DFX Intelligence
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Borrower
S• W••••••• H•••••••• I••
Healthcare Providers and Servicesgroup grade Aoff every schedule since Mar 31, 2025sponsor unattributed
Also written as: Inc. Asset Type; SM Holdco, Inc
Nothing material in the last 200 days. Last change: 31 Mar 2025, Consensus mark 102¢ on cost, up from 97¢ a year ago, 101¢ last quarter.
Mark path, consensus per quarter end
97¢ · 99¢ · 102¢ · 101¢ · 102¢Q1 2024 to Q1 2025
Principal held
at least $25.4M
sum of BDC pieces, a lower bound
Fair value
$38.9M
102c on cost, debt pieces
Unfunded
$3.8M
commitments not yet drawn
BDC lenders
6
5 on the latest quarter
Facilities
3
1 equity pieces beside them
Next maturity
Apr 17, 2028
no dated debt inside 24 months
On the tape since
Dec 31, 2021
latest Mar 31, 2025
Events
6
dated, non-routine
Lender marks
each lender's own fair value over cost at Mar 31, 2025, folded to one row per lender
| Lender | Exposure | Current mark | QoQ change |
|---|---|---|---|
| N••••• C•••••••• D••••• L•••••• C•••• | $13M | 100¢ | 0 pts |
| O•••••• S•••••••• L•••••• C••• | $12M | 104¢ | -1 pts |
| A•••••• S•••••••• C••••• F••• | $221K | 100¢ | 0 pts |
| A•••••• P•••••• C••••• F••• | $199K | 100¢ | 0 pts |
| A••• C•••••• C••• | no principal filed | no cost filed | no comparable mark |
Every BDC piece · 8 positions across 5 lenderslargest principal first, with instrument and rate
| BDC | Instrument | Principal | Fair value | Rate |
|---|---|---|---|---|
| N••••• C•••••••• D••••• L•••••• C•••• | term loan first lien | $13.0M | $12.9M 100c | S+450 bp |
| O•••••• S•••••••• L•••••• C••• | term loan second lien S••••• L••• T••• L••• | $12.0M | $11.9M 104c | S+800 bp |
| A•••••• S•••••••• C••••• F••• | term loan first lien Asset T••• F•••• L••• T••• L••• R•••••••• R••• and S••••• S + 4.50% I••••••• R••• 9.05% M• | $221,000 | $221,000 100c | SOFR+450 bp |
| A•••••• P•••••• C••••• F••• | term loan first lien Asset T••• F•••• L••• T••• L••• R•••••••• R••• and S••••• S + 4.50% I••••••• R••• 9.05% M• | $199,000 | $199,000 100c | SOFR+450 bp |
| A••• C•••••• C••• | equity equity Series B units | Not disclosed | $0 |
View all 8 positionsShow fewerlargest principal first
| BDC | Instrument | Principal | Fair value | Rate |
|---|---|---|---|---|
| A••• C•••••• C••• | unstated lien unstated | Not disclosed | Not disclosed | |
| A••• C•••••• C••• | equity equity Series D units | Not disclosed | $1.8M 138c | 8.00% |
| A••• C•••••• C••• | equity equity Series A units | Not disclosed | $11.9M 149c |
Capital structure as the BDCs see it
latest quarter end Mar 31, 2025
| Facility | Held | On cost | Pricing | Maturity | BDCs |
|---|---|---|---|---|---|
| first lien term loan first lien exited Mar 31, 2025 | at least $13.4M | 100c | SOFR+450 bp | Apr 17, 2028 | 3 |
| second lien term loan second lien exited Mar 31, 2025 | at least $12.0M | 104c | S+800 bp | Apr 16, 2029 | 1 |
| other lien unstated exited Mar 31, 2025 | unknown | n/a | unstated | 1 |
Equity pieces beside the debt: equity ($13.7M fair value, 1 BDC)
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, 2025 | 5 | $25.4M | $25.2M | 102c | 0 |
| Dec 31, 2024 | 5 | $38.5M | $38.2M | 101c | 0 |
| Sep 30, 2024 | 4 | $34.5M | $33.5M | 103c | 0 |
| Jun 30, 2024 | 5 | $49.2M | $47.3M | 101c | 0 |
All 12 quartersShow fewer
| Quarter end | BDCs | Principal held | Fair value | On cost | PIK pieces |
|---|---|---|---|---|---|
| Mar 31, 2024 | 5 | $45.6M | $42.9M | 99c | 0 |
| Dec 31, 2023 | 4 | $43.9M | $41.1M | 99c | 0 |
| Sep 30, 2023 | 4 | $44.0M | $40.2M | 96c | 0 |
| Jun 30, 2023 | 4 | $44.1M | $39.4M | 95c | 0 |
| Mar 31, 2023 | 4 | $44.2M | $37.8M | 91c | 0 |
| Dec 31, 2022 | 3 | $27.3M | $23.6M | 89c | 0 |
| Sep 30, 2022 | 3 | $24.6M | $22.7M | 94c | 0 |
| Dec 31, 2021 | 1 | $0 | $0 | n/a | 0 |
What changed
- Facility left every BDC scheduleMar 31, 2025
- Facility left every BDC scheduleMar 31, 2025
- Facility left every BDC scheduleMar 31, 2025
- New lender joined a facilityDec 31, 2024
- Mark recoveredSep 30, 2024
Full timeline · 9 eventsShow fewer
- Mark recoveredJun 30, 2023
- Marked down across lendersDec 31, 2022
- New lender joined a facilityDec 31, 2022
- Marked down (one lender)Dec 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
- SM WELLNESSderivedthe codename stem after legal suffixes and deal words
- Spellings
- 1 across 6 BDCsderived
- Industry
- Healthcare Providers and Servicesreportedas one filer wrote it