DFX Intelligence
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Borrower
N•• G•••• S••• S••••• B•••• L••••••
Educationgroup grade Aoff every schedule since Sep 30, 2023sponsor unattributed
Nothing material in the last 200 days. Last change: 30 Sep 2023, Consensus mark 99¢ on cost, up from 99¢ in Q4 2022, 104¢ last quarter.
Mark path, consensus per quarter end
99¢ · 104¢ · 99¢Q4 2022 to Q3 2023
Principal held
at least $30.0M
sum of BDC pieces, a lower bound
Fair value
$36.3M
99c on cost, debt pieces
Unfunded
Not disclosed
commitments not yet drawn
BDC lenders
1
1 on the latest quarter
Facilities
1
0 equity pieces beside them
Next maturity
Jul 30, 2025
$30.0M inside 24 months
On the tape since
Dec 31, 2022
latest Sep 30, 2023
Events
2
dated, non-routine
Lender marks
each lender's own fair value over cost at Sep 30, 2023, folded to one row per lender
| Lender | Exposure | Current mark | QoQ change |
|---|---|---|---|
| M••••• F•••••••• I••••••••• C••• | $30M | 99¢ | -5 pts |
Every BDC piece · 1 position across 1 lenderlargest principal first, with instrument and rate
| BDC | Instrument | Principal | Fair value | Rate |
|---|---|---|---|---|
| M••••• F•••••••• I••••••••• C••• | term loan first lien F•••• L••• S•••••• D••• SON+603, 0.50% F•••• M••••••• D••• 07/30/25 | $30.0M | $36.3M 99c | S+603 bp |
Capital structure as the BDCs see it
latest quarter end Sep 30, 2023
| Facility | Held | On cost | Pricing | Maturity | BDCs |
|---|---|---|---|---|---|
| first lien term loan first lien exited Sep 30, 2023 | at least $30.0M | 99c | S+603 bp | Jul 30, 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 |
|---|---|---|---|---|---|
| Sep 30, 2023 | 1 | $30.0M | $36.3M | 99c | 0 |
| Jun 30, 2023 | 1 | $30.0M | $37.8M | 104c | 0 |
| Mar 31, 2023 | 1 | $30.0M | $36.7M | n/a | 0 |
| Dec 31, 2022 | 1 | $30.0M | $35.9M | 99c | 0 |
What changed
- Facility left every BDC scheduleSep 30, 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
- NFA S••• SPRINGderivedthe codename stem after legal suffixes and deal words
- Spellings
- 1 across 1 BDCderived
- Industry
- Educationreportedas one filer wrote it