DFX Intelligence
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Borrower
B•• T••• S•••••••• L••
group grade Aoff every schedule since Dec 31, 2023sponsor unattributed
Also written as: 2016; Member Units April 08
Nothing material in the last 200 days. No dated change on record yet.
Mark path, consensus per quarter end
60¢ · 60¢ · 63¢ · 61¢Q4 2022 to Q3 2023
Principal held
unknown
sum of BDC pieces, a lower bound
Fair value
$0
n/a on cost, debt pieces
Unfunded
Not disclosed
commitments not yet drawn
BDC lenders
2
1 on the latest quarter
Facilities
1
3 equity pieces beside them
Next maturity
unstated
no dated debt inside 24 months
On the tape since
Dec 31, 2020
latest Dec 31, 2023
Events
2
dated, non-routine
Lender marks
each lender's own fair value over cost at Dec 31, 2023, folded to one row per lender
| Lender | Exposure | Current mark | QoQ change |
|---|---|---|---|
| M••• S••••• C•••••• C••• | no principal filed | no cost filed | no comparable mark |
Every BDC piece · 4 positions across 1 lenderlargest principal first, with instrument and rate
| BDC | Instrument | Principal | Fair value | Rate |
|---|---|---|---|---|
| M••• S••••• C•••••• C••• | subordinated debt unsecured or subordinated U•••••••• D••• 2 | Not disclosed | $0 | S+1100 bp |
| M••• S••••• C•••••• C••• | subordinated debt unsecured or subordinated U•••••••• D••• 1 | Not disclosed | $0 | S+1100 bp |
| M••• S••••• C•••••• C••• | preferred equity equity P•••••••• S•••• (non-voting) | Not disclosed | $0 | PIK 15.00% |
| M••• S••••• C•••••• C••• | equity equity M••••• U•••• | Not disclosed | $0 |
Capital structure as the BDCs see it
latest quarter end Dec 31, 2023
| Facility | Held | On cost | Pricing | Maturity | BDCs |
|---|---|---|---|---|---|
| unsecured or subordinated subordinated debt unsecured or subordinated exited Dec 31, 2023 | unknown | n/a | S+1100 bp | unstated | 1 |
Equity pieces beside the debt: other ($0 fair value, 1 BDC), preferred equity ($0 fair value, 1 BDC), equity ($0 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 |
|---|---|---|---|---|---|
| Dec 31, 2023 | 1 | $0 | $0 | n/a | 0 |
| Sep 30, 2023 | 2 | $5.8M | $3.5M | 61c | 0 |
| Jun 30, 2023 | 2 | $6.0M | $3.8M | 63c | 0 |
| Mar 31, 2023 | 2 | $6.0M | $3.6M | 60c | 0 |
All 9 quartersShow fewer
| Quarter end | BDCs | Principal held | Fair value | On cost | PIK pieces |
|---|---|---|---|---|---|
| Dec 31, 2022 | 2 | $6.0M | $3.6M | 60c | 0 |
| Sep 30, 2022 | 1 | $4.8M | $4.6M | 96c | 0 |
| Jun 30, 2022 | 1 | $0 | $2.3M | n/a | 0 |
| Mar 31, 2022 | 1 | $0 | $0 | n/a | 0 |
| Dec 31, 2021 | 1 | $9.6M | $7.5M | 78c | 0 |
What changed
- Facility left every BDC scheduleDec 31, 2023
- Mark recoveredDec 31, 2022
- New lender joined a facilityDec 31, 2022
Sponsor
No sponsor attribution: no portfolio page, deal announcement or Form D signer consensus names an owner for this borrower group.
Identity
- Group key
- B•• T••• S•••••••derivedthe codename stem after legal suffixes and deal words
- Spellings
- 1 across 2 BDCsderived