DFX Intelligence
Private Credit Intelligence
The capital structure graph behind private markets. Who lent, to whom, under which sponsor, through which facility, how large the piece was, when it matures and what changed, with a filing behind every number. A BDC piece is that BDC's piece, a sum of pieces is a lower bound, and a sponsor is named with the evidence that names it.
Borrower
Packaging Coordinators Midco, Inc
Healthcare, Education and Childcaregroup grade Aon a schedule nowsponsor unattributed
Also written as: 2025 Multicurrency; Inc. 2025; Inc. 2025 General; Inc. 2025 Initial Dollar; Inc. 2025 Specified; Inc. Initial Dollar; Inc. Specified Interest; PCI Pharma
Principal held
at least $1.6B
sum of BDC pieces, a lower bound
Fair value
$1.5B
100c on cost, debt pieces
Unfunded
$245M
commitments not yet drawn
BDC lenders
22
16 on the latest quarter
Facilities
7
1 equity pieces beside them
Next maturity
Jul 1, 2027
$13.9M inside 24 months
On the tape since
Dec 31, 2021
latest Jun 30, 2026
Events
13
dated, non-routine
Capital structure as the BDCs see it
latest quarter end Jun 30, 2026
| Facility | Held | On cost | Pricing | Maturity | BDCs |
|---|---|---|---|---|---|
| first lien term loan first lien | at least $1.4B | 100c | SOFR+500 bp | Oct 15, 2032 | 20 |
| first lien delayed draw term loan first lien | at least $171M | 100c | SOFR+500 bp | Oct 15, 2032 | 6 |
| first lien revolver first lien | at least $0 | n/a | SOFR+50 bp | Jul 9, 2032 | 6 |
| revolver lien unstated | unknown | n/a | unstated | 2 | |
| delayed draw term loan lien unstated | unknown | n/a | unstated | 2 | |
| second lien term loan second lien exited Dec 31, 2023 | at least $342M | 101c | S+700 bp | Dec 1, 2029 | 4 |
| other lien unstated exited Mar 31, 2026 | at least $62.5M | 101c | S+500 bp | Oct 15, 2032 | 5 |
Equity pieces beside the debt: equity ($455,000 fair value, 4 BDCs)
Lenders
every BDC piece at the latest quarter end
| BDC | Instrument | Principal | Fair value | Rate |
|---|---|---|---|---|
| Blue Owl Capital Corp | revolver first lien First lien senior secured revolving loan | n/a | $-169,000 | |
| Blue Owl Capital Corp | delayed draw term loan first lien First lien senior secured delayed draw term loan | n/a | $-54,000 | |
| Blue Owl Capital Corp | delayed draw term loan first lien First lien senior secured delayed draw term loan | Non-Affiliated | $14.4M | $18.9M 100c | S+500 bp |
| Blue Owl Capital Corp | term loan first lien First lien senior secured loan | Non-Affiliated | $160M | $158M 100c | S+500 bp |
| Blue Owl Credit Income Corp. | term loan first lien First lien senior secured loan | Non-Affiliated Issuer | $523M | $518M 100c | S+500 bp |
| Blue Owl Credit Income Corp. | revolver first lien First lien senior secured revolving loan | Non-controlled/non-affiliated | n/a | n/a | |
| Blue Owl Credit Income Corp. | delayed draw term loan first lien First lien senior secured delayed draw term loan | Non-Affiliated Issuer | $44.2M | $58.1M 100c | S+500 bp |
| Blue Owl Credit Income Corp. | delayed draw term loan first lien First lien senior secured delayed draw term loan | Non-controlled/non-affiliated | n/a | n/a | |
| Blue Owl Technology Finance Corp. | revolver first lien First lien senior secured revolving loan | Non-Affiliated Issuer | n/a | $-144,000 | |
| Blue Owl Technology Finance Corp. | delayed draw term loan first lien First lien senior secured delayed draw term loan | Non-Affiliated Issuer, 10/2027 | n/a | $-55,000 | |
| Blue Owl Technology Finance Corp. | term loan first lien First lien senior secured loan | Non-Affiliated Issuer | $147M | $146M 100c | S+500 bp |
