DFX Intelligence
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Borrower
A•••••• H•••••••• L••
Chemicals, Plastics, & Rubbergroup grade Aoff every schedule since Sep 30, 2023sponsor unattributed
Nothing material in the last 200 days. Last change: 30 Sep 2023, Consensus mark 99¢ on cost, down from 107¢ a year ago, 100¢ last quarter.
Mark path, consensus per quarter end
107¢ · 99¢ · 101¢ · 100¢ · 99¢Q3 2022 to Q3 2023
Where each lender marks it on the first lien term loan, 0 points apart
99¢99¢
Principal held
at least $21.8M
sum of BDC pieces, a lower bound
Fair value
$20.7M
99c on cost, debt pieces
Unfunded
Not disclosed
commitments not yet drawn
BDC lenders
2
2 on the latest quarter
Facilities
1
0 equity pieces beside them
Next maturity
unstated
no dated debt inside 24 months
On the tape since
Dec 31, 2021
latest Sep 30, 2023
Events
3
dated, non-routine
Lender marks
each lender's own fair value over cost at Sep 30, 2023, folded to one row per lender
| Lender | Exposure | Current mark | QoQ change |
|---|---|---|---|
| B•••••• B••• I••• | $15.6M | 99¢ | -1 pts |
| B•••••• C•••••• I••••••••• C••• | $6.23M | 99¢ | -1 pts |
Every BDC piece · 2 positions across 2 lenderslargest principal first, with instrument and rate
| BDC | Instrument | Principal | Fair value | Rate |
|---|---|---|---|---|
| B•••••• B••• I••• | term loan first lien F•••• L••• S••••• S•••••• N••• | $15.6M | $14.8M 99c | 5.00% PIK 10.00% |
| B•••••• C•••••• I••••••••• C••• | term loan first lien F•••• L••• S••••• S•••••• N••• | $6.2M | $5.9M 99c | 10.00% PIK 5.00% |
Capital structure as the BDCs see it
latest quarter end Sep 30, 2023
| Facility | Held | On cost | Pricing | Maturity | BDCs |
|---|---|---|---|---|---|
| first lien term loan first lien exited Sep 30, 2023 | at least $21.8M | 99c | 5.00% PIK 10.00% | unstated | 2 |
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, 2023 | 2 | $21.8M | $20.7M | 99c | 2 |
| Jun 30, 2023 | 2 | $21.8M | $21.0M | 100c | 2 |
| Mar 31, 2023 | 2 | $21.7M | $21.1M | 101c | 2 |
| Dec 31, 2022 | 2 | $30.1M | $28.9M | 99c | 2 |
All 6 quartersShow fewer
| Quarter end | BDCs | Principal held | Fair value | On cost | PIK pieces |
|---|---|---|---|---|---|
| Sep 30, 2022 | 1 | $15.1M | $15.3M | 107c | 1 |
| Dec 31, 2021 | 1 | $14.4M | $16.1M | 119c | 1 |
What changed
- Facility left every BDC scheduleSep 30, 2023
- PIK interest increasedSep 30, 2023
- PIK interest increasedSep 30, 2023
- New lender joined a facilityDec 31, 2022
- Marked down (one lender)Dec 31, 2022
Full timeline · 7 eventsShow fewer
- Marked down (one lender)Sep 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
- ANAGRAMderivedthe codename stem after legal suffixes and deal words
- Spellings
- 1 across 2 BDCsderived
- Industry
- Chemicals, Plastics, & Rubberreportedas one filer wrote it