DFX Intelligence
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Borrower
S•••••• M••• I••
group grade Aoff every schedule since Dec 31, 2022sponsor unattributed
Also written as: S••••••Max, Inc
Nothing material in the last 200 days. Last change: 31 Dec 2022, $8.39M principal held by 1 lender; matures Nov 2027.
Mark path, consensus per quarter end
102¢ · 101¢ · 102¢Q4 2021 to Q4 2022
Principal held
at least $8.4M
sum of BDC pieces, a lower bound
Fair value
$8.1M
102c on cost, debt pieces
Unfunded
Not disclosed
commitments not yet drawn
BDC lenders
1
1 on the latest quarter
Facilities
2
0 equity pieces beside them
Next maturity
Nov 1, 2027
no dated debt inside 24 months
On the tape since
Dec 31, 2021
latest Dec 31, 2022
Events
6
dated, non-routine
Lender marks
each lender's own fair value over cost at Dec 31, 2022, folded to one row per lender
| Lender | Exposure | Current mark | QoQ change |
|---|---|---|---|
| M••••• C•••••• C••• | $8.39M | 102¢ | +1 pts |
Every BDC piece · 4 positions across 1 lenderlargest principal first, with instrument and rate
| BDC | Instrument | Principal | Fair value | Rate |
|---|---|---|---|---|
| M••••• C•••••• C••• | term loan first lien S••••• S•••••• L••••, due 11/1/2027 | $3.8M | $3.9M 103c | //www.monroebdc.com/20230930#London Interbank Offered Rate+700 bp PIK 11.12% |
| M••••• C•••••• C••• | term loan first lien S••••• S•••••• L•••• | $3.8M | $3.9M 103c | S+700 bp PIK 11.12% |
| M••••• C•••••• C••• | revolver first lien S••••• S•••••• L••••, R••••••• | $350,000 | $175,000 100c | S+600 bp PIK 10.27% |
| M••••• C•••••• C••• | revolver first lien R•••••••) , S••••• S•••••• L••••, due 11/1/2027 | $350,000 | $175,000 100c | //www.monroebdc.com/20230930#London Interbank Offered Rate+600 bp PIK 10.27% |
Capital structure as the BDCs see it
latest quarter end Dec 31, 2022
| Facility | Held | On cost | Pricing | Maturity | BDCs |
|---|---|---|---|---|---|
| first lien term loan first lien exited Dec 31, 2022 | at least $7.7M | 103c | //www.monroebdc.com/20230930#London Interbank Offered Rate+700 bp PIK 11.12% | Nov 1, 2027 | 1 |
| first lien revolver first lien exited Dec 31, 2022 | at least $700,000 | 100c | //www.monroebdc.com/20230930#London Interbank Offered Rate+600 bp PIK 10.27% | Nov 1, 2027 | 1 |
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, 2022 | 1 | $8.4M | $8.1M | 102c | 4 |
| Sep 30, 2022 | 1 | $4.0M | $3.7M | 101c | 2 |
| Dec 31, 2021 | 1 | $3.9M | $3.5M | 102c | 0 |
What changed
- PIK interest increasedDec 31, 2022
- Facility left every BDC scheduleDec 31, 2022
- Spread changed (observed)Dec 31, 2022
- PIK interest increasedDec 31, 2022
- Facility left every BDC scheduleDec 31, 2022
Full timeline · 8 eventsShow fewer
- PIK interest increasedDec 31, 2022
- PIK interest increasedDec 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
- SERVICEMAXderivedthe codename stem after legal suffixes and deal words
- Spellings
- 2 across 1 BDCderived