scheduleMar 31, 2024
- Spread changed (observed)Mar 31, 2024
- Maturity extended (observed)Mar 31, 2024
- Lender left a facilityMar 31, 2024
- Lender left a facilityMar 31, 2024
Full timeline · 19 eventsShow fewer
- Maturity extended (observed)Mar 31, 2024
- Maturity extended (observed)Mar 31, 2024
- Spread increasedMar 31, 2023
- PIK interest increasedMar 31, 2023
- Maturity extended (observed)Mar 31, 2023
- Maturity extended (observed)Dec 31, 2022
- Spread changed (observed)Dec 31, 2022
- New lender joined a facilityDec 31, 2022
- PIK interest increasedDec 31, 2022
- Spread increasedDec 31, 2022
- PIK interest increasedDec 31, 2022
- Maturity extended (observed)Dec 31, 2022
- Facility left every BDC scheduleSep 30, 2022
- New borrower on a BDC scheduleSep 30, 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
- F••••• P••••••••derivedthe codename stem after legal suffixes and deal words
- Spellings
- 1 across 3 BDCsderived
- Industry
- Packaged Foods & Meatsreportedas one filer wrote it