DFX Intelligence
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Borrower
C•• I••••••••• H•••••••• I••
Telecommunicationsgroup grade Aoff every schedule since Mar 31, 2024sponsor unattributed
Nothing material in the last 200 days. No dated change on record yet.
Mark path, consensus per quarter end
101¢ · 100¢ · 99¢ · 100¢ · 100¢Q1 2023 to Q1 2024
Where each lender marks it on the first lien term loan, 0 points apart
101¢101¢
Principal held
at least $484M
sum of BDC pieces, a lower bound
Fair value
$475M
100c on cost, debt pieces
Unfunded
$117M
commitments not yet drawn
BDC lenders
5
5 on the latest quarter
Facilities
4
0 equity pieces beside them
Next maturity
Oct 6, 2029
no dated debt inside 24 months
On the tape since
Dec 31, 2022
latest Mar 31, 2024
Events
5
dated, non-routine
Lender marks
each lender's own fair value over cost at Mar 31, 2024, folded to one row per lender
| Lender | Exposure | Current mark | QoQ change |
|---|---|---|---|
| B••••••••• P•••••• C••••• F••• | $461M | 100¢ | 0 pts |
| C•••••• S•••••• L•••••• I•• | $11.5M | 101¢ | 0 pts |
| B••••••••• S•••••• L•••••• F••• | $3.99M | 100¢ | 0 pts |
| C•••••• C••••• S••••••••• I••• | $3.83M | 101¢ | 0 pts |
| C•••••• S•••••• L••••••• I••• | $3.83M | 101¢ | 0 pts |
Every BDC piece · 10 positions across 5 lenderslargest principal first, with instrument and rate
| BDC | Instrument | Principal | Fair value | Rate |
|---|---|---|---|---|
| B••••••••• P•••••• C••••• F••• | delayed draw term loan lien unstated | $461M | $452M 100c | S+550 bp |
| C•••••• S•••••• L•••••• I•• | term loan first lien F•••• L••• D••• | $11.5M | $11.4M 101c | S+550 bp |
| B••••••••• S•••••• L•••••• F••• | delayed draw term loan lien unstated | $4.0M | $3.9M 100c | S+550 bp |
| C•••••• C••••• S••••••••• I••• | term loan first lien F•••• L••• D••• | $3.8M | $3.8M 101c | S+550 bp |
| C•••••• S•••••• L••••••• I••• | term loan first lien F•••• L••• D••• | $3.8M | $3.8M 101c | S+550 bp |
View all 10 positionsShow fewerlargest principal first
| BDC | Instrument | Principal | Fair value | Rate |
|---|---|---|---|---|
| B••••••••• P•••••• C••••• F••• | delayed draw term loan lien unstated D•••••• D••• T••• L••• | Not disclosed | Not disclosed | S+550 bp |
| B••••••••• S•••••• L•••••• F••• | delayed draw term loan lien unstated D•••••• D••• T••• L••• | Not disclosed | Not disclosed | S+550 bp |
| C•••••• C••••• S••••••••• I••• | delayed draw term loan second lien F•••• and S••••• L••• D••• D•••••• D••• | Not disclosed | Not disclosed | |
| C•••••• S•••••• L•••••• I•• | delayed draw term loan second lien F•••• and S••••• L••• D••• D•••••• D••• | Not disclosed | Not disclosed | |
| C•••••• S•••••• L••••••• I••• | delayed draw term loan second lien F•••• and S••••• L••• D••• D•••••• D••• | Not disclosed | Not disclosed |
Capital structure as the BDCs see it
latest quarter end Mar 31, 2024
| Facility | Held | On cost | Pricing | Maturity | BDCs |
|---|---|---|---|---|---|
| other lien unstated exited Dec 31, 2022 | at least $470M | 100c | S+550 bp | Oct 8, 2029 | 2 |
| delayed draw term loan lien unstated exited Mar 31, 2024 | at least $465M | 100c | S+550 bp | Oct 8, 2029 | 2 |
| first lien term loan first lien exited Mar 31, 2024 | at least $19.2M | 101c | S+550 bp | Oct 6, 2029 | 3 |
| second lien delayed draw term loan second lien exited Mar 31, 2024 | unknown | n/a | unstated | 3 |
Through time
the borrower's pieces summed across BDCs, every quarter end
| Quarter end | BDCs | Principal held | Fair value | On cost | PIK pieces |
|---|---|---|---|---|---|
| Mar 31, 2024 | 5 | $484M | $475M | 100c | 0 |
| Dec 31, 2023 | 5 | $493M | $483M | 100c | 0 |
| Sep 30, 2023 | 5 | $487M | $474M | 99c | 0 |
| Jun 30, 2023 | 5 | $488M | $476M | 100c | 0 |
All 6 quartersShow fewer
| Quarter end | BDCs | Principal held | Fair value | On cost | PIK pieces |
|---|---|---|---|---|---|
| Mar 31, 2023 | 5 | $489M | $483M | 101c | 0 |
| Dec 31, 2022 | 5 | $493M | $482M | 100c | 0 |
What changed
- Facility left every BDC scheduleMar 31, 2024
- Facility left every BDC scheduleMar 31, 2024
- Facility left every BDC scheduleMar 31, 2024
- New borrower on a BDC scheduleDec 31, 2022
- Facility left every 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
- CPI INTERMEDIATE HOLDINGderivedthe codename stem after legal suffixes and deal words
- Spellings
- 1 across 5 BDCsderived
- Industry
- Telecommunicationsreportedas one filer wrote it