DFX Intelligence
Private Credit Intelligence
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Borrower
M•••••• B••••••••• T••••••• L••
Health Care Providers & Servicesgroup grade Aon a schedule nowsponsor unattributed
Also written as: BI Investors; Convertible Promissory
Principal held
at least $25.9M
sum of BDC pieces, a lower bound
Fair value
$26.8M
101c on cost, debt pieces
Unfunded
$433,000
commitments not yet drawn
BDC lenders
3
3 on the latest quarter
Facilities
7
1 equity pieces beside them
Next maturity
Jun 6, 2030
no dated debt inside 24 months
On the tape since
Jun 30, 2024
latest Jun 30, 2026
Events
4
dated, non-routine
Capital structure as the BDCs see it
latest quarter end Jun 30, 2026
| Facility | Held | On cost | Pricing | Maturity | BDCs |
|---|---|---|---|---|---|
| term loan lien unstated | at least $11.8M | 101c | //stelluscapital.com/20260630#One Month Term Secured Overnight Financing Rate+500 bp | Jun 6, 2030 | 2 |
| first lien term loan first lien | at least $9.0M | 101c | SOFR+500 bp | Jun 6, 2030 | 1 |
| delayed draw term loan lien unstated | at least $1.6M | 101c | //stelluscapital.com/20260630#One Month Term Secured Overnight Financing Rate+500 bp | Jun 6, 2030 | 2 |
| first lien delayed draw term loan first lien | at least $1.4M | 100c | SOFR+500 bp | Jun 6, 2030 | 1 |
| revolver lien unstated | at least $1.1M | 100c | SOFR+500 bp | Jun 6, 2030 | 2 |
| first lien revolver first lien | at least $947,000 | 101c | SOFR+500 bp | Jun 6, 2030 | 1 |
| notes lien unstated | at least $53,036 | n/a | 15.00% PIK 15.00% | Jun 6, 2031 | 2 |
Equity pieces beside the debt: equity ($992,594 fair value, 2 BDCs)
Lenders
every BDC piece at the latest quarter end
| BDC | Instrument | Principal | Fair value | Rate |
|---|---|---|---|---|
| F•••• E•••• P•••••• C••••• F••• | delayed draw term loan first lien F•••• Lien Debt Delayed Draw) Region United States Reference Rate and Spread S + 5.00% Int | $1.4M | $1.4M 100c | SOFR+500 bp |
| F•••• E•••• P•••••• C••••• F••• | delayed draw term loan first lien Commitment Type Delayed Draw Commitment Expiration Date 3/31/2027 | n/a | n/a | |
| F•••• E•••• P•••••• C••••• F••• | revolver first lien Commitment Type Revolver Commitment Expiration Date 6/6/2030 | n/a | n/a | |
| F•••• E•••• P•••••• C••••• F••• | term loan first lien F•••• Lien Debt Reference Rate and Spread S + 5.00% Interest Rate Floor 1.00% Interest Rat | $9.0M | $9.0M 101c | SOFR+500 bp |
| F•••• E•••• P•••••• C••••• F••• | revolver first lien F•••• Lien Debt Revolver) Region United States Reference Rate and Spread S + 5.00% Interes | $947,000 | $942,000 101c | SOFR+500 bp |
| S•••••• C•••••• I••••••••• C••• | revolver lien unstated Revolver | $614,310 | $614,310 100c | //stelluscapital.com/20260630#One Month Term Secured Overnight Financing Rate+500 bp |
| S•••••• C•••••• I••••••••• C••• | equity equity Class A Units | n/a | $558,374 130c | |
| S•••••• C•••••• I••••••••• C••• | delayed draw term loan lien unstated Delayed Draw Term Loan | $899,333 | $899,333 101c | //stelluscapital.com/20260630#One Month Term Secured Overnight Financing Rate+500 bp |
| S•••••• C•••••• I••••••••• C••• | notes lien unstated Note | $29,835 | $29,835 100c | 15.00% PIK 15.00% |
| S•••••• C•••••• I••••••••• C••• | term loan lien unstated Term Loan (SBIC I) | $6.6M | $6.6M 101c | //stelluscapital.com/20260630#One Month Term Secured Overnight Financing Rate+500 bp |
| S•••••• P•••••• C••••• B•• | delayed draw term loan lien unstated Delayed Draw Term Loan | $699,481 | $699,481 101c | SOFR+500 bp |
| S•••••• P•••••• C••••• B•• | term loan lien unstated Term Loan (PBDC SPV) | $2.0M | $2.0M 101c | SOFR+500 bp |
| S•••••• P•••••• C••••• B•• | notes lien unstated Note | $23,201 | $23,201 100c | 15.00% PIK 15.00% |
| S•••••• P•••••• C••••• B•• | equity equity Class A Units | n/a | $434,220 130c | |
| S•••••• P•••••• C••••• B•• | revolver lien unstated Revolver | $477,797 | $477,797 100c | SOFR+500 bp |
| S•••••• P•••••• C••••• B•• | term loan lien unstated Term Loan | $3.1M | $3.1M 101c | SOFR+500 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 | 3 | $25.9M | $25.8M | 101c | 2 |
| Mar 31, 2026 | 3 | $19.2M | $25.7M | 101c | 0 |
| Dec 31, 2025 | 3 | $32.6M | $32.4M | 101c | 0 |
| Sep 30, 2025 | 3 | $25.5M | $25.4M | 101c | 0 |
| Jun 30, 2025 | 3 | $24.7M | $24.6M | 101c | 0 |
| Mar 31, 2025 | 3 | $24.4M | $24.2M | 101c | 0 |
| Dec 31, 2024 | 3 | $51.4M | $50.9M | 101c | 0 |
| Sep 30, 2024 | 3 | $21.9M | $21.5M | 100c | 0 |
| Jun 30, 2024 | 3 | $14.4M | $20.8M | 100c | 0 |
What changed
- Marked down (one lender)Mar 31, 2025
- New lender joined a facilityDec 31, 2024
- Mark recoveredDec 31, 2024
- Spread changed (observed)Sep 30, 2024
- Spread changed (observed)Sep 30, 2024
- Spread increasedSep 30, 2024
- Spread increasedSep 30, 2024
- New borrower on a BDC scheduleJun 30, 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
- MONARCH BEHAVIORAL THERAPYderivedthe codename stem after legal suffixes and deal words
- Spellings
- 1 across 3 BDCsderived
- Industry
- Health Care Providers & Servicesreportedas one filer wrote it