DFX Intelligence
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Borrower
S••••••• G•••• U••• I••
Auto Componentsgroup grade Aoff every schedule since Sep 30, 2023sponsor unattributed
Nothing material in the last 200 days. Last change: 30 Sep 2023, Consensus mark 82¢ on cost, down from 83¢ in Q4 2022, 74¢ last quarter.
Mark path, consensus per quarter end
83¢ · 75¢ · 74¢ · 82¢Q4 2022 to Q3 2023
Principal held
at least $30.1M
sum of BDC pieces, a lower bound
Fair value
$23.7M
82c 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
Sep 28, 2024
$30.1M inside 24 months
On the tape since
Dec 31, 2022
latest Sep 30, 2023
Events
9
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 |
|---|---|---|---|
| T•• D••••• L•••••• V•• L•• | $30.1M | 82¢ | +8 pts |
Every BDC piece · 3 positions across 1 lenderlargest principal first, with instrument and rate
| BDC | Instrument | Principal | Fair value | Rate |
|---|---|---|---|---|
| T•• D••••• L•••••• V•• L•• | term loan first lien A••••••••• D••• 09/28/18 L••• Out T••• L••• - 14.01% inc PIK (S••• + 8.50%, 1.00% F••••, a | $26.8M | $21.1M 82c | S+850 bp |
| T•• D••••• L•••••• V•• L•• | term loan first lien A••••••••• D••• 05/18/20 L••• Out T••• L••• - 14.01% inc PIK (S••• + 8.50%, 1.00% F••••, a | $1.8M | $1.4M 79c | S+850 bp |
| T•• D••••• L•••••• V•• L•• | delayed draw term loan first lien A••••••••• D••• 01/20/22 L••• Out D•••••• D••• T••• L••• - 14.01% inc PIK (S••• + 8.50%, 1 | $1.5M | $1.2M 80c | S+850 bp |
Capital structure as the BDCs see it
latest quarter end Sep 30, 2023
| Facility | Held | On cost | Pricing | Maturity | BDCs |
|---|---|---|---|---|---|
| first lien term loan first lien exited Sep 30, 2023 | at least $28.6M | 82c | S+850 bp | Sep 28, 2024 | 1 |
| first lien delayed draw term loan first lien exited Sep 30, 2023 | at least $1.5M | 80c | S+850 bp | Sep 28, 2024 | 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 | $30.1M | $23.7M | 82c | 0 |
| Jun 30, 2023 | 1 | $33.0M | $24.5M | 74c | 0 |
| Mar 31, 2023 | 1 | $32.1M | $24.1M | 75c | 0 |
| Dec 31, 2022 | 1 | $31.4M | $26.1M | 83c | 3 |
What changed
- Facility left every BDC scheduleSep 30, 2023
- Mark recoveredSep 30, 2023
- Mark recoveredSep 30, 2023
- Facility left every BDC scheduleSep 30, 2023
- Marked down across lendersMar 31, 2023
Full timeline · 13 eventsShow fewer
- Spread changed (observed)Mar 31, 2023
- Marked down across lendersMar 31, 2023
- Spread changed (observed)Mar 31, 2023
- Marked down (one lender)Mar 31, 2023
- Marked down (one lender)Mar 31, 2023
- Spread increasedMar 31, 2023
- Spread increasedMar 31, 2023
- New borrower on a BDC scheduleDec 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
- SHIPSTONderivedthe codename stem after legal suffixes and deal words
- Spellings
- 1 across 1 BDCderived
- Industry
- Auto Componentsreportedas one filer wrote it