| Blue Owl Technology Finance Corp. | delayed draw term loan first lien First lien senior secured delayed draw term loan | Non-Affiliated Issuer | $12.4M | $16.3M 100c | S+500 bp |
| Blue Owl Technology Income Corp. | delayed draw term loan first lien First lien senior secured delayed draw term loan 2 | $7.8M | $10.2M 100c | S+500 bp |
| Blue Owl Technology Income Corp. | delayed draw term loan first lien First lien senior secured delayed draw term loan | n/a | $-34,000 | |
| Blue Owl Technology Income Corp. | revolver first lien First lien senior secured revolving loan | n/a | $-90,000 | |
| Blue Owl Technology Income Corp. | delayed draw term loan first lien First lien senior secured delayed draw term loan 1 | $92.3M | $91.4M 100c | S+500 bp |
| Goldman Sachs Private Credit Corp. | term loan first lien 1st Lien/Senior Secured Debt Industry Health Care Providers & Services Interest Rate 8.66% | $6.3M | $5.1M 100c | SOFR+500 bp |
| Goldman Sachs Private Credit Corp. | term loan first lien 1st Lien/Senior Secured Debt Industry Health Care Providers & Services Reference Rate and | $31.8M | $-318,000 89c | SOFR+500 bp |
| Goldman Sachs Private Credit Corp. | term loan first lien 1st Lien/Senior Secured Debt Industry Health Care Providers & Services Reference Rate and | $14.2M | $-142,000 | SOFR+500 bp |
| Goldman Sachs Private Credit Corp. | term loan first lien 1st Lien/Senior Secured Debt Industry Health Care Providers & Services Interest Rate 8.73% | $18.8M | $24.7M 100c | SONIA+500 bp |
| Goldman Sachs Private Credit Corp. | term loan first lien 1st Lien/Senior Secured Debt Industry Health Care Providers & Services Reference Rate and | $43.8M | $-438,000 78c | SOFR+500 bp |
| Goldman Sachs Private Credit Corp. | term loan first lien 1st Lien/Senior Secured Debt Industry Health Care Providers & Services Reference Rate and | $14.6M | $-146,000 221c | SOFR+500 bp |
| Goldman Sachs Private Credit Corp. | term loan first lien 1st Lien/Senior Secured Debt Industry Health Care Providers & Services Interest Rate 8.66% | $274M | $271M 100c | SOFR+500 bp |
| Golub Capital BDC 4, Inc. | term loan first lien One stop 5 | $0 | $-1,000 | |
| Golub Capital BDC 4, Inc. | term loan first lien One stop 1 | $1.7M | $1.6M 100c | S+500 bp |
| Golub Capital BDC 4, Inc. | term loan first lien One stop 4 | $32,000 | $31,000 97c | S+500 bp |
| Golub Capital BDC 4, Inc. | term loan first lien One stop 2 | $0 | $-4,000 200c | |
| Golub Capital BDC 4, Inc. | term loan first lien One stop 7 | $0 | $-2,000 200c | |
| Golub Capital BDC 4, Inc. | term loan first lien One stop 6 | $3.3M | $3.2M 99c | S+500 bp |
| Golub Capital BDC 4, Inc. | term loan first lien One stop 3 | $0 | $-5,000 | |
| GOLUB CAPITAL BDC, Inc. | term loan first lien One stop 6 | Non-Affiliated Issuer | $0 | $-6,000 200c | |
| GOLUB CAPITAL BDC, Inc. | term loan first lien One stop 4 | Non-Affiliated Issuer | $12.3M | $12.1M 99c | S+500 bp |
| GOLUB CAPITAL BDC, Inc. | term loan first lien One stop 5 | Non-Affiliated Issuer | $119,000 | $116,000 97c | S+500 bp |
| GOLUB CAPITAL BDC, Inc. | equity equity LP interest | Non-Affiliated Issuer | n/a | $389,000 86c | |
| GOLUB CAPITAL BDC, Inc. | term loan first lien One stop 3 | Non-Affiliated Issuer | $0 | $-19,000 | |
| GOLUB CAPITAL BDC, Inc. | term loan first lien One stop 7 | Non-Affiliated Issuer | $0 | $-6,000 | |
| GOLUB CAPITAL BDC, Inc. | term loan first lien One stop 1 | Non-Affiliated Issuer | $6.3M | $6.2M 100c | S+500 bp |
| GOLUB CAPITAL BDC, Inc. | term loan first lien One stop 2 | Non-Affiliated Issuer | $0 | $-14,000 200c | |
| GOLUB CAPITAL DIRECT LENDING CORP | term loan first lien One stop 2 | $584,000 | $573,000 99c | S+500 bp |
