DFX Intelligence
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Borrower
R•• D••• S•• B••••• I••
group grade Aoff every schedule since Jun 30, 2024sponsor unattributed
Nothing material in the last 200 days. No dated change on record yet.
Mark path, consensus per quarter end
97¢ · 96¢ · 97¢ · 98¢ · 98¢Q2 2023 to Q2 2024
Where each lender marks it, 5 points apart
96¢101¢
Principal held
at least $85.8M
sum of BDC pieces, a lower bound
Fair value
$86.3M
98c on cost, debt pieces
Unfunded
Not disclosed
commitments not yet drawn
BDC lenders
5
3 on the latest quarter
Facilities
4
1 equity pieces beside them
Next maturity
Nov 1, 2025
$56.8M inside 24 months
On the tape since
Sep 30, 2021
latest Jun 30, 2024
Events
6
dated, non-routine
Lender marks
each lender's own fair value over cost at Jun 30, 2024, folded to one row per lender
| Lender | Exposure | Current mark | QoQ change |
|---|---|---|---|
| G•••• C•••••• B••• I••• | $56.8M | 96¢ | +2 pts |
| M••••• S•••••• D••••• L•••••• F••• | $19M | 101¢ | 0 pts |
| N••••• C•••••••• P•••••• C•••••• I••••• F••• | $10M | 100¢ | 0 pts |
Every BDC piece · 11 positions across 3 lenderslargest principal first, with instrument and rate
| BDC | Instrument | Principal | Fair value | Rate |
|---|---|---|---|---|
| G•••• C•••••• B••• I••• | term loan first lien S••••• secured 1 | $30.0M | $30.0M 94c | S+450 bp |
| M••••• S•••••• D••••• L•••••• F••• | term loan second lien S••••• L••• D••• | $19.0M | $19.0M 101c | S+850 bp |
| G•••• C•••••• B••• I••• | term loan first lien S••••• secured 3 | $13.8M | $13.8M 98c | S+425 bp |
| G•••• C•••••• B••• I••• | term loan first lien S••••• secured 2 | $7.6M | $7.6M 100c | S+450 bp |
| N••••• C•••••••• P•••••• C•••••• I••••• F••• | unstated lien unstated | $6.7M | $6.7M 100c | S+825 bp |
View all 11 positionsShow fewerlargest principal first
| BDC | Instrument | Principal | Fair value | Rate |
|---|---|---|---|---|
| N••••• C•••••••• P•••••• C•••••• I••••• F••• | unstated lien unstated | $3.4M | $3.4M 100c | S+850 bp |
| G•••• C•••••• B••• I••• | term loan first lien S••••• secured 4 | $2.9M | $2.9M 98c | S+450 bp |
| G•••• C•••••• B••• I••• | term loan first lien S••••• secured 5 | $2.5M | $2.5M 98c | S+425 bp |
| G•••• C•••••• B••• I••• | term loan first lien S••••• secured 6 | $0 | $0 | S+425 bp |
| G•••• C•••••• B••• I••• | term loan first lien S••••• secured 7 | $0 | $0 | S+450 bp |
| G•••• C•••••• B••• I••• | equity equity LP interest | Not disclosed | $467,000 101c |
Capital structure as the BDCs see it
latest quarter end Jun 30, 2024
| Facility | Held | On cost | Pricing | Maturity | BDCs |
|---|---|---|---|---|---|
| first lien term loan first lien exited Jun 30, 2024 | at least $56.8M | 96c | S+450 bp | Nov 1, 2025 | 1 |
| term loan lien unstated exited Sep 30, 2022 | at least $25.8M | 84c | S+450 bp | Nov 1, 2025 | 1 |
| second lien term loan second lien exited Jun 30, 2024 | at least $19.0M | 101c | S+850 bp | unstated | 1 |
| other lien unstated exited Jun 30, 2024 | at least $10.0M | 100c | S+850 bp | Nov 23, 2026 | 1 |
Equity pieces beside the debt: equity ($467,000 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 |
|---|---|---|---|---|---|
| Jun 30, 2024 | 3 | $85.8M | $85.8M | 98c | 0 |
| Mar 31, 2024 | 5 | $86.9M | $86.9M | 98c | 0 |
| Dec 31, 2023 | 5 | $87.3M | $86.6M | 97c | 0 |
| Sep 30, 2023 | 5 | $86.1M | $85.3M | 96c | 0 |
All 9 quartersShow fewer
| Quarter end | BDCs | Principal held | Fair value | On cost | PIK pieces |
|---|---|---|---|---|---|
| Jun 30, 2023 | 5 | $87.5M | $86.4M | 97c | 0 |
| Mar 31, 2023 | 5 | $86.7M | $84.6M | 95c | 0 |
| Dec 31, 2022 | 4 | $57.4M | $55.9M | 94c | 0 |
| Sep 30, 2022 | 2 | $78.6M | $76.9M | 87c | 0 |
| Sep 30, 2021 | 1 | $27.3M | $27.0M | 100c | 0 |
What changed
- Facility left every BDC scheduleJun 30, 2024
- Lender left a facilityJun 30, 2024
- Facility left every BDC scheduleJun 30, 2024
- Facility left every BDC scheduleJun 30, 2024
- Lender left a facilityJun 30, 2024
Full timeline · 9 eventsShow fewer
- Facility left every BDC scheduleSep 30, 2022
- Marked down across lendersSep 30, 2022
- Marked down (one lender)Sep 30, 2022
- New borrower on a BDC scheduleSep 30, 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
- RED DAWN SEIderivedthe codename stem after legal suffixes and deal words
- Spellings
- 1 across 5 BDCsderived