DFX Intelligence
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Borrower
G••••••••• L••
Nothing material in the last 200 days. Last change: 31 Mar 2024, $337M principal held by 4 lenders; matures Jul 2028.
Mark path, consensus per quarter end
101¢ · 99¢ · 100¢ · 100¢ · 101¢Q1 2023 to Q1 2024
Where each lender marks it on the first lien term loan, 1 point apart
100¢101¢
Principal held
at least $337M
sum of BDC pieces, a lower bound
Fair value
$334M
101c on cost, debt pieces
Unfunded
$15.0M
commitments not yet drawn
BDC lenders
4
4 on the latest quarter
Facilities
2
0 equity pieces beside them
Next maturity
Jul 1, 2028
no dated debt inside 24 months
On the tape since
Dec 31, 2022
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 |
|---|---|---|---|
| B••• O•• C••••• I••••• C•••• | $128M | 101¢ | +1 pts |
| B••• O•• T••••••••• F•••••• C•••• I• | $113M | 101¢ | +1 pts |
| B••• O•• T••••••••• I••••• C•••• | $75.3M | 100¢ | +1 pts |
| B••• O•• T••••••••• F•••••• C•••• | $21M | 100¢ | 0 pts |
Every BDC piece · 9 positions across 4 lenderslargest principal first, with instrument and rate
| BDC | Instrument | Principal | Fair value | Rate |
|---|---|---|---|---|
| B••• O•• C••••• I••••• C•••• | term loan first lien F•••• lien senior secured loan | $128M | $127M 101c | S+800 bp |
| B••• O•• T••••••••• F•••••• C•••• I• | term loan first lien F•••• lien senior secured loan | $113M | $112M 101c | S+800 bp |
| B••• O•• T••••••••• I••••• C•••• | term loan first lien F•••• lien senior secured loan 1 | $53.2M | $52.8M 100c | S+800 bp |
| B••• O•• T••••••••• I••••• C•••• | term loan first lien F•••• lien senior secured loan 2 | $22.1M | $21.9M 101c | S+800 bp |
| B••• O•• T••••••••• F•••••• C•••• | term loan first lien F•••• lien senior secured loan | $21.0M | $20.9M 100c | S+800 bp |
View all 9 positionsShow fewerlargest principal first
| BDC | Instrument | Principal | Fair value | Rate |
|---|---|---|---|---|
| B••• O•• C••••• I••••• C•••• | revolver first lien F•••• lien senior secured revolving loan | $0 | -$18,000 106c | S+800 bp |
| B••• O•• T••••••••• F•••••• C•••• | revolver first lien F•••• lien senior secured revolving loan | $0 | -$7,000 100c | S+800 bp |
| B••• O•• T••••••••• F•••••• C•••• I• | revolver first lien F•••• lien senior secured revolving loan | $0 | -$44,000 107c | S+800 bp |
| B••• O•• T••••••••• I••••• C•••• | revolver first lien F•••• lien senior secured revolving loan | $0 | -$44,000 107c | S+800 bp |
Capital structure as the BDCs see it
latest quarter end Mar 31, 2024
| Facility | Held | On cost | Pricing | Maturity | BDCs |
|---|---|---|---|---|---|
| first lien term loan first lien exited Mar 31, 2024 | at least $337M | 101c | S+800 bp | Jul 1, 2028 | 4 |
| first lien revolver first lien exited Mar 31, 2024 | at least $0 | n/a | S+800 bp | Jul 1, 2028 | 4 |
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 | 4 | $337M | $334M | 101c | 0 |
| Dec 31, 2023 | 4 | $542M | $533M | 100c | 0 |
| Sep 30, 2023 | 4 | $339M | $333M | 100c | 0 |
| Jun 30, 2023 | 4 | $291M | $285M | 99c | 0 |
All 6 quartersShow fewer
| Quarter end | BDCs | Principal held | Fair value | On cost | PIK pieces |
|---|---|---|---|---|---|
| Mar 31, 2023 | 4 | $139M | $139M | 101c | 0 |
| Dec 31, 2022 | 4 | $139M | $138M | 100c | 0 |
What changed
- Facility left every BDC scheduleMar 31, 2024
- Spread increasedMar 31, 2024
- Facility left every BDC scheduleMar 31, 2024
- Spread increasedSep 30, 2023
- Spread increasedSep 30, 2023
Full timeline · 14 eventsShow fewer
- Spread changed (observed)Sep 30, 2023
- Spread changed (observed)Jun 30, 2023
- Spread increasedJun 30, 2023
- Spread increasedJun 30, 2023
- Spread increasedJun 30, 2023
- Spread increasedJun 30, 2023
- Spread increasedJun 30, 2023
- Spread increasedJun 30, 2023
- New borrower on a BDC scheduleDec 31, 2022
Sponsor
Possible relationship, not established: P••••••••• P••••••• M••••••••• C••• L•••••, because a company of this name is on the sponsor's portfolio page (confidence 0.5). No deal announcement or filing names it as a party, so it is not shown as this borrower’s sponsor.
- P••••••••• P••••••• M••••••••• C••• L•••••
- the sponsor's own portfolio page lists a company of this nameestimatedpeakequity.com"••• Locked"
Identity
- Group key
- GRAYSHIFTderivedthe codename stem after legal suffixes and deal words
- Spellings
- 1 across 4 BDCsderived