| GOLUB CAPITAL DIRECT LENDING CORP | term loan first lien One stop 3 | $0 | $-1,000 100c | |
| GOLUB CAPITAL DIRECT LENDING CORP | equity equity LP interest | n/a | $66,000 87c | |
| GOLUB CAPITAL DIRECT LENDING CORP | term loan first lien One stop 6 | $0 | $-1,000 | |
| GOLUB CAPITAL DIRECT LENDING CORP | term loan first lien One stop 7 | $0 | $-1,000 | |
| GOLUB CAPITAL DIRECT LENDING CORP | term loan first lien One stop 4 | $0 | $-2,000 | |
| GOLUB CAPITAL DIRECT LENDING CORP | term loan first lien One stop 1 | $1.2M | $1.1M 99c | S+500 bp |
| GOLUB CAPITAL DIRECT LENDING CORP | term loan first lien One stop 5 | $11,000 | $11,000 100c | S+500 bp |
| Golub Capital Private Credit Fund | term loan first lien One stop 1 | $33.5M | $32.8M 100c | S+500 bp |
| Golub Capital Private Credit Fund | term loan first lien One stop 7 | $16.3M | $16.0M 99c | S+500 bp |
| Golub Capital Private Credit Fund | term loan first lien One stop 6 | $0 | $-30,000 188c | |
| Golub Capital Private Credit Fund | term loan first lien One stop 2 | $0 | $-72,000 195c | |
| Golub Capital Private Credit Fund | term loan first lien One stop 3 | $0 | $-102,000 | |
| Golub Capital Private Credit Fund | term loan first lien One stop 4 | $632,000 | $617,000 98c | S+500 bp |
| Golub Capital Private Credit Fund | term loan first lien One stop 5 | $0 | $-29,000 | |
| New Mountain Guardian IV BDC, L.L.C. | term loan first lien First Lien 3 | $850,000 | $846,000 101c | S+500 bp |
| New Mountain Guardian IV BDC, L.L.C. | term loan first lien First Lien - Undrawn 4 | $3.9M | $-19,000 | |
| New Mountain Guardian IV BDC, L.L.C. | term loan first lien First Lien - Undrawn 3 | $2.9M | $-14,000 108c | |
| New Mountain Guardian IV BDC, L.L.C. | term loan first lien First Lien - Undrawn 2 | $966,000 | $-5,000 | |
| New Mountain Guardian IV BDC, L.L.C. | term loan first lien First Lien - Drawn | $114,000 | $114,000 100c | S+500 bp |
| New Mountain Guardian IV BDC, L.L.C. | term loan first lien First Lien - Undrawn 5 | $3.8M | $-19,000 | |
| New Mountain Guardian IV BDC, L.L.C. | term loan first lien First Lien 1 | $5.1M | $5.1M 100c | S+500 bp |
| New Mountain Guardian IV BDC, L.L.C. | term loan first lien First Lien 2 | $1.0M | $1.0M 100c | S+500 bp |
| New Mountain Guardian IV BDC, L.L.C. | term loan first lien First Lien - Undrawn 1 | $25,000 | $0 | |
| New Mountain Guardian IV Income Fund, L.L.C. | term loan first lien First Lien - Undrawn 2 | Non-Affiliated Issuer | $228,000 | $-1,000 100c | |
| New Mountain Guardian IV Income Fund, L.L.C. | term loan first lien First Lien - Undrawn 5 | Non-Affiliated Issuer | $912,000 | $-5,000 | |
| New Mountain Guardian IV Income Fund, L.L.C. | term loan first lien First Lien - Undrawn 1 | Non-Affiliated Issuer | $6,000 | $0 | |
| New Mountain Guardian IV Income Fund, L.L.C. | term loan first lien First Lien - Undrawn 4 | Non-Affiliated Issuer | $890,000 | $-4,000 | |
| New Mountain Guardian IV Income Fund, L.L.C. | term loan first lien First Lien | Non-Affiliated Issuer | $1.4M | $1.4M 100c | S+500 bp |
| New Mountain Guardian IV Income Fund, L.L.C. | term loan first lien First Lien - Drawn | Non-Affiliated Issuer | $27,000 | $27,000 100c | S+500 bp |
| New Mountain Guardian IV Income Fund, L.L.C. | term loan first lien First Lien - Undrawn 3 | Non-Affiliated Issuer | $679,000 | $-3,000 100c | |
| New Mountain Private Credit Fund | term loan first lien First Lien Undrawn 5 | Non-Affiliated Issuer | $3.6M | $-18,000 | |
| New Mountain Private Credit Fund | term loan first lien First Lien Undrawn 2 | Non-Affiliated Issuer | $910,000 | $-5,000 125c | |
| New Mountain Private Credit Fund | term loan first lien First lien | Non-Affiliated Issuer | n/a | n/a | |
