DFX Intelligence
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Borrower
T•••••• R•••• B•••• S•• R••
Electrical Equipmentgroup grade Aoff every schedule since Dec 31, 2024sponsor unattributed
Nothing material in the last 200 days. Last change: 31 Dec 2024, Consensus mark 96¢ on cost, down from 100¢ a year ago, 102¢ last quarter.
Mark path, consensus per quarter end
100¢ · 100¢ · 99¢ · 102¢ · 96¢Q4 2023 to Q4 2024
Principal held
at least $56.0M
sum of BDC pieces, a lower bound
Fair value
$113M
96c 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
Apr 29, 2030
no dated debt inside 24 months
On the tape since
Jun 30, 2023
latest Dec 31, 2024
Events
6
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 |
|---|---|---|---|
| A••••• D••• S•••••••• B•• | $56M | 96¢ | -6 pts |
Every BDC piece · 5 positions across 1 lenderlargest principal first, with instrument and rate
| BDC | Instrument | Principal | Fair value | Rate |
|---|---|---|---|---|
| A••••• D••• S•••••••• B•• | term loan first lien Investment T••• F•••• L••• S•••••• D••• - T••• L••• I••••••• R••• E+550, 0.00% F•••• M•••• | $28.3M | $28.9M 95c | //gwms.apollo.com/20251231#Euro Interbank Offered Rate+550 bp |
| A••••• D••• S•••••••• B•• | term loan first lien Investment T••• F•••• L••• S•••••• D••• - T••• L••• I••••••• R••• S+550, 0.50% F•••• M•••• | $11.5M | $11.4M 102c | SOFR+550 bp |
| A••••• D••• S•••••••• B•• | delayed draw term loan first lien Investment T••• F•••• L••• S•••••• D••• - D•••••• D••• I••••••• R••• E+650, 0.00% F•••• M• | $11.2M | $11.4M 95c | //gwms.apollo.com/20251231#Euro Interbank Offered Rate+650 bp |
| A••••• D••• S•••••••• B•• | delayed draw term loan first lien Investment T••• F•••• L••• S•••••• D••• - D•••••• D••• I••••••• R••• E+500, 0.00% F•••• M• | $5.0M | $5.0M 90c | //gwms.apollo.com/20251231#Euro Interbank Offered Rate+500 bp |
| A••••• D••• S•••••••• B•• | unstated lien unstated | Not disclosed | $56.7M 96c |
Capital structure as the BDCs see it
latest quarter end Dec 31, 2024
| Facility | Held | On cost | Pricing | Maturity | BDCs |
|---|---|---|---|---|---|
| first lien term loan first lien exited Dec 31, 2024 | at least $39.8M | 97c | SOFR+550 bp | Apr 29, 2030 | 1 |
| first lien delayed draw term loan first lien exited Dec 31, 2024 | at least $16.2M | 93c | //gwms.apollo.com/20251231#Euro Interbank Offered Rate+650 bp | Apr 29, 2030 | 1 |
Equity pieces beside the debt: other ($56.7M 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 | $56.0M | $56.7M | 96c | 0 |
| Sep 30, 2024 | 1 | $49.5M | $52.8M | 102c | 0 |
| Jun 30, 2024 | 1 | $48.7M | $50.6M | 99c | 0 |
| Mar 31, 2024 | 1 | $51.0M | $46.7M | 100c | 0 |
All 7 quartersShow fewer
| Quarter end | BDCs | Principal held | Fair value | On cost | PIK pieces |
|---|---|---|---|---|---|
| Dec 31, 2023 | 1 | $51.0M | $46.1M | 100c | 0 |
| Sep 30, 2023 | 1 | $51.0M | $40.1M | 97c | 0 |
| Jun 30, 2023 | 1 | $51.0M | $40.9M | 99c | 0 |
What changed
- Facility left every BDC scheduleDec 31, 2024
- Marked down across lendersDec 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 · 8 eventsShow fewer
- Spread changed (observed)Sep 30, 2024
- Spread changed (observed)Mar 31, 2024
- New borrower on a BDC scheduleJun 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
- TRESCAL RULERderivedthe codename stem after legal suffixes and deal words
- Spellings
- 1 across 1 BDCderived
- Industry
- Electrical Equipmentreportedas one filer wrote it