DFX Intelligence
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Borrower
M••••• P•••• C••••• M••••••••• L••
Financialsgroup grade Aoff every schedule since Dec 31, 2022sponsor unattributed
Nothing material in the last 200 days. Last change: 31 Dec 2022, $18.5M principal held by 2 lenders; matures Aug 2028.
Mark path, consensus per quarter end
101¢ · 102¢ · 102¢Q4 2021 to Q4 2022
Where each lender marks it on the first lien term loan, 0 points apart
102¢102¢
Principal held
at least $18.5M
sum of BDC pieces, a lower bound
Fair value
$18.5M
102c on cost, debt pieces
Unfunded
$0
commitments not yet drawn
BDC lenders
2
2 on the latest quarter
Facilities
2
1 equity pieces beside them
Next maturity
Aug 11, 2028
no dated debt inside 24 months
On the tape since
Dec 31, 2021
latest Dec 31, 2022
Events
4
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 |
|---|---|---|---|
| L•••• R•••• F•••••• C•••• | $11M | 102¢ | new this quarter |
| C••• I••••••••• C••• | $7.53M | 102¢ | 0 pts |
Every BDC piece · 7 positions across 2 lenderslargest principal first, with instrument and rate
| BDC | Instrument | Principal | Fair value | Rate |
|---|---|---|---|---|
| C••• I••••••••• C••• | term loan first lien S••••• S•••••• F•••• L••• D•••, 8/11/2028 M•••••••, 1 | $6.1M | $6.1M 102c | S+600 bp |
| L•••• R•••• F•••••• C•••• | term loan first lien F•••• L•••/S••••• S•••••• D••• I••••••• R••• 10.75% R•••••••• R••• and S••••• L + 6.00% F• | $5.5M | $5.5M 102c | S+600 bp |
| L•••• R•••• F•••••• C•••• | term loan first lien F•••• L•••/S••••• S•••••• D••• I••••••• R••• 10.75% R•••••••• R••• and S••••• L + 6.00% F• | $5.5M | $5.5M 102c | S+600 bp |
| C••• I••••••••• C••• | term loan first lien S••••• S•••••• F•••• L••• D•••, 8/11/2028 M•••••••, 2 | $1.4M | $1.4M 101c | S+600 bp |
| C••• I••••••••• C••• | unstated lien unstated | Not disclosed | Not disclosed |
View all 7 positionsShow fewerlargest principal first
| BDC | Instrument | Principal | Fair value | Rate |
|---|---|---|---|---|
| L•••• R•••• F•••••• C•••• | revolver first lien F•••• L•••/S••••• S•••••• D••• R•••••••) F••••••••• R•••••••• R••• and S••••• L + 6.00% F• | Not disclosed | Not disclosed n/a | S+600 bp |
| L•••• R•••• F•••••• C•••• | revolver first lien F•••• L•••/S••••• S•••••• D••• R•••••••) F••••••••• R•••••••• R••• and S••••• L + 6.00% F• | Not disclosed | Not disclosed n/a | S+600 bp |
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 $18.5M | 102c | S+600 bp | Aug 11, 2028 | 2 |
| first lien revolver first lien exited Dec 31, 2022 | unknown | n/a | S+600 bp | Aug 11, 2028 | 1 |
Equity pieces beside the debt: other (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, 2022 | 2 | $18.5M | $18.5M | 102c | 0 |
| Sep 30, 2022 | 1 | $7.6M | $7.6M | 102c | 0 |
| Dec 31, 2021 | 1 | $7.9M | $6.6M | 101c | 0 |
What changed
- New lender joined a facilityDec 31, 2022
- Facility left every BDC scheduleDec 31, 2022
- Facility left every BDC scheduleDec 31, 2022
- Spread changed (observed)Sep 30, 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
- M••••• P•••• C•••••derivedthe codename stem after legal suffixes and deal words
- Spellings
- 1 across 2 BDCsderived
- Industry
- Financialsreportedas one filer wrote it