DFX Intelligence
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Borrower
S••• O•• H••••••• C•••
group grade Aoff every schedule since Mar 31, 2024sponsor unattributed
Nothing material in the last 200 days. Last change: 31 Mar 2024, Consensus mark 102¢ on cost, up from 92¢ a year ago, 101¢ last quarter.
Mark path, consensus per quarter end
92¢ · 98¢ · 100¢ · 101¢ · 102¢Q1 2023 to Q1 2024
Where each lender marks it on the first lien term loan, 6 points apart
100¢106¢
Principal held
at least $17.0M
sum of BDC pieces, a lower bound
Fair value
$17.0M
102c on cost, debt pieces
Unfunded
Not disclosed
commitments not yet drawn
BDC lenders
3
2 on the latest quarter
Facilities
2
0 equity pieces beside them
Next maturity
Dec 1, 2028
no dated debt inside 24 months
On the tape since
Dec 31, 2021
latest Mar 31, 2024
Events
4
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 |
|---|---|---|---|
| N•• S•• I• I••• | $11M | 100¢ | +2 pts |
| M••••• C•••••• I••••• P••• C••• | $6.01M | 106¢ | +3 pts |
Every BDC piece · 2 positions across 2 lenderslargest principal first, with instrument and rate
| BDC | Instrument | Principal | Fair value | Rate |
|---|---|---|---|---|
| N•• S•• I• I••• | term loan first lien F•••• L••• | $11.0M | $11.0M 100c | S+450 bp |
| M••••• C•••••• I••••• P••• C••• | term loan first lien S••••• S•••••• L•••• | $6.0M | $6.0M 106c | S+465 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 $17.0M | 102c | S+450 bp | Dec 8, 2028 | 2 |
| other lien unstated exited Dec 31, 2022 | at least $11.1M | 92c | S+450 bp | Dec 1, 2028 | 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 | 2 | $17.0M | $17.0M | 102c | 0 |
| Dec 31, 2023 | 2 | $23.0M | $22.5M | 101c | 0 |
| Sep 30, 2023 | 2 | $17.1M | $16.6M | 99c | 0 |
| Jun 30, 2023 | 2 | $17.1M | $16.4M | 98c | 0 |
All 6 quartersShow fewer
| Quarter end | BDCs | Principal held | Fair value | On cost | PIK pieces |
|---|---|---|---|---|---|
| Mar 31, 2023 | 1 | $11.1M | $10.2M | 92c | 0 |
| Dec 31, 2022 | 1 | $22.2M | $20.4M | 92c | 0 |
What changed
- Facility left every BDC scheduleMar 31, 2024
- Mark recoveredJun 30, 2023
- New lender joined a facilityJun 30, 2023
- Facility left every BDC scheduleDec 31, 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
- SNAP ONEderivedthe codename stem after legal suffixes and deal words
- Spellings
- 1 across 3 BDCsderived