DFX Intelligence
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Borrower
I••••• I•• M••••• S••• I••
group grade Aoff every schedule since Sep 30, 2024sponsor unattributed
Also written as: Inc. 1; Inc. 2
Nothing material in the last 200 days. Last change: 30 Sep 2024, $69.1M principal held by 3 lenders; matures May 2028.
Mark path, consensus per quarter end
101¢ · 101¢ · 101¢ · 101¢ · 101¢Q3 2023 to Q3 2024
Where each lender marks it on the first lien term loan, 0 points apart
101¢101¢
Principal held
at least $69.1M
sum of BDC pieces, a lower bound
Fair value
$68.9M
101c on cost, debt pieces
Unfunded
$7.4M
commitments not yet drawn
BDC lenders
3
3 on the latest quarter
Facilities
3
0 equity pieces beside them
Next maturity
May 1, 2028
no dated debt inside 24 months
On the tape since
Dec 31, 2022
latest Sep 30, 2024
Events
5
dated, non-routine
Lender marks
each lender's own fair value over cost at Sep 30, 2024, folded to one row per lender
| Lender | Exposure | Current mark | QoQ change |
|---|---|---|---|
| B••• O•• C••••• I••••• C•••• | $23M | 101¢ | 0 pts |
| B••• O•• T••••••••• F•••••• C•••• I• | $23M | 101¢ | 0 pts |
| B••• O•• T••••••••• I••••• C•••• | $23M | 101¢ | 0 pts |
Every BDC piece · 9 positions across 3 lenderslargest principal first, with instrument and rate
| BDC | Instrument | Principal | Fair value | Rate |
|---|---|---|---|---|
| B••• O•• T••••••••• F•••••• C•••• I• | term loan first lien F•••• lien senior secured loan | $23.0M | $23.0M 101c | S+550 bp |
| B••• O•• T••••••••• I••••• C•••• | term loan first lien F•••• lien senior secured loan | $23.0M | $23.0M 101c | S+550 bp |
| B••• O•• C••••• I••••• C•••• | term loan first lien F•••• lien senior secured loan 1 | $20.4M | $20.4M 101c | S+550 bp |
| B••• O•• C••••• I••••• C•••• | term loan first lien F•••• lien senior secured loan 2 | $2.6M | $2.6M 101c | S+550 bp |
| B••• O•• C••••• I••••• C•••• | revolver first lien F•••• lien senior secured revolving loan | $0 | -$6,000 20c | S+550 bp |
View all 9 positionsShow fewerlargest principal first
| BDC | Instrument | Principal | Fair value | Rate |
|---|---|---|---|---|
| B••• O•• T••••••••• F•••••• C•••• I• | revolver first lien F•••• lien senior secured revolving loan | $0 | -$6,000 20c | S+600 bp |
| B••• O•• T••••••••• I••••• C•••• | revolver first lien F•••• lien senior secured revolving loan | $0 | -$6,000 20c | S+550 bp |
| B••• O•• T••••••••• F•••••• C•••• I• | delayed draw term loan first lien F•••• lien senior secured delayed draw term loan | Not disclosed | Not disclosed | |
| B••• O•• T••••••••• I••••• C•••• | delayed draw term loan first lien F•••• lien senior secured delayed draw term loan | Not disclosed | Not disclosed | S+550 bp |
Capital structure as the BDCs see it
latest quarter end Sep 30, 2024
| Facility | Held | On cost | Pricing | Maturity | BDCs |
|---|---|---|---|---|---|
| first lien term loan first lien exited Sep 30, 2024 | at least $69.1M | 101c | S+550 bp | May 1, 2029 | 3 |
| first lien revolver first lien exited Sep 30, 2024 | at least $0 | n/a | S+550 bp | May 1, 2028 | 3 |
| first lien delayed draw term loan first lien exited Sep 30, 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 |
|---|---|---|---|---|---|
| Sep 30, 2024 | 3 | $69.1M | $68.9M | 101c | 0 |
| Jun 30, 2024 | 3 | $69.3M | $69.1M | 101c | 0 |
| Mar 31, 2024 | 2 | $46.0M | $45.7M | 101c | 0 |
| Dec 31, 2023 | 3 | $45.0M | $44.8M | 101c | 0 |
All 8 quartersShow fewer
| Quarter end | BDCs | Principal held | Fair value | On cost | PIK pieces |
|---|---|---|---|---|---|
| Sep 30, 2023 | 2 | $44.7M | $44.5M | 101c | 0 |
| Jun 30, 2023 | 2 | $44.1M | $43.7M | 101c | 0 |
| Mar 31, 2023 | 2 | $43.4M | $43.1M | 101c | 0 |
| Dec 31, 2022 | 2 | $42.5M | $41.9M | 101c | 0 |
What changed
- Facility left every BDC scheduleSep 30, 2024
- Spread increasedSep 30, 2024
- Facility left every BDC scheduleSep 30, 2024
- Facility left every BDC scheduleSep 30, 2024
- New lender joined a facilityJun 30, 2024
Full timeline · 11 eventsShow fewer
- Maturity extended (observed)Jun 30, 2024
- Marked down (one lender)Mar 31, 2024
- Marked down (one lender)Mar 31, 2024
- New lender joined a facilityDec 31, 2023
- New lender joined a facilityDec 31, 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
- ICONIC IMOderivedthe codename stem after legal suffixes and deal words
- Spellings
- 1 across 3 BDCsderived