DFX Intelligence
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Borrower
W••••••• I•••••••• G•••• L••
group grade Aoff every schedule since Mar 31, 2023sponsor unattributed
Nothing material in the last 200 days. Last change: 31 Mar 2023, Consensus mark 103¢ on cost, down from 107¢ in Q4 2021, 100¢ last quarter.
Mark path, consensus per quarter end
107¢ · 100¢ · 100¢ · 103¢Q4 2021 to Q1 2023
Principal held
at least $208M
sum of BDC pieces, a lower bound
Fair value
$165M
103c on cost, debt pieces
Unfunded
$246,000
commitments not yet drawn
BDC lenders
1
1 on the latest quarter
Facilities
2
0 equity pieces beside them
Next maturity
Jan 5, 2027
no dated debt inside 24 months
On the tape since
Dec 31, 2021
latest Mar 31, 2023
Events
2
dated, non-routine
Lender marks
each lender's own fair value over cost at Mar 31, 2023, folded to one row per lender
| Lender | Exposure | Current mark | QoQ change |
|---|---|---|---|
| B••••••••• S•••••• L•••••• F••• | $208M | 103¢ | +3 pts |
Every BDC piece · 3 positions across 1 lenderlargest principal first, with instrument and rate
| BDC | Instrument | Principal | Fair value | Rate |
|---|---|---|---|---|
| B••••••••• S•••••• L•••••• F••• | delayed draw term loan lien unstated | $166M | $122M 101c | S+700 bp |
| B••••••••• S•••••• L•••••• F••• | delayed draw term loan lien unstated | $42.5M | $42.5M 106c | S+700 bp |
| B••••••••• S•••••• L•••••• F••• | delayed draw term loan lien unstated D•••••• D••• T••• L••• | Not disclosed | Not disclosed | S+700 bp |
Capital structure as the BDCs see it
latest quarter end Mar 31, 2023
| Facility | Held | On cost | Pricing | Maturity | BDCs |
|---|---|---|---|---|---|
| delayed draw term loan lien unstated exited Mar 31, 2023 | at least $208M | 103c | S+700 bp | Jan 5, 2027 | 1 |
| other lien unstated exited Dec 31, 2022 | at least $208M | 100c | S+700 bp | Jan 5, 2027 | 1 |
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, 2023 | 1 | $208M | $165M | 103c | 0 |
| Dec 31, 2022 | 1 | $208M | $159M | 100c | 0 |
| Sep 30, 2022 | 1 | $191M | $147M | 100c | 0 |
| Dec 31, 2021 | 1 | $139M | $116M | 107c | 0 |
What changed
- Facility left every BDC scheduleMar 31, 2023
- Facility left every BDC scheduleDec 31, 2022
- Marked down (one lender)Sep 30, 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
- WESTLAND INSURANCEderivedthe codename stem after legal suffixes and deal words
- Spellings
- 1 across 1 BDCderived