DFX Intelligence
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Borrower
D••••••• M••••••••• L••
Also written as: D••••••• Holdings, LLC; LLC Fourth Amendment
What matters now
- $61.2Mprincipal outstanding
$61.2M principal held by 3 lenders; matures Apr 2028.
Q2 2026 · Refinancing is due in 19 months at a 101¢ mark.
FactBDC schedules of investments, 30 Jun 2026; a sum of the BDCs' pieces, a lower bound
Mark path, consensus per quarter end
102¢ · 101¢ · 101¢ · 101¢ · 101¢Q2 2025 to Q2 2026
Where each lender marks it, 1 points apart
100¢101¢
Principal held
at least $61.2M
sum of BDC pieces, a lower bound
Fair value
$61.2M
101c on cost, debt pieces
Unfunded
Not disclosed
commitments not yet drawn
BDC lenders
3
3 on the latest quarter
Facilities
6
0 equity pieces beside them
Next maturity
Apr 21, 2028
$60.4M inside 24 months
On the tape since
Dec 31, 2021
latest Jun 30, 2026
Events
7
dated, non-routine
Lender marks
each lender's own fair value over cost at Jun 30, 2026, folded to one row per lender
| Lender | Exposure | Current mark | QoQ change |
|---|---|---|---|
| W••••• T••• C•••••• C••• | $30.9M | 101¢ | 0 pts |
| S•••••••• P•••••• C••••• F••• L•• | $15.8M | 100¢ | 0 pts |
| C••• I••••••••• C••• | $14.5M | 101¢ | 0 pts |
Every BDC piece · 11 positions across 3 lenderslargest principal first, with instrument and rate
| BDC | Instrument | Principal | Fair value | Rate |
|---|---|---|---|---|
| W••••• T••• C•••••• C••• | delayed draw term loan lien unstated D•••••• D••• T••• L••• 2 | N••••••••• I••••• | $15.7M | $15.7M 101c | S+600 bp |
| W••••• T••• C•••••• C••• | delayed draw term loan lien unstated D•••••• D••• T••• L••• 1 | N••••••••• I••••• | $14.5M | $14.5M 100c | S+600 bp |
| C••• I••••••••• C••• | term loan first lien S••••• S•••••• F•••• L••• D••• | $9.0M | $9.0M 101c | S+600 bp |
| S•••••••• P•••••• C••••• F••• L•• | delayed draw term loan first lien D•••••• D••• T••• L••• | N••• D••• Inv. | F•••• L••• S••••• S•••••• L••• | 4/21/2028 | $7.9M | $7.9M 100c | SOFR+600 bp |
| C••• I••••••••• C••• | term loan first lien S••••• S•••••• F•••• L••• D••• | $4.1M | $4.1M 101c | S+600 bp |
View all 11 positionsShow fewerlargest principal first
| BDC | Instrument | Principal | Fair value | Rate |
|---|---|---|---|---|
| S•••••••• P•••••• C••••• F••• L•• | term loan first lien T••• L••• | N••• D••• Inv. | F•••• L••• S••••• S•••••• L••• | 4/21/2028 One | $4.0M | $4.0M 100c | SOFR+600 bp |
| S•••••••• P•••••• C••••• F••• L•• | delayed draw term loan first lien D•••••• D••• T••• L••• | N••• D••• Inv. | F•••• L••• S••••• S•••••• L••• | 4/21/2028 One | $3.2M | $3.2M 100c | SOFR+600 bp |
| C••• I••••••••• C••• | term loan first lien S••••• S•••••• F•••• L••• D••• | $1.3M | $1.3M 100c | S+600 bp |
| W••••• T••• C•••••• C••• | term loan lien unstated T••• L••• | N••••••••• I••••• | $750,000 | $771,000 103c | S+600 bp PIK 17.00% |
| S•••••••• P•••••• C••••• F••• L•• | term loan first lien T••• L••• | N••• D••• Inv. | F•••• L••• S••••• S•••••• L••• | 4/21/2028 | $468,000 | $468,000 100c | SOFR+600 bp |
