DFX Intelligence
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Borrower
M••• H•••••••• L••
High Tech Industriesgroup grade Aoff every schedule since Sep 30, 2022sponsor unattributed
Nothing material in the last 200 days. Last change: 30 Sep 2022, Consensus mark 101¢ on cost, up from 99¢ in Q4 2021.
Mark path, consensus per quarter end
99¢ · 101¢Q4 2021 to Q3 2022
Where each lender marks it on the first lien term loan, 0 points apart
101¢101¢
Principal held
at least $28.3M
sum of BDC pieces, a lower bound
Fair value
$28.3M
101c on cost, debt pieces
Unfunded
$808,000
commitments not yet drawn
BDC lenders
2
2 on the latest quarter
Facilities
3
1 equity pieces beside them
Next maturity
Sep 1, 2027
no dated debt inside 24 months
On the tape since
Dec 31, 2021
latest Sep 30, 2022
Events
4
dated, non-routine
Lender marks
each lender's own fair value over cost at Sep 30, 2022, folded to one row per lender
| Lender | Exposure | Current mark | QoQ change |
|---|---|---|---|
| A••• C•••••• C••• | $17.2M | 101¢ | +2 pts |
| C•••••• S•••••• L••••••• I••• | $11.1M | 101¢ | +1 pts |
Every BDC piece · 5 positions across 2 lenderslargest principal first, with instrument and rate
| BDC | Instrument | Principal | Fair value | Rate |
|---|---|---|---|---|
| A••• C•••••• C••• | term loan first lien F•••• lien senior secured loan 1 | $13.6M | $13.7M 101c | S+625 bp |
| C•••••• S•••••• L••••••• I••• | term loan first lien F•••• L••• D••• | $11.1M | $11.0M 101c | S+625 bp |
| A••• C•••••• C••• | term loan first lien F•••• lien senior secured loan 2 | $2.8M | $2.8M 100c | S+625 bp |
| A••• C•••••• C••• | revolver first lien F•••• lien senior secured revolving loan | $800,000 | $800,000 100c | S+625 bp |
| C•••••• S•••••• L••••••• I••• | revolver second lien F•••• and S••••• L••• D••• R••••••• | Not disclosed | Not disclosed |
Capital structure as the BDCs see it
latest quarter end Sep 30, 2022
| Facility | Held | On cost | Pricing | Maturity | BDCs |
|---|---|---|---|---|---|
| first lien term loan first lien exited Sep 30, 2022 | at least $27.5M | 101c | S+625 bp | Sep 15, 2027 | 2 |
| first lien revolver first lien exited Sep 30, 2022 | at least $800,000 | 100c | S+625 bp | Sep 1, 2027 | 1 |
| second lien revolver second lien exited Sep 30, 2022 | unknown | n/a | unstated | 1 |
Equity pieces beside the debt: other (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 |
|---|---|---|---|---|---|
| Sep 30, 2022 | 2 | $28.3M | $28.3M | 101c | 0 |
| Dec 31, 2021 | 2 | $43.6M | $43.1M | 99c | 0 |
What changed
- Facility left every BDC scheduleSep 30, 2022
- Facility left every BDC scheduleSep 30, 2022
- Facility left every BDC scheduleSep 30, 2022
- New borrower on a BDC scheduleDec 31, 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
- M••• HOLDINGderivedthe codename stem after legal suffixes and deal words
- Spellings
- 1 across 2 BDCsderived
- Industry
- High Tech Industriesreportedas one filer wrote it