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Borrower

S•••• B•••••• I••

Healthcare and Pharmaceuticalsgroup grade Aon a schedule nowsponsor not established · possible relationship
Also written as: 2021; 27; Inc. - Funded; Inc. - Unfunded; Inc. Acquisition 1; S•••• B••••• Group Inc
See every lender's markFind rescue capital
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Special situations PE firms

What matters now

  1. 3 of 6 lenders
    on non-accrual

    Non-accrual at 3 of 6 lenders on the latest schedules, first placed in Q1 2026.

    since Q1 2026 · Interest has stopped accruing; the lenders no longer expect to be paid in full.

    FactBDC schedules of investments, 30 Jun 2026For restructuring advisers, special situations funds, the lenders' LPsSee every lender →
  2. 86¢ → 85¢
    consensus mark

    Consensus mark 85¢ on cost, down from 86¢ a year ago, 76¢ last quarter.

    Q2 2026 · The lenders' own valuations, the most direct read of what they expect to recover.

    Derived5 of 6 lenders' own marks, weighted by principal
  3. 17 pts
    79¢ to 96¢

    Lenders disagree by 17 points: B•••••• B••• I••• 79¢ to N••••• C•••••••• D••••• L•••••• C•••• 96¢.

    Q2 2026 · Holders value the same loan differently, so a position could trade between them.

    Derivedeach lender's own fair value over costFor secondary buyers, special situations fundsLender marks →
  4. $47.3M
    principal outstanding

    $47.3M principal held by 6 lenders; matures Oct 2027.

    Q2 2026 · Refinancing is due in 13 months at a 85¢ mark.

    FactBDC schedules of investments, 30 Jun 2026; a sum of the BDCs' pieces, a lower bound
  5. 62¢ → 96¢
    +34 pts, one lender

    N••••• C•••••••• D••••• L•••••• C•••• marked it 62¢ → 96¢, the largest move among 6 lenders this quarter.

    Q2 2026 · One holder repriced far more than the rest.

    FactN••••• C•••••••• D••••• L•••••• C•••• schedule of investmentsOpen the lender →
Mark path, consensus per quarter end
Q2 2025: 86¢Q3 2025: 87¢Q4 2025: 87¢Q1 2026: 76¢Q2 2026: 85¢86¢ · 87¢ · 87¢ · 76¢ · 85¢Q2 2025 to Q2 2026
Where each lender marks it, 17 points apart
79¢Consensus: 85¢P••••••••• F••••••• R••• C•••••• L•••: 80¢N••••• C•••••••• D••••• L•••••• C••••: 96¢A••••• D••• S•••••••• B••: 82¢B•••••• B••• I•••: 79¢A• P•••••• C••••• I•••••••• C•••: 82¢96¢
Principal held
at least $47.3M
sum of BDC pieces, a lower bound
Fair value
$33.8M
83c on cost, debt pieces
Unfunded
Not disclosed
commitments not yet drawn
BDC lenders
7
6 on the latest quarter
Facilities
6
0 equity pieces beside them
Next maturity
Oct 12, 2027
$18.8M inside 24 months
On the tape since
Dec 31, 2021
latest Jun 30, 2026
Events
50
dated, non-routine
Lender marks
each lender's own fair value over cost at Jun 30, 2026, folded to one row per lender
LenderExposureCurrent markQoQ change
P••••••••• F••••••• R••• C•••••• L•••$18.8M80¢-1 pts
N••••• C•••••••• D••••• L•••••• C••••$13M96¢+34 pts
A••••• D••• S•••••••• B••$7.71M82¢0 pts
B•••••• B••• I•••$5.34M79¢-1 pts
A• P•••••• C••••• I•••••••• C•••$2.3M82¢-1 pts
View all 6 lenderslargest exposure first
LenderExposureCurrent markQoQ change
F••••••• B•• C•••••• C•••$67Kno cost filednew this quarter
Every BDC piece · 13 positions across 6 lenderslargest principal first, with instrument and rate
BDCInstrumentPrincipalFair valueRate
N••••• C•••••••• D••••• L•••••• C••••subordinated debt unsecured or subordinated
S••••••••• D•••
$13.0M$7.8M
96c
S+850 bp
PIK 12.29%
P••••••••• F••••••• R••• C•••••• L•••term loan first lien
F•••• L••• S•••••• D••• A••••••••• 1/27/2021 M••••••• 10/12/2027 I••••••• H••••••••• and P
$12.5M$9.8M
79c
SOFR+600 bp
A••••• D••• S•••••••• B••term loan first lien
Investment T••• F•••• L••• S•••••• D••• - T••• L••• I••••••• R••• 9.67% M••••••• D••• 07/1
$7.7M$6.1M
82c
9.67%
B•••••• B••• I•••term loan first lien
F•••• L••• S••••• S•••••• T••• L•••
$5.3M$4.2M
79c
S+600 bp
PIK 1.50%
P••••••••• F••••••• R••• C•••••• L•••term loan first lien
F•••• L••• S•••••• D••• A••••••••• 10/4/2018 M••••••• 10/12/2027 I••••••• H••••••••• and P
$4.7M$3.7M
82c
SOFR+610 bp
PIK 1.50%
View all 13 positionslargest principal first
BDCInstrumentPrincipalFair valueRate
A• P•••••• C••••• I•••••••• C•••term loan first lien
US C•••••••• D••• | 1st L•••/S••••• S•••••• D••• | T••• L••• | 11.15% (S + 4.50%; 0.75% F•
$1.7M$1.3M
82c
SOFR+450 bp
PIK 1.50%
P••••••••• F••••••• R••• C•••••• L•••revolver first lien
F•••• L••• S•••••• D••• R••••••• A••••••••• 10/4/2018 M••••••• 10/12/2027 I••••••• H••••••
$798,000$627,000
79c
SOFR+610 bp
P••••••••• F••••••• R••• C•••••• L•••revolver first lien
F•••• L••• S•••••• D••• R••••••• A••••••••• 10/4/2018 M••••••• 10/12/2027 I••••••• H••••••
$796,000$-170,000S+610 bp
A• P•••••• C••••• I•••••••• C•••delayed draw term loan first lien
US C•••••••• D••• | 1st L•••/S••••• S•••••• D••• | D•••••• D••• T••• L••• | 9.82% (S + 4.5
$505,882$404,705
83c
SOFR+450 bp
PIK 1.50%
A• P•••••• C••••• I•••••••• C•••revolver first lien
US C•••••••• D••• | 1st L•••/S••••• S•••••• D••• | R••••••• | 10.49% (S + 5.00%; 0.75% F••
$127,546$73,775
74c
SOFR+500 bp
PIK 1.