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
Solvias AG
Pharmaceuticalsgroup grade Aon a schedule nowsponsor unattributed
Also written as: Solvias AG - Holdco
Principal held
at least $149M
sum of BDC pieces, a lower bound
Fair value
$181M
112c on cost, debt pieces
Unfunded
n/a
commitments not yet drawn
BDC lenders
2
2 on the latest quarter
Facilities
4
0 equity pieces beside them
Next maturity
Feb 27, 2030
no dated debt inside 24 months
On the tape since
Mar 31, 2025
latest Jun 30, 2026
Events
3
dated, non-routine
Capital structure as the BDCs see it
latest quarter end Jun 30, 2026
| Facility | Held | On cost | Pricing | Maturity | BDCs |
|---|---|---|---|---|---|
| revolver lien unstated | at least $130M | 111c | //msdinvestmentcorp.com/20260630#Swiss Average Rate Overnight+550 bp | Feb 27, 2032 | 1 |
| first lien term loan first lien | at least $19.0M | 115c | //www.crescentcap.com/20260630#Saron+550 bp | Feb 29, 2032 | 1 |
| first lien revolver first lien | at least $0 | n/a | Feb 29, 2032 | 1 | |
| other lien unstated exited Mar 31, 2025 | at least $132M | 102c | //msdinvestmentcorp.com/20250331#Swiss Average Rate Overnight+550 bp | Feb 27, 2032 | 1 |
Lenders
every BDC piece at the latest quarter end
| BDC | Instrument | Principal | Fair value | Rate |
|---|---|---|---|---|
| Crescent Capital BDC, Inc. | revolver first lien Investment Type Senior Secured First Lien Revolver Maturity/ Dissolution Date 02/2032 | $0 | n/a n/a | |
| Crescent Capital BDC, Inc. | term loan first lien Investment Type Senior Secured First Lien Term Loan Interest Term S + 550, 75 Floor Intere | $19.0M | $23.8M 115c | //www.crescentcap.com/20260630#Saron+550 bp |
| MSD Investment Corp. | revolver lien unstated Revolver Commitment Expiration Date 2/27/2030 | n/a | n/a | |
| MSD Investment Corp. | revolver lien unstated Revolving Credit Facility Reference Rate and Spread SA + 5.50% Interest Rate Floor 0.75% I | n/a | $-408,000 116c | //msdinvestmentcorp.com/20260630#Swiss Average Rate Overnight+550 bp |
| MSD Investment Corp. | revolver lien unstated Revolver Commitment Expiration Date 2/27/2030 | n/a | n/a | |
| MSD Investment Corp. | revolver lien unstated Reference Rate and Spread SA + 5.50% Interest Rate Floor 0.75% Interest Rate 6.25% Maturit | $130M | $158M 111c | //msdinvestmentcorp.com/20260630#Swiss Average Rate Overnight+550 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 | 2 | $149M | $181M | 112c | 0 |
| Mar 31, 2026 | 2 | $150M | $184M | 113c | 0 |
| Dec 31, 2025 | 2 | $203M | $234M | 115c | 0 |
| Sep 30, 2025 | 2 | $155M | $185M | 114c | 0 |
| Jun 30, 2025 | 2 | $156M | $186M | 114c | 0 |
| Mar 31, 2025 | 2 | $154M | $166M | 102c | 0 |
What changed
- Maturity extended (observed)Jun 30, 2025
- Maturity extended (observed)Jun 30, 2025
- New borrower on a BDC scheduleMar 31, 2025
- Facility left every BDC scheduleMar 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
- SOLVIAS #DEderivedthe codename stem after legal suffixes and deal words
- Spellings
- 1 across 2 BDCsderived
- Industry
- Pharmaceuticalsreportedas one filer wrote it