DFX Intelligence
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Borrower
T•••• E•••••••• A•••••••••
group grade Aoff every schedule since Dec 31, 2024sponsor unattributed
Also written as: L.L.C. T•••• E•••••••• Holdings
Nothing material in the last 200 days. Last change: 31 Dec 2024, Consensus mark 54¢ on cost, down from 87¢ a year ago, 75¢ last quarter.
Mark path, consensus per quarter end
87¢ · 84¢ · 82¢ · 75¢ · 54¢Q4 2023 to Q4 2024
Principal held
at least $10.0M
sum of BDC pieces, a lower bound
Fair value
$5.3M
54c on cost, debt pieces
Unfunded
Not disclosed
commitments not yet drawn
BDC lenders
1
1 on the latest quarter
Facilities
2
1 equity pieces beside them
Next maturity
Dec 28, 2027
no dated debt inside 24 months
On the tape since
Dec 31, 2021
latest Dec 31, 2024
Events
7
dated, non-routine
Lender marks
each lender's own fair value over cost at Dec 31, 2024, folded to one row per lender
| Lender | Exposure | Current mark | QoQ change |
|---|---|---|---|
| S•••••• C•••••• I••••••••• C••• | $9.98M | 54¢ | -21 pts |
Every BDC piece · 3 positions across 1 lenderlargest principal first, with instrument and rate
| BDC | Instrument | Principal | Fair value | Rate |
|---|---|---|---|---|
| S•••••• C•••••• I••••••••• C••• | term loan lien unstated T••• L••• (S•••) | $9.9M | $5.3M 54c | S+9 bp |
| S•••••• C•••••• I••••••••• C••• | revolver lien unstated R••••••• | $39,000 | $20,865 54c | //stelluscapital.com/20251231#One Month Term Secured Overnight Financing Rate+9 bp |
| S•••••• C•••••• I••••••••• C••• | equity equity C•••• A U•••• | Not disclosed | Not disclosed n/a |
Capital structure as the BDCs see it
latest quarter end Dec 31, 2024
| Facility | Held | On cost | Pricing | Maturity | BDCs |
|---|---|---|---|---|---|
| term loan lien unstated exited Dec 31, 2024 | at least $9.9M | 54c | S+9 bp | Dec 28, 2027 | 1 |
| revolver lien unstated exited Dec 31, 2024 | at least $39,000 | n/a | //stelluscapital.com/20251231#One Month Term Secured Overnight Financing Rate+9 bp | Dec 28, 2027 | 1 |
Equity pieces beside the debt: equity (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 |
|---|---|---|---|---|---|
| Dec 31, 2024 | 1 | $10.0M | $5.3M | 54c | 0 |
| Sep 30, 2024 | 1 | $10.0M | $7.4M | 75c | 0 |
| Jun 30, 2024 | 1 | $9.9M | $8.0M | 82c | 1 |
| Mar 31, 2024 | 1 | $9.8M | $8.1M | 84c | 1 |
All 10 quartersShow fewer
| Quarter end | BDCs | Principal held | Fair value | On cost | PIK pieces |
|---|---|---|---|---|---|
| Dec 31, 2023 | 1 | $9.7M | $8.4M | 87c | 0 |
| Jun 30, 2023 | 1 | $9.8M | $9.1M | 95c | 0 |
| Mar 31, 2023 | 1 | $10.6M | $9.9M | 95c | 0 |
| Dec 31, 2022 | 1 | $10.6M | $10.0M | 96c | 0 |
| Sep 30, 2022 | 1 | $10.5M | $0 | n/a | 0 |
| Dec 31, 2021 | 1 | $10.6M | $10.4M | 100c | 0 |
What changed
- Marked down across lendersDec 31, 2024
- Facility left every BDC scheduleDec 31, 2024
- Facility left every BDC scheduleDec 31, 2024
- Marked down (one lender)Dec 31, 2024
- Marked down (one lender)Dec 31, 2024
Full timeline · 12 eventsShow fewer
- Marked down across lendersSep 30, 2024
- Marked down (one lender)Sep 30, 2024
- PIK interest appearsMar 31, 2024
- Spread changed (observed)Mar 31, 2024
- PIK interest appearsMar 31, 2024
- Spread increasedMar 31, 2024
- Spread changed (observed)Dec 31, 2023
Sponsor
No sponsor attribution: no portfolio page, deal announcement or Form D signer consensus names an owner for this borrower group.
Identity
- Group key
- TRADE EDUCATIONderivedthe codename stem after legal suffixes and deal words
- Spellings
- 1 across 1 BDCderived