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.
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Borrower
W•••••• D•••••
Also written as: W•••••• D••••• Holdings, LLC
Principal held
at least $2.1M
sum of BDC pieces, a lower bound
Fair value
$3.5M
100c on cost, debt pieces
Unfunded
n/a
commitments not yet drawn
BDC lenders
3
3 on the latest quarter
Facilities
3
1 equity pieces beside them
Next maturity
Jan 30, 2032
no dated debt inside 24 months
On the tape since
Dec 31, 2022
latest Jun 30, 2026
Events
15
dated, non-routine
Capital structure as the BDCs see it
latest quarter end Jun 30, 2026
| Facility | Held | On cost | Pricing | Maturity | BDCs |
|---|---|---|---|---|---|
| other lien unstated | at least $2.1M | 100c | PIK 15.00% | Apr 28, 2032 | 1 |
| first lien delayed draw term loan first lien | unknown | n/a | SOFR+250 bp | Jan 30, 2032 | 1 |
| first lien term loan first lien exited Sep 30, 2025 | at least $631,108 | 38c | SOFR+650 bp PIK 6.25% | Aug 18, 2028 | 1 |
Equity pieces beside the debt: equity ($100,000 fair value, 2 BDCs)
Lenders
every BDC piece at the latest quarter end
| BDC | Instrument | Principal | Fair value | Rate |
|---|---|---|---|---|
| A•••• C••••• B•• I••• | delayed draw term loan first lien Investment Type 1st Lien DDTL Index S+ Spread 2.50% Interest Rate 6.23% Maturity 1/30/2032 | n/a | n/a | SOFR+250 bp |
| A•••• C••••• B•• I••• | equity equity Investment Type Common Units Acquisition Date 4/28/2026 | n/a | $0 | |
| F••••••• B•• C•••••• C••• | unstated lien unstated | n/a | $1.3M 100c | |
| F••••••• B•• C•••••• C••• | unstated lien unstated | $2.1M | $2.1M 100c | PIK 15.00% |
| S••••• C•••• C•••••• C••• | equity equity Equity | $2,000 | $100,000 100c |
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 | 3 | $2.1M | $2.1M | 100c | 1 |
| Dec 31, 2025 | 1 | $0 | $0 | n/a | 0 |
| Sep 30, 2025 | 1 | $631,108 | $200,460 | 38c | 1 |
| Jun 30, 2025 | 1 | $622,645 | $357,722 | 69c | 1 |
| Mar 31, 2025 | 1 | $614,639 | $353,835 | 70c | 0 |
| Dec 31, 2024 | 1 | $1.2M | $751,378 | 75c | 0 |
| Sep 30, 2024 | 1 | $599,009 | $422,081 | 86c | 1 |
| Jun 30, 2024 | 1 | $591,126 | $585,770 | 121c | 1 |
| Mar 31, 2024 | 1 | $491,250 | $388,496 | 80c | 0 |
| Dec 31, 2023 | 1 | $985,000 | $784,128 | 81c | 0 |
| Sep 30, 2023 | 1 | $493,750 | $407,035 | 84c | 0 |
| Jun 30, 2023 | 1 | $495,000 | $430,034 | 88c | 0 |
| Dec 31, 2022 | 1 | $497,500 | $485,063 | 99c | 0 |
What changed
- Spread changed (observed)Sep 30, 2025
- Marked down across lendersSep 30, 2025
- Facility left every BDC scheduleSep 30, 2025
- Marked down (one lender)Sep 30, 2025
- Spread changed (observed)Jun 30, 2025
- PIK interest appearsJun 30, 2025
- PIK interest appearsJun 30, 2025
- Spread changed (observed)Mar 31, 2025
- Marked down across lendersMar 31, 2025
- Marked down (one lender)Mar 31, 2025
- Spread changed (observed)Dec 31, 2024
- Marked down across lendersDec 31, 2024
- Marked down (one lender)Dec 31, 2024
- Marked down across lendersSep 30, 2024
- Spread changed (observed)Sep 30, 2024
- Marked down (one lender)Sep 30, 2024
- Mark recoveredJun 30, 2024
- PIK interest appearsJun 30, 2024
- Spread changed (observed)Jun 30, 2024
- Spread increasedJun 30, 2024
- PIK interest appearsJun 30, 2024
- Marked down across lendersJun 30, 2023
- Marked down (one lender)Jun 30, 2023
Sponsor
- C•••• S••••• C••••••
- the sponsor's own portfolio page lists a company of this nameestimatedcourtsquare.com"portfolio card on https://www.courtsquare.com/portfolio/: Healthcare | W•••••• D•••••"
Identity
- Group key
- W•••••• D•••••derivedthe codename stem after legal suffixes and deal words
- Spellings
- 2 across 3 BDCsderived
- Industry
- Health Care Providers & Servicesreportedas one filer wrote it