DFX Intelligence
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Borrower
A•••••• I••
group grade Aoff every schedule since Dec 31, 2023sponsor unattributed
Also written as: Senior convertible
Nothing material in the last 200 days. Last change: 31 Dec 2023, Consensus mark 107¢ on cost, up from 79¢ a year ago, 100¢ last quarter.
Mark path, consensus per quarter end
79¢ · 90¢ · 101¢ · 100¢ · 107¢Q4 2022 to Q4 2023
Where each lender marks it on the notes, 0 points apart
107¢107¢
Principal held
at least $50.0M
sum of BDC pieces, a lower bound
Fair value
$40.9M
107c on cost, debt pieces
Unfunded
Not disclosed
commitments not yet drawn
BDC lenders
2
2 on the latest quarter
Facilities
1
0 equity pieces beside them
Next maturity
Nov 1, 2026
no dated debt inside 24 months
On the tape since
Dec 31, 2022
latest Dec 31, 2023
Events
4
dated, non-routine
Lender marks
each lender's own fair value over cost at Dec 31, 2023, folded to one row per lender
| Lender | Exposure | Current mark | QoQ change |
|---|---|---|---|
| B••• O•• T••••••••• F•••••• C•••• | $25M | 107¢ | +7 pts |
| B••• O•• T••••••••• F•••••• C•••• I• | $25M | 107¢ | +7 pts |
Every BDC piece · 2 positions across 2 lenderslargest principal first, with instrument and rate
| BDC | Instrument | Principal | Fair value | Rate |
|---|---|---|---|---|
| B••• O•• T••••••••• F•••••• C•••• | notes lien unstated notes | $25.0M | $20.5M 107c | |
| B••• O•• T••••••••• F•••••• C•••• I• | notes lien unstated notes | $25.0M | $20.5M 107c |
Capital structure as the BDCs see it
latest quarter end Dec 31, 2023
| Facility | Held | On cost | Pricing | Maturity | BDCs |
|---|---|---|---|---|---|
| notes lien unstated exited Dec 31, 2023 | at least $50.0M | 107c | Nov 1, 2026 | 2 |
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, 2023 | 2 | $50.0M | $40.9M | 107c | 0 |
| Sep 30, 2023 | 2 | $50.0M | $37.5M | 100c | 0 |
| Jun 30, 2023 | 2 | $50.0M | $37.0M | 101c | 0 |
| Mar 31, 2023 | 2 | $50.0M | $32.1M | 90c | 0 |
All 5 quartersShow fewer
| Quarter end | BDCs | Principal held | Fair value | On cost | PIK pieces |
|---|---|---|---|---|---|
| Dec 31, 2022 | 2 | $50.0M | $27.5M | 79c | 0 |
What changed
- Facility left every BDC scheduleDec 31, 2023
- Mark recoveredJun 30, 2023
- Mark recoveredMar 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
- AFFIRMderivedthe codename stem after legal suffixes and deal words
- Spellings
- 1 across 2 BDCsderived