DFX Intelligence
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Borrower
S••••••• P••••••• G••••• I••
Containers & Packaginggroup grade Aoff every schedule since Jun 30, 2023sponsor unattributed
Also written as: S••••••• P•••••••
Nothing material in the last 200 days. No dated change on record yet.
Principal held
at least $22.5M
sum of BDC pieces, a lower bound
Fair value
Not disclosed
n/a on cost, debt pieces
Unfunded
Not disclosed
commitments not yet drawn
BDC lenders
3
2 on the latest quarter
Facilities
2
0 equity pieces beside them
Next maturity
Jan 31, 2026
no dated debt inside 24 months
On the tape since
Dec 31, 2022
latest Jun 30, 2023
Events
3
dated, non-routine
Lender marks
each lender's own fair value over cost at Jun 30, 2023, folded to one row per lender
| Lender | Exposure | Current mark | QoQ change |
|---|---|---|---|
| G•••••• S•••• B••• I••• | $12.5M | no cost filed | no comparable mark |
| S••••• C•••••• H••••••• L•• | $9.98M | no cost filed | no comparable mark |
Every BDC piece · 2 positions across 2 lenderslargest principal first, with instrument and rate
| BDC | Instrument | Principal | Fair value | Rate |
|---|---|---|---|---|
| G•••••• S•••• B••• I••• | term loan second lien 2nd L•••/S••••• S•••••• D••• I••••••• C••••••••• & P•••••••• I••••••• R••• 12.58% R••••••• | $12.5M | Not disclosed | S+700 bp |
| S••••• C•••••• H••••••• L•• | term loan second lien 2nd L•••/S••••• S•••••• D••• I••••••• R••• 12.58% R•••••••• R••• and S••••• L + 7.00% M••• | $10.0M | Not disclosed | S+700 bp |
Capital structure as the BDCs see it
latest quarter end Jun 30, 2023
| Facility | Held | On cost | Pricing | Maturity | BDCs |
|---|---|---|---|---|---|
| second lien term loan second lien exited Jun 30, 2023 | at least $22.5M | n/a | S+700 bp | Jan 31, 2026 | 2 |
| first lien term loan first lien exited Dec 31, 2022 | at least $2.6M | 99c | //www.audaxcreditbdc.com/20231231#London Interbank Offered Rate+325 bp | Jan 31, 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 |
|---|---|---|---|---|---|
| Jun 30, 2023 | 2 | $22.5M | $0 | n/a | 0 |
| Mar 31, 2023 | 2 | $22.5M | $0 | n/a | 0 |
| Dec 31, 2022 | 3 | $25.1M | $22.8M | 94c | 0 |
What changed
- Facility left every BDC scheduleJun 30, 2023
- New borrower on a BDC scheduleDec 31, 2022
- Facility left every 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
- SPECTRUM PLASTICSderivedthe codename stem after legal suffixes and deal words
- Spellings
- 2 across 3 BDCsderived
- Industry
- Containers & Packagingreportedas one filer wrote it