DFX Intelligence
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Borrower
E• M••••• L••• •
Technology)group grade Aoff every schedule since Mar 31, 2024sponsor unattributed
Also written as: Element Materials; E• M••••• L••• •dba Element Materials
Nothing material in the last 200 days. No dated change on record yet.
Mark path, consensus per quarter end
99¢ · 98¢ · 99¢ · 99¢ · 100¢Q1 2023 to Q1 2024
Principal held
at least $27.6M
sum of BDC pieces, a lower bound
Fair value
$27.6M
100c 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
Jun 1, 2029
no dated debt inside 24 months
On the tape since
Dec 31, 2022
latest Mar 31, 2024
Events
2
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•••• | $27.6M | 100¢ | +1 pts |
Every BDC piece · 1 position across 1 lenderlargest 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 1 | $27.6M | $27.6M 100c | S+425 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 $27.6M | 100c | S+425 bp | Jun 1, 2029 | 1 |
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 | 1 | $27.6M | $27.6M | 100c | 0 |
| Dec 31, 2023 | 1 | $27.7M | $27.4M | 99c | 0 |
| Sep 30, 2023 | 1 | $27.7M | $27.3M | 99c | 0 |
| Jun 30, 2023 | 1 | $27.8M | $27.2M | 98c | 0 |
All 6 quartersShow fewer
| Quarter end | BDCs | Principal held | Fair value | On cost | PIK pieces |
|---|---|---|---|---|---|
| Mar 31, 2023 | 1 | $27.9M | $27.5M | 99c | 0 |
| Dec 31, 2022 | 1 | $27.9M | $27.4M | 98c | 0 |
What changed
- Facility left every BDC scheduleMar 31, 2024
- 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
- EM MIDCO2derivedthe codename stem after legal suffixes and deal words
- Spellings
- 1 across 1 BDCderived
- Industry
- Technology)reportedas one filer wrote it