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A private credit borrower delayed draw term loan

Credit facilityborrower A private credit borrower
lien unstatedoff every schedule since Jun 30, 2024Professional Servicessponsor not established · possible relationship
Principal held
unknown
sum of BDC pieces, a lower bound
Fair value
Not disclosed
n/a on cost
Unfunded
$23.5M
pieces' unfunded commitments
Pricing
S+525 bp
floor 0.75%
PIK
none stated
Maturity
unstated
Lenders
0 holding
2 exited · 0 named on a deal
On the tape
1 quarters
Jun 30, 2024 to Jun 30, 2024

Lender group

every BDC that holds or held a piece; each row is that lender's own figures
LenderStatusPrincipalFair valueSpreadHeld
T Series BDC LLC
MS CAPITAL PARTNERS ADVISER INC.
exited · 3 piecesNot disclosedNot disclosed525 bpJun 30, 2024 to Jun 30, 2024
Morgan Stanley Direct Lending Fund
MS CAPITAL PARTNERS ADVISER INC.
exitedNot disclosedNot disclosedJun 30, 2024 to Jun 30, 2024

Facility through time

pieces summed per quarter end across the BDCs holding it
Quarter endBDCsPrincipal heldOn costSpreadPIKMaturity
Jun 30, 20242Not disclosedn/a525 bp

What changed on this facility

position and facility grain, including routine
Order
  • Effective
    30 Jun 2024
    Lender left a facility
    a withheld name
  • Effective
    30 Jun 2024
    Facility left every BDC schedule
  • Effective
    30 Jun 2024
    New lender joined a facility2 events
    T Series BDC LLC: new lender joined a facility, 2 lenders, at the 30 Jun 2024 quarter end

Other pieces of this borrower's structure

How this facility is known

Grain
A private credit borrower x delayed draw term loanderivedborrower group x kind x lien; tranches with different maturities sit under it
Size
lower bound: sum of BDC piecesderived
Possible relationship
Sterling Investment Partners Advisers, LLC, not establishedestimatedgraded chain current; no deal party names it, so it is not shown as the sponsor
Sponsor basis
graded chain currentestimated
Status
performingsignalnon-accrual comes only from a BDC's own schedule footnote, never from a mark; default and restructuring are not on this tape
Origin
bdc tapereported