DFX Intelligence
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Borrower
R••••••• N•• G•••• I•• 5••• T••••••• P•••••• S•••• 6•• P•••• T• 7••••
Internet Media Security 1st Lien Secured Revolvergroup grade Aoff every schedule since Mar 31, 2024sponsor unattributed
Nothing material in the last 200 days. Last change: 31 Mar 2024, Consensus mark 55¢ on cost, down from 94¢ a year ago, 76¢ last quarter.
Mark path, consensus per quarter end
94¢ · 89¢ · 77¢ · 76¢ · 55¢Q1 2023 to Q1 2024
Principal held
at least $18.0M
sum of BDC pieces, a lower bound
Fair value
$9.9M
55c on cost, debt pieces
Unfunded
Not disclosed
commitments not yet drawn
BDC lenders
1
1 on the latest quarter
Facilities
2
0 equity pieces beside them
Next maturity
Jun 14, 2024
$18.0M inside 24 months
On the tape since
Mar 31, 2023
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 |
|---|---|---|---|
| G•••• E•• C•••••• C•••• | $18M | 55¢ | -21 pts |
Every BDC piece · 3 positions across 1 lenderlargest principal first, with instrument and rate
| BDC | Instrument | Principal | Fair value | Rate |
|---|---|---|---|---|
| G•••• E•• C•••••• C•••• | revolver first lien I••••••• I••••••• M•••• S••••••• 1st L••• S•••••• R••••••• I••••••• R••• 3M S••• + 4.50% 4 | $10.0M | $8.4M 84c | S+450 bp |
| G•••• E•• C•••••• C•••• | term loan second lien I••••••• I••••••• M•••• S••••••• 2nd L•••, S•••••• L••• I•••••• A••••••••• D••• 05/20/2019 | $8.0M | $1.4M 18c | |
| G•••• E•• C•••••• C•••• | revolver first lien I••••••• I••••••• M•••• S••••••• 1st L••• S•••••• R••••••• I••••••• R••• 3M S••• | Not disclosed | Not disclosed | S+450 bp |
Capital structure as the BDCs see it
latest quarter end Mar 31, 2024
| Facility | Held | On cost | Pricing | Maturity | BDCs |
|---|---|---|---|---|---|
| first lien revolver first lien exited Mar 31, 2024 | at least $10.0M | 84c | S+450 bp | Jun 14, 2024 | 1 |
| second lien term loan second lien exited Mar 31, 2024 | at least $8.0M | 18c | Dec 20, 2025 | 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, 2024 | 1 | $18.0M | $9.9M | 55c | 0 |
| Dec 31, 2023 | 1 | $18.0M | $13.7M | 76c | 0 |
| Sep 30, 2023 | 1 | $17.7M | $13.5M | 77c | 0 |
| Jun 30, 2023 | 1 | $6.1M | $5.4M | 89c | 0 |
All 5 quartersShow fewer
| Quarter end | BDCs | Principal held | Fair value | On cost | PIK pieces |
|---|---|---|---|---|---|
| Mar 31, 2023 | 1 | $6.0M | $5.6M | 94c | 0 |
What changed
- Facility left every BDC scheduleMar 31, 2024
- Marked down across lendersMar 31, 2024
- Facility left every BDC scheduleMar 31, 2024
- Marked down across lendersMar 31, 2024
- Marked down (one lender)Mar 31, 2024
Full timeline · 7 eventsShow fewer
- Marked down (one lender)Mar 31, 2024
- New borrower on a BDC scheduleMar 31, 2023
Sponsor
No sponsor attribution: no portfolio page, deal announcement or Form D signer consensus names an owner for this borrower group.
Identity
- Group key
- RESEARCH NOW TENNYSON PARKWAY SUITE PLANO TXderivedthe codename stem after legal suffixes and deal words
- Spellings
- 1 across 1 BDCderived
- Industry
- Internet Media Security 1st Lien Secured Revolverreportedas one filer wrote it