DFX Intelligence
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Borrower
A•••• A•• A•••• B••••• L••
IT Servicesgroup grade Aoff every schedule since Mar 31, 2025sponsor unattributed
Nothing material in the last 200 days. No dated change on record yet.
Mark path, consensus per quarter end
101¢ · 101¢ · 101¢ · 100¢ · 100¢Q1 2024 to Q1 2025
Principal held
at least $3.6M
sum of BDC pieces, a lower bound
Fair value
$7.0M
100c on cost, debt pieces
Unfunded
Not disclosed
commitments not yet drawn
BDC lenders
1
1 on the latest quarter
Facilities
3
1 equity pieces beside them
Next maturity
Oct 2, 2029
no dated debt inside 24 months
On the tape since
Dec 31, 2023
latest Mar 31, 2025
Events
6
dated, non-routine
Lender marks
each lender's own fair value over cost at Mar 31, 2025, folded to one row per lender
| Lender | Exposure | Current mark | QoQ change |
|---|---|---|---|
| M••••• F•••••••• I••••••••• C••• | $3.64M | 100¢ | 0 pts |
Every BDC piece · 4 positions across 1 lenderlargest principal first, with instrument and rate
| BDC | Instrument | Principal | Fair value | Rate |
|---|---|---|---|---|
| M••••• F•••••••• I••••••••• C••• | delayed draw term loan first lien F•••• L••• S•••••• D••• - D•••••• D••• S•••+525, 1.00% F•••• M••••••• D••• 10/02/29 | $2.2M | $2.2M 100c | SOFR+525 bp |
| M••••• F•••••••• I••••••••• C••• | term loan first lien F•••• L••• S•••••• D••• - T••• L••• S•••+525, 1.00% F•••• M••••••• D••• 10/02/29 | $1.2M | $1.2M 101c | SOFR+525 bp |
| M••••• F•••••••• I••••••••• C••• | revolver first lien F•••• L••• S•••••• D••• - R••••••• S•••+525, 1.00% F•••• M••••••• D••• 10/02/29 | $167,000 | $156,000 103c | SOFR+525 bp |
| M••••• F•••••••• I••••••••• C••• | unstated lien unstated | Not disclosed | $3.5M 100c |
Capital structure as the BDCs see it
latest quarter end Mar 31, 2025
| Facility | Held | On cost | Pricing | Maturity | BDCs |
|---|---|---|---|---|---|
| first lien delayed draw term loan first lien exited Mar 31, 2025 | at least $2.2M | 100c | SOFR+525 bp | Oct 2, 2029 | 1 |
| first lien term loan first lien exited Mar 31, 2025 | at least $1.2M | 101c | SOFR+525 bp | Oct 2, 2029 | 1 |
| first lien revolver first lien exited Mar 31, 2025 | at least $167,000 | 103c | SOFR+525 bp | Oct 2, 2029 | 1 |
Equity pieces beside the debt: other ($3.5M 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 |
|---|---|---|---|---|---|
| Mar 31, 2025 | 1 | $3.6M | $3.5M | 100c | 0 |
| Dec 31, 2024 | 1 | $3.6M | $3.5M | 100c | 0 |
| Sep 30, 2024 | 1 | $3.7M | $3.5M | 101c | 0 |
| Jun 30, 2024 | 1 | $3.6M | $3.5M | 101c | 0 |
All 6 quartersShow fewer
| Quarter end | BDCs | Principal held | Fair value | On cost | PIK pieces |
|---|---|---|---|---|---|
| Mar 31, 2024 | 1 | $7.5M | $3.4M | 101c | 0 |
| Dec 31, 2023 | 1 | $7.5M | $1.1M | 99c | 0 |
What changed
- Facility left every BDC scheduleMar 31, 2025
- Facility left every BDC scheduleMar 31, 2025
- Facility left every BDC scheduleMar 31, 2025
- Marked down (one lender)Sep 30, 2024
- Spread changed (observed)Jun 30, 2024
Full timeline · 7 eventsShow fewer
- Spread changed (observed)Jun 30, 2024
- New borrower on a BDC scheduleDec 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
- AVENU ACP AVENUderivedthe codename stem after legal suffixes and deal words
- Spellings
- 1 across 1 BDCderived
- Industry
- IT Servicesreportedas one filer wrote it