DFX Intelligence
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Borrower
V••••••
Health Care Technologygroup grade Aon a schedule nowsponsor unattributed
Also written as: Vaxcare Intermediate II LLC
Nothing material in the last 200 days. No dated change on record yet.
Mark path, consensus per quarter end
100¢ · 101¢ · 101¢ · 100¢ · 101¢Q2 2025 to Q2 2026
Where each lender marks it, 0 points apart
101¢101¢
Principal held
at least $89.7M
sum of BDC pieces, a lower bound
Fair value
$79.9M
101c on cost, debt pieces
Unfunded
$10.1M
commitments not yet drawn
BDC lenders
5
5 on the latest quarter
Facilities
4
0 equity pieces beside them
Next maturity
Jun 17, 2032
no dated debt inside 24 months
On the tape since
Dec 31, 2024
latest Jun 30, 2026
Events
3
dated, non-routine
Lender marks
each lender's own fair value over cost at Jun 30, 2026, folded to one row per lender
| Lender | Exposure | Current mark | QoQ change |
|---|---|---|---|
| H•• C•••••••• L•••••• F••• | $71.2M | 101¢ | +1 pts |
| J•••••••• C••••• P••••••• B•• I••• | $10.7M | 101¢ | +1 pts |
| S••••• C••••• I••••••••• L•• | $3.44M | 101¢ | +1 pts |
| A•••• P•••••• C••••• F•••• L•• | $3.44M | 101¢ | 0 pts |
| A•••• C••••• B•• I••• | $859K | 101¢ | 0 pts |
Every BDC piece · 15 positions across 5 lenderslargest principal first, with instrument and rate
| BDC | Instrument | Principal | Fair value | Rate |
|---|---|---|---|---|
| H•• C•••••••• L•••••• F••• | revolver first lien N••••••••• I••••• | $59.3M | $59.3M 101c | S+425 bp |
| H•• C•••••••• L•••••• F••• | revolver first lien N••••••••• I••••• | $12.0M | $2.3M 105c | S+325 bp |
| J•••••••• C••••• P••••••• B•• I••• | term loan first lien T••• F•••• L••• T••• L••• R•••••••• R••• and S••••• S + 4.25% M••••••• D••• 6/17/2032 | $10.6M | $10.6M 101c | SOFR+425 bp |
| S••••• C••••• I••••••••• L•• | term loan first lien T••• F•••• L••• T••• L••• R•••••••• R••• and S••••• S + 4.25% M••••••• D••• 6/17/2032 | $3.4M | $3.4M 101c | SOFR+425 bp |
| A•••• P•••••• C••••• F•••• L•• | term loan first lien Investment T••• U••••••••• T••• L••• I•••• S+ S••••• 4.25% I••••••• R••• 7.98% A••••••••• | $3.3M | $3.3M 101c | SOFR+425 bp |
View all 15 positionsShow fewerlargest principal first
| BDC | Instrument | Principal | Fair value | Rate |
|---|---|---|---|---|
| A•••• C••••• B•• I••• | term loan first lien Investment T••• U••••••••• T••• L••• I•••• S+ S••••• 4.25% I••••••• R••• 7.98% A••••••••• | $827,083 | $827,083 101c | SOFR+425 bp |
| A•••• P•••••• C••••• F•••• L•• | revolver first lien Investment T••• U••••••••• R••••••• I•••• S+ S••••• 4.50% I••••••• R••• 8.23% A••••••••• D | $126,667 | $126,666 105c | SOFR+450 bp |
| J•••••••• C••••• P••••••• B•• I••• | revolver first lien T••• F•••• L••• R••••••• R•••••••• R••• and S••••• P + 3.25% M••••••• D••• 6/17/2032 | $72,000 | $72,000 104c | Prime+325 bp |
| A•••• C••••• B•• I••• | revolver first lien Investment T••• U••••••••• R••••••• I•••• S+ S••••• 4.50% I••••••• R••• 8.23% A••••••••• D | $31,667 | $31,667 106c | SOFR+450 bp |
| S••••• C••••• I••••••••• L•• | revolver first lien T••• F•••• L••• R••••••• R•••••••• R••• and S••••• P + 3.25% M••••••• D••• 6/17/2032 One | $23,000 | $23,000 105c | Prime+325 bp |
| A•••• C••••• B•• I••• | revolver first lien Investment T••• S••••• S•••••• R•••••••• Credit L••• I•••• S+ S••••• 4.50% I••••••• R••• 8 | Not disclosed | Not disclosed | SOFR+450 bp |
| A•••• P•••••• C••••• F•••• L•• | revolver first lien U••••••••• R••••••• M••••••• 6/17/2032 | Not disclosed | Not disclosed | SOFR+450 bp |
| H•• C•••••••• L•••••• F••• | revolver first lien 1st L••• S••••• S•••••• R•••••••• L••• | Not disclosed | Not disclosed | |
| J•••••••• C••••• P••••••• B•• I••• | revolver first lien Investment T••• F•••• L••• R••••••• | Not disclosed | $-0 | S+325 bp |
| S••••• C••••• I••••••••• L•• | revolver first lien Investment T••• F•••• L••• R••••••• One | Not disclosed | $-0 | S+325 bp |
Capital structure as the BDCs see it
latest quarter end Jun 30, 2026
| Facility | Held | On cost | Pricing | Maturity | BDCs |
|---|---|---|---|---|---|
| first lien revolver first lien | at least $71.5M | 101c | SOFR+450 bp | Jun 17, 2032 | 5 |
| first lien term loan first lien | at least $18.2M | 101c | SOFR+425 bp | Jun 17, 2032 | 4 |
| revolver lien unstated exited Dec 31, 2024 | unknown | n/a | S+450 bp | Jun 17, 2032 | 1 |
| other lien unstated exited Mar 31, 2026 | unknown | 100c | S+425 bp | Jun 17, 2032 | 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, 2026 | 5 | $89.7M | $79.9M | 101c | 0 |
| Mar 31, 2026 | 5 | $18.2M | $18.1M | 101c | 0 |
| Dec 31, 2025 | 5 | $93.1M | $81.1M | 101c | 0 |
| Sep 30, 2025 | 5 | $90.0M | $77.7M | 101c | 0 |
All 6 quartersShow fewer
| Quarter end | BDCs | Principal held | Fair value | On cost | PIK pieces |
|---|---|---|---|---|---|
| Jun 30, 2025 | 5 | $90.0M | $77.1M | 100c | 0 |
| Dec 31, 2024 | 2 | $0 | $0 | n/a | 0 |
What changed
- Facility left every BDC scheduleMar 31, 2026
- New lender joined a facilityJun 30, 2025
- New lender joined a facilityJun 30, 2025
- New lender joined a facilityJun 30, 2025
- New borrower on a BDC scheduleDec 31, 2024
Full timeline · 6 eventsShow fewer
- Facility left every BDC scheduleDec 31, 2024
Sponsor
No sponsor attribution: no portfolio page, deal announcement or Form D signer consensus names an owner for this borrower group.
Identity
- Group key
- VAXCAREderivedthe codename stem after legal suffixes and deal words
- Spellings
- 2 across 5 BDCsderived
- Industry
- Health Care Technologyreportedas one filer wrote it