DFX Intelligence
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Borrower
K• M••••• A•••••••• A••••
group grade Aoff every schedule since Sep 30, 2023sponsor unattributed
Also written as: LLC Industrial Cleaning & Coatings
Nothing material in the last 200 days. Last change: 30 Sep 2023, Non-accrual at 1 of 1 lender on the latest schedules.
Mark path, consensus per quarter end
90¢ · 90¢ · 90¢ · 64¢Q4 2022 to Q3 2023
Principal held
at least $2.4M
sum of BDC pieces, a lower bound
Fair value
$1.5M
64c on cost, debt pieces
Unfunded
Not disclosed
commitments not yet drawn
BDC lenders
1
1 on the latest quarter
Facilities
1
0 equity pieces beside them
Next maturity
Jan 28, 2025
$2.4M inside 24 months
On the tape since
Dec 31, 2022
latest Sep 30, 2023
Events
2
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 |
|---|---|---|---|
| F•••• I••••••••• C••• | $2.37M | 64¢ | -26 pts |
Every BDC piece · 1 position across 1 lenderlargest principal first, with instrument and rate
| BDC | Instrument | Principal | Fair value | Rate |
|---|---|---|---|---|
| F•••• I••••••••• C••• | term loan second lien S••••• L••• D••• R••• C••• 0.00% R••• PIK 10.00% Investment date 1/28/2019 M••••••• 1/28/2 | $2.4M | $1.5M 64c | PIK 10.00% |
Capital structure as the BDCs see it
latest quarter end Sep 30, 2023
| Facility | Held | On cost | Pricing | Maturity | BDCs |
|---|---|---|---|---|---|
| second lien term loan second lien exited Sep 30, 2023 | at least $2.4M | 64c | PIK 10.00% | Jan 28, 2025 | 1 |
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 | 1 | $2.4M | $1.5M | 64c | 1 |
| Jun 30, 2023 | 1 | $2.4M | $2.1M | 90c | 1 |
| Mar 31, 2023 | 1 | $2.4M | $2.1M | 90c | 1 |
| Dec 31, 2022 | 1 | $2.4M | $2.1M | 90c | 1 |
What changed
- Facility left every BDC scheduleSep 30, 2023
- Marked down across lendersSep 30, 2023
- Marked down (one lender)Sep 30, 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
- K2 AGREEMENT AGENTderivedthe codename stem after legal suffixes and deal words
- Spellings
- 1 across 1 BDCderived