DFX Intelligence
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Borrower
W••• M••••••••• I••
Services: Businessgroup grade Aoff every schedule since Dec 31, 2023sponsor not established · possible relationship
Nothing material in the last 200 days. Last change: 31 Dec 2023, $36.8M principal held by 1 lender; matures Feb 2028.
Mark path, consensus per quarter end
100¢ · 100¢ · 101¢ · 102¢Q1 2023 to Q4 2023
Principal held
at least $36.8M
sum of BDC pieces, a lower bound
Fair value
$36.4M
102c on cost, debt pieces
Unfunded
Not disclosed
commitments not yet drawn
BDC lenders
2
1 on the latest quarter
Facilities
3
1 equity pieces beside them
Next maturity
Feb 1, 2028
no dated debt inside 24 months
On the tape since
Mar 31, 2023
latest Dec 31, 2023
Events
5
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 |
|---|---|---|---|
| M•• I••••••••• C•••• | $36.8M | 102¢ | 0 pts |
Every BDC piece · 3 positions across 1 lenderlargest principal first, with instrument and rate
| BDC | Instrument | Principal | Fair value | Rate |
|---|---|---|---|---|
| M•• I••••••••• C•••• | term loan first lien F•••• L••• D••• R•••••••• R••• and S••••• S + 6.75% I••••••• R••• F•••• 0.75% I••••••• R•• | $36.8M | $36.4M 102c | S+675 bp |
| M•• I••••••••• C•••• | revolver first lien F•••• L••• D••• C••••••••• T••• R••••••• C••••••••• E••••••••• D••• 2/1/2028 | Not disclosed | Not disclosed | S+675 bp |
| M•• I••••••••• C•••• | revolver first lien F•••• L••• D••• R•••••••• Credit F••••••• R•••••••• R••• and S••••• S + 6.75% I••••••• R•• | Not disclosed | -$29,000 40c | S+675 bp |
Capital structure as the BDCs see it
latest quarter end Dec 31, 2023
| Facility | Held | On cost | Pricing | Maturity | BDCs |
|---|---|---|---|---|---|
| first lien term loan first lien exited Dec 31, 2023 | at least $36.8M | 102c | S+675 bp | Feb 1, 2030 | 1 |
| first lien revolver first lien exited Dec 31, 2023 | unknown | n/a | S+675 bp | Feb 1, 2028 | 1 |
| second lien revolver second lien exited Sep 30, 2023 | unknown | n/a | unstated | 1 |
Equity pieces beside the debt: other ($61.1M 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, 2023 | 1 | $36.8M | $36.4M | 102c | 0 |
| Sep 30, 2023 | 2 | $36.9M | $36.5M | 102c | 0 |
| Jun 30, 2023 | 2 | $36.9M | $35.8M | 99c | 0 |
| Mar 31, 2023 | 2 | $37.0M | $35.9M | 99c | 0 |
What changed
- Facility left every BDC scheduleDec 31, 2023
- Facility left every BDC scheduleDec 31, 2023
- Facility left every BDC scheduleSep 30, 2023
- Facility left every BDC scheduleSep 30, 2023
- New borrower on a BDC scheduleMar 31, 2023
Sponsor
Possible relationship, not established: V•••••• C•••••• F••• M••••••••• L•••••, because a company of this name is on the sponsor's portfolio page (confidence 0.65). No deal announcement or filing names it as a party, so it is not shown as this borrower’s sponsor.
- V•••••• C•••••• F••• M••••••••• L•••••
- the sponsor's own portfolio page lists a company of this nameestimatedveritascapital.com"••• Locked"
Identity
- Group key
- W••• M••••••••derivedthe codename stem after legal suffixes and deal words
- Spellings
- 1 across 2 BDCsderived
- Industry
- Services: Businessreportedas one filer wrote it