DFX Intelligence
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Borrower
C•••• S••••••• G••••• L••
group grade Aoff every schedule since Dec 31, 2024sponsor unattributed
Nothing material in the last 200 days. No dated change on record yet.
Mark path, consensus per quarter end
100¢ · 101¢ · 102¢ · 101¢Q1 2023 to Q4 2024
Where each lender marks it on the first lien term loan, 0 points apart
101¢101¢
Principal held
at least $69.8M
sum of BDC pieces, a lower bound
Fair value
$69.8M
101c on cost, debt pieces
Unfunded
$0
commitments not yet drawn
BDC lenders
4
2 on the latest quarter
Facilities
5
0 equity pieces beside them
Next maturity
Oct 4, 2030
no dated debt inside 24 months
On the tape since
Mar 31, 2023
latest Dec 31, 2024
Events
10
dated, non-routine
Lender marks
each lender's own fair value over cost at Dec 31, 2024, folded to one row per lender
| Lender | Exposure | Current mark | QoQ change |
|---|---|---|---|
| N••••• C•••••••• D••••• L•••••• C•••• | $57.9M | 101¢ | no comparable mark |
| N••••• C•••••••• P•••••• C•••••• I••••• F••• | $11.9M | 101¢ | no comparable mark |
Every BDC piece · 10 positions across 2 lenderslargest principal first, with instrument and rate
| BDC | Instrument | Principal | Fair value | Rate |
|---|---|---|---|---|
| N••••• C•••••••• D••••• L•••••• C•••• | unstated lien unstated | $16.0M | $16.0M 101c | S+550 bp |
| N••••• C•••••••• D••••• L•••••• C•••• | term loan first lien F•••• L••• T••• L••• | $16.0M | $16.0M 101c | S+550 bp |
| N••••• C•••••••• D••••• L•••••• C•••• | delayed draw term loan first lien F•••• L••• T••• L••• (D•••••• D•••) | $12.9M | $12.9M 100c | S+550 bp |
| N••••• C•••••••• D••••• L•••••• C•••• | unstated lien unstated | $12.9M | $12.9M 100c | S+550 bp |
| N••••• C•••••••• P•••••• C•••••• I••••• F••• | term loan first lien F•••• L••• T••• L••• | $3.3M | $3.3M 101c | S+550 bp |
View all 10 positionsShow fewerlargest principal first
| BDC | Instrument | Principal | Fair value | Rate |
|---|---|---|---|---|
| N••••• C•••••••• P•••••• C•••••• I••••• F••• | unstated lien unstated | $3.3M | $3.3M 101c | S+550 bp |
| N••••• C•••••••• P•••••• C•••••• I••••• F••• | unstated lien unstated | $2.7M | $2.7M 100c | S+550 bp |
| N••••• C•••••••• P•••••• C•••••• I••••• F••• | delayed draw term loan first lien F•••• L••• T••• L••• (D•••••• D•••) | $2.7M | $2.7M 100c | S+550 bp |
| N••••• C•••••••• D••••• L•••••• C•••• | delayed draw term loan lien unstated D•••••• D••• L••• | Not disclosed | Not disclosed | S+550 bp |
| N••••• C•••••••• P•••••• C•••••• I••••• F••• | delayed draw term loan lien unstated D•••••• D••• L••• | Not disclosed | Not disclosed | S+550 bp |
Capital structure as the BDCs see it
latest quarter end Dec 31, 2024
| Facility | Held | On cost | Pricing | Maturity | BDCs |
|---|---|---|---|---|---|
| other lien unstated exited Dec 31, 2024 | at least $34.9M | 101c | S+550 bp | Oct 4, 2030 | 2 |
| first lien term loan first lien exited Dec 31, 2024 | at least $19.3M | 101c | S+550 bp | Oct 4, 2030 | 2 |
| first lien delayed draw term loan first lien exited Dec 31, 2024 | at least $15.6M | 100c | S+550 bp | Oct 4, 2030 | 2 |
| first lien revolver first lien exited Sep 30, 2023 | unknown | n/a | S+650 bp | Jun 1, 2027 | 1 |
| delayed draw term loan lien unstated exited Dec 31, 2024 | unknown | n/a | S+550 bp | unstated | 2 |
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, 2024 | 2 | $69.8M | $69.8M | 101c | 0 |
| Dec 31, 2023 | 2 | $0 | $0 | n/a | 0 |
| Sep 30, 2023 | 2 | $6.6M | $6.5M | 103c | 0 |
| Jun 30, 2023 | 1 | $6.0M | $5.8M | 101c | 0 |
All 5 quartersShow fewer
| Quarter end | BDCs | Principal held | Fair value | On cost | PIK pieces |
|---|---|---|---|---|---|
| Mar 31, 2023 | 1 | $6.0M | $5.7M | 99c | 0 |
What changed
- Facility left every BDC scheduleDec 31, 2024
- Spread changed (observed)Dec 31, 2024
- Facility left every BDC scheduleDec 31, 2024
- Maturity extended (observed)Dec 31, 2024
- New lender joined a facilityDec 31, 2024
Full timeline · 14 eventsShow fewer
- Maturity extended (observed)Dec 31, 2024
- Facility left every BDC scheduleDec 31, 2024
- Spread changed (observed)Dec 31, 2024
- New lender joined a facilityDec 31, 2024
- New lender joined a facilityDec 31, 2024
- New lender joined a facilityDec 31, 2024
- Facility left every BDC scheduleDec 31, 2024
- Facility left every BDC scheduleSep 30, 2023
- 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
- CEDAR SERVICESderivedthe codename stem after legal suffixes and deal words
- Spellings
- 1 across 4 BDCsderived