| New Mountain Private Credit Fund | term loan first lien First Lien Undrawn 4 | Non-Affiliated Issuer | $3.6M | $-18,000 | |
| New Mountain Private Credit Fund | term loan first lien First Lien Drawn | Non-Affiliated Issuer | $108,000 | $107,000 99c | S+500 bp |
| New Mountain Private Credit Fund | term loan first lien First Lien 2 | Non-Affiliated Issuer | $604,000 | $797,000 100c | S+500 bp |
| New Mountain Private Credit Fund | term loan first lien First Lien 1 | Non-Affiliated Issuer | $5.8M | $5.7M 100c | S+500 bp |
| New Mountain Private Credit Fund | term loan first lien First Lien Undrawn 3 | Non-Affiliated Issuer | $2.7M | $-14,000 117c | |
| New Mountain Private Credit Fund | term loan first lien First Lien Undrawn 1 | Non-Affiliated Issuer | $23,000 | $0 | |
| NMF SLF I, Inc. | term loan first lien First Lien - Undrawn | Non-Affiliated Issuer | n/a | $10,000 111c | |
| NMF SLF I, Inc. | term loan first lien First lien - Drawn | Non-Affiliated Issuer | $78,000 | $78,000 100c | S+500 bp |
| NMF SLF I, Inc. | term loan first lien First Lien - Undrawn | Non-Affiliated Issuer | $17,000 | $0 | |
| NMF SLF I, Inc. | term loan first lien First lien | Non-Affiliated Issuer | $700,000 | $697,000 100c | S+500 bp |
| NMF SLF I, Inc. | term loan first lien First lien | Non-Affiliated Issuer | $3.5M | $3.5M 100c | S+500 bp |
| NMF SLF I, Inc. | term loan first lien First Lien - Undrawn | Non-Affiliated Issuer | $2.6M | $13,000 | |
| NMF SLF I, Inc. | term loan first lien First Lien - Undrawn | Non-Affiliated Issuer | $2.6M | $13,000 | |
| NMF SLF I, Inc. | term loan first lien First Lien - Undrawn | Non-Affiliated Issuer | n/a | $3,000 100c | |
| OHA Senior Private Lending Fund (U) LLC | term loan first lien First Lien Debt | $7.3M | $7.2M 100c | S+500 bp |
| OHA Senior Private Lending Fund (U) LLC | delayed draw term loan lien unstated 2025 Initial Dollar SP Delayed Draw Term Loan | n/a | n/a | |
| OHA Senior Private Lending Fund (U) LLC | delayed draw term loan lien unstated 2025 Refinancing Delayed Draw Term Loan | n/a | n/a | |
| OHA Senior Private Lending Fund (U) LLC | term loan first lien First Lien Debt | $617,000 | $-8,000 114c | S+500 bp |
| OHA Senior Private Lending Fund (U) LLC | term loan first lien First Lien Debt | $501,000 | $657,000 100c | S+500 bp |
| OHA Senior Private Lending Fund (U) LLC | term loan first lien First Lien Debt | $168,000 | $136,000 99c | S+500 bp |
| OHA Senior Private Lending Fund (U) LLC | revolver lien unstated 2025 Revolver | n/a | n/a | |
| OHA Senior Private Lending Fund (U) LLC | term loan first lien First Lien Debt | $1.2M | $-14,000 127c | S+500 bp |
| Stepstone Private Credit Fund LLC | term loan first lien Term Loan | NCNA Debt Inv. | First Lien Senior Secured Loan | 7/9/2032 | $1.7M | $1.7M 100c | SOFR+500 bp |
| Stepstone Private Credit Fund LLC | delayed draw term loan first lien Delayed Draw Term Loan (Tranche Out) | NCNA Debt Inv. | First Lien Senior Secured Loan | 7 | $227,000 | $226,000 100c | SOFR+500 bp |
| Stepstone Private Credit Fund LLC | revolver first lien Revolving Loan | NCNA Debt Inv. | First Lien Senior Secured Loan | 7/9/2032 | $0 | $0 0c | SOFR+50 bp |
| Stepstone Private Credit Fund LLC | delayed draw term loan first lien Delayed Draw Term Loan | NCNA Debt Inv. | First Lien Senior Secured Loan | 10/15/2032 | $0 | $-1,000 | SOFR+0 bp |
| Stepstone Private Credit Fund LLC | delayed draw term loan first lien Delayed Draw Term Loan | NCNA Debt Inv. | First Lien Senior Secured Loan | 7/9/2032 | $0 | $0 0c | SOFR+100 bp |