| S•••••••• P•••••• C••••• F••• L•• | revolver first lien R•••••••• L••• | N••• D••• Inv. | F•••• L••• S••••• S•••••• L••• | 4/21/2028 | $359,000 | $359,000 100c | SOFR+600 bp |
Capital structure as the BDCs see it
latest quarter end Jun 30, 2026
| Facility | Held | On cost | Pricing | Maturity | BDCs |
|---|---|---|---|---|---|
| delayed draw term loan lien unstated | at least $30.1M | 101c | S+600 bp | Apr 21, 2028 | 1 |
| first lien term loan first lien | at least $18.9M | 101c | SOFR+600 bp | Apr 22, 2028 | 2 |
| first lien delayed draw term loan first lien | at least $11.0M | 100c | SOFR+600 bp | Apr 21, 2028 | 1 |
| term loan lien unstated | at least $750,000 | 103c | S+600 bp PIK 17.00% | Oct 16, 2029 | 1 |
| first lien revolver first lien | at least $359,000 | 100c | SOFR+600 bp | Apr 21, 2028 | 1 |
All 6 facilitiesShow fewerheld first, largest first
| Facility | Held | On cost | Pricing | Maturity | BDCs |
|---|---|---|---|---|---|
| other lien unstated exited Dec 31, 2025 | unknown | n/a | unstated | 2 |
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 | $61.2M | $61.2M | 101c | 1 |
| Mar 31, 2026 | 3 | $61.3M | $61.3M | 101c | 1 |
| Dec 31, 2025 | 3 | $115M | $96.7M | 101c | 1 |
| Sep 30, 2025 | 3 | $70.5M | $52.0M | 101c | 1 |
All 17 quartersShow fewer
| Quarter end | BDCs | Principal held | Fair value | On cost | PIK pieces |
|---|---|---|---|---|---|
| Jun 30, 2025 | 3 | $70.6M | $52.2M | 101c | 0 |
| Mar 31, 2025 | 3 | $61.7M | $34.4M | 101c | 0 |
| Dec 31, 2024 | 3 | $78.7M | $66.7M | 101c | 0 |
| Sep 30, 2024 | 2 | $20.7M | $20.0M | 101c | 0 |
| Jun 30, 2024 | 2 | $16.7M | $15.9M | 101c | 0 |
| Mar 31, 2024 | 1 | $14.8M | $14.3M | 101c | 0 |
| Dec 31, 2023 | 1 | $14.8M | $14.1M | 102c | 0 |
| Sep 30, 2023 | 1 | $14.8M | $13.7M | 102c | 0 |
| Jun 30, 2023 | 1 | $14.9M | $13.2M | 102c | 0 |
| Mar 31, 2023 | 1 | $14.9M | $13.1M | 101c | 0 |
| Dec 31, 2022 | 1 | $15.6M | $13.0M | 101c | 0 |
| Sep 30, 2022 | 1 | $15.0M | $10.9M | 102c | 0 |
| Dec 31, 2021 | 1 | $0 | $0 | n/a | 0 |
What changed
- Maturity approachingApr 22, 2028
- Maturity approachingApr 21, 2028
- Maturity approachingApr 21, 2028
- Maturity approachingApr 21, 2028
- Facility left every BDC scheduleDec 31, 2025
Full timeline · 10 eventsShow fewer
- Maturity shortened (observed)Sep 30, 2025
- New lender joined a facilityJun 30, 2025
- Spread changed (observed)Sep 30, 2024
- Spread increasedSep 30, 2024
- New borrower on a BDC scheduleDec 31, 2021
Sponsor
Possible relationship, not established: H•••••• C•••••• M••••••••• L••, because a company of this name is on the sponsor's portfolio page (confidence 0.55). No deal announcement or filing names it as a party, so it is not shown as this borrower’s sponsor.
- H•••••• C•••••• M••••••••• L••
- the sponsor's own portfolio page lists a company of this nameestimatedhildred.com"••• Locked"
Identity
- Group key
- DERMCAREderivedthe codename stem after legal suffixes and deal words
- Spellings
- 2 across 3 BDCsderived
- Industry
- Health Care Servicesreportedas one filer wrote it