DFX Intelligence
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Borrower
T•••••• B••••• H••••••• L••
Healthcare & Pharmaceuticalsgroup grade Aon a schedule nowsponsor unattributed
Also written as: Second Lien; T•••••• B•••••
Principal held
at least $49.3M
sum of BDC pieces, a lower bound
Fair value
$42.2M
86c on cost, debt pieces
Unfunded
Not disclosed
commitments not yet drawn
BDC lenders
9
5 on the latest quarter
Facilities
5
0 equity pieces beside them
Next maturity
May 1, 2028
$8.2M inside 24 months
On the tape since
Dec 31, 2021
latest Jun 30, 2026
Events
12
dated, non-routine
Capital structure as the BDCs see it
latest quarter end Jun 30, 2026
| Facility | Held | On cost | Pricing | Maturity | BDCs |
|---|---|---|---|---|---|
| second lien term loan second lien | at least $41.1M | 84c | S+675 bp | May 1, 2029 | 4 |
| other lien unstated | at least $5.9M | 94c | S+400 bp | May 18, 2028 | 5 |
| first lien term loan first lien | at least $2.3M | 102c | SOFR+400 bp | May 18, 2028 | 3 |
| first lien delayed draw term loan first lien exited Dec 31, 2021 | unknown | n/a | unstated | 2 | |
| second lien delayed draw term loan second lien exited Dec 31, 2021 | unknown | n/a | unstated | 2 |
Lenders
every BDC piece at the latest quarter end, largest principal first
| BDC | Instrument | Principal | Fair value | Rate |
|---|---|---|---|---|
| A••• C•••••• C••• | term loan second lien S••••• lien senior secured loan | $29.1M | $22.4M 77c | S+675 bp |
| N•• M••••••• P•••••• C••••• F••• | term loan second lien S••••• L••• | N••••••••• I••••• | $6.0M | $6.0M 100c | S+675 bp |
| N•• S•• I• I••• | term loan second lien S••••• L••• | N••••••••• I••••• | $6.0M | $6.0M 100c | S+675 bp |
| F••••••• B•• C•••••• C••• | unstated lien unstated | $5.9M | $5.5M 94c | S+400 bp |
| A•••• C••••• B•• I••• | term loan first lien Investment T••• 1st L••• T••• L••• I•••• S+ S••••• 4.00% I••••••• R••• 7.73% A••••••••• D• | $1.8M | $1.7M 97c | SOFR+400 bp |
View all 6 positions across 5 lendersShow fewerlargest principal first
| BDC | Instrument | Principal | Fair value | Rate |
|---|---|---|---|---|
| N•• M••••••• P•••••• C••••• F••• | term loan first lien F•••• L••• | N••••••••• I••••• | $481,000 | $481,000 125c | S+400 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 | 5 | $49.3M | $42.2M | 86c | 0 |
| Mar 31, 2026 | 5 | $55.9M | $46.3M | 83c | 0 |
| Dec 31, 2025 | 5 | $69.0M | $55.4M | 81c | 0 |
| Sep 30, 2025 | 5 | $56.0M | $43.9M | 79c | 0 |
All 17 quartersShow fewer
| Quarter end | BDCs | Principal held | Fair value | On cost | PIK pieces |
|---|---|---|---|---|---|
| Jun 30, 2025 | 5 | $56.0M | $43.5M | 78c | 0 |
| Mar 31, 2025 | 5 | $55.5M | $46.2M | 83c | 0 |
| Dec 31, 2024 | 5 | $101M | $82.6M | 82c | 0 |
| Sep 30, 2024 | 5 | $55.6M | $50.7M | 92c | 0 |
| Jun 30, 2024 | 5 | $55.6M | $52.0M | 94c | 0 |
| Mar 31, 2024 | 5 | $55.6M | $53.8M | 97c | 0 |
| Dec 31, 2023 | 6 | $60.5M | $57.7M | 96c | 0 |
| Sep 30, 2023 | 6 | $55.6M | $53.2M | 96c | 0 |
| Jun 30, 2023 | 6 | $55.7M | $53.3M | 96c | 0 |
| Mar 31, 2023 | 5 | $53.8M | $52.1M | 97c | 0 |
| Dec 31, 2022 | 6 | $65.6M | $63.7M | 98c | 0 |
| Sep 30, 2022 | 1 | $20.5M | $19.4M | 96c | 0 |
| Dec 31, 2021 | 4 | $36.4M | $36.4M | 101c | 0 |
What changed
- Maturity approachingMay 18, 2028
- Maturity approachingMay 18, 2028
- Maturity shortened (observed)Jun 30, 2026
- Mark recoveredSep 30, 2025
- Marked down across lendersJun 30, 2025
Full timeline · 30 eventsShow fewer
- Lender left a facilityJun 30, 2025
- Marked down (one lender)Jun 30, 2025
- Marked down (one lender)Jun 30, 2025
- Maturity shortened (observed)Jun 30, 2025
- Marked down across lendersMar 31, 2025
- Marked down (one lender)Mar 31, 2025
- Marked down (one lender)Mar 31, 2025
- Marked down across lendersDec 31, 2024
- Spread changed (observed)Dec 31, 2024
- New lender joined a facilityDec 31, 2024
- Marked down (one lender)Dec 31, 2024
- Marked down (one lender)Dec 31, 2024
- Maturity extended (observed)Sep 30, 2024
- Spread changed (observed)Sep 30, 2024
- New lender joined a facilitySep 30, 2024
- Marked down (one lender)Sep 30, 2024
- Marked down (one lender)Jun 30, 2024
- Marked down (one lender)Jun 30, 2024
- Marked down (one lender)Jun 30, 2024
- Lender left a facilityDec 31, 2022
- Marked down (one lender)Sep 30, 2022
- New borrower on a BDC scheduleDec 31, 2021
- Lender left a facilityDec 31, 2021
- Facility left every BDC scheduleDec 31, 2021
- Facility left every BDC scheduleDec 31, 2021
Sponsor
No sponsor attribution: no portfolio page, deal announcement or Form D signer consensus names an owner for this borrower group.
Identity
- Group key
- THERAPY BRANDSderivedthe codename stem after legal suffixes and deal words
- Spellings
- 2 across 9 BDCsderived
- Industry
- Healthcare & Pharmaceuticalsreportedas one filer wrote it