| Stepstone Private Credit Fund LLC | delayed draw term loan first lien Delayed Draw Term Loan | NCNA Debt Inv. | First Lien Senior Secured Loan | 10/15/2032 | $0 | $-1,000 5c | SOFR+100 bp |
| Stepstone Private Credit Fund LLC | term loan first lien Term Loan | NCNA Debt Inv. | First Lien Senior Secured Loan | 7/9/2032 One | $9.8M | $9.8M 100c | SOFR+500 bp |
| T. Rowe Price OHA Select Private Credit Fund | delayed draw term loan lien unstated 2025 Refinancing Delayed Draw Term Loan | n/a | n/a | |
| T. Rowe Price OHA Select Private Credit Fund | term loan first lien First Lien Debt | $3.9M | $-48,000 112c | S+500 bp |
| T. Rowe Price OHA Select Private Credit Fund | term loan first lien First Lien Debt | $1.6M | $-19,000 271c | S+500 bp |
| T. Rowe Price OHA Select Private Credit Fund | term loan first lien First Lien Debt | $5.8M | $-73,000 124c | S+500 bp |
| T. Rowe Price OHA Select Private Credit Fund | revolver lien unstated 2025 Revolver | n/a | n/a | |
| T. Rowe Price OHA Select Private Credit Fund | term loan first lien First Lien Debt | $1.5M | $-19,000 | S+500 bp |
| T. Rowe Price OHA Select Private Credit Fund | term loan first lien First Lien Debt | $36.5M | $36.1M 100c | S+500 bp |
| T. Rowe Price OHA Select Private Credit Fund | delayed draw term loan lien unstated 2025 Delayed Draw Term Loan (200mm) | n/a | n/a | |
| T. Rowe Price OHA Select Private Credit Fund | delayed draw term loan lien unstated 2025 Delayed Draw Term Loan (205mm) | n/a | n/a | |
| T. Rowe Price OHA Select Private Credit Fund | delayed draw term loan lien unstated 2025 Initial Dollar SP Delayed Draw Term Loan | n/a | n/a | |
| T. Rowe Price OHA Select Private Credit Fund | term loan first lien First Lien Debt | $838,000 | $679,000 99c | S+500 bp |
| T. Rowe Price OHA Select Private Credit Fund | term loan first lien First Lien Debt | $2.5M | $3.3M 100c | S+500 bp |
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, 2026 | 16 | $1.6B | $1.5B | 100c | 0 |
| Mar 31, 2026 | 16 | $1.6B | $1.5B | 100c | 0 |
| Dec 31, 2025 | 16 | $2.0B | $1.8B | 101c | 6 |
| Sep 30, 2025 | 13 | $1.3B | $1.1B | 100c | 0 |
| Jun 30, 2025 | 13 | $1.3B | $1.1B | 100c | 0 |
| Mar 31, 2025 | 9 | $1.2B | $1.0B | 100c | 0 |
What changed
- Spread increasedJun 30, 2026
- Maturity extended (observed)Jun 30, 2026
- Spread changed (observed)Mar 31, 2026
- Facility left every BDC scheduleMar 31, 2026
- Spread increasedMar 31, 2026
- Spread increasedMar 31, 2026
- Spread increasedMar 31, 2026
- Spread increasedMar 31, 2026
- Spread increasedMar 31, 2026
- Spread increasedMar 31, 2026
- Spread changed (observed)Mar 31, 2026
- Maturity shortened (observed)Mar 31, 2026
- Maturity extended (observed)Mar 31, 2026
- Maturity extended (observed)Mar 31, 2026
- PIK interest appearsDec 31, 2025
- Lender left a facilityDec 31, 2025
- PIK interest appearsDec 31, 2025
- New lender joined a facilityDec 31, 2025
- New lender joined a facilityDec 31, 2025
- New lender joined a facilityDec 31, 2025
- New lender joined a facilityDec 31, 2025
- New lender joined a facilityDec 31, 2025
- New lender joined a facilityDec 31, 2025
- PIK interest appearsDec 31, 2025
- PIK interest appearsDec 31, 2025
- Maturity extended (observed)Dec 31, 2025
- Maturity extended (observed)Dec 31, 2025
- Maturity extended (observed)Dec 31, 2025
- Maturity extended (observed)Dec 31, 2025
- Maturity extended (observed)Dec 31, 2025
Sponsor
No sponsor attribution: no portfolio page, deal announcement or Form D signer consensus names an owner for this borrower group.
Identity
- Group key
- PACKAGING COORDINATORSderivedthe codename stem after legal suffixes and deal words
- Spellings
- 1 across 22 BDCsderived
- Industry
- Healthcare, Education and Childcarereportedas one filer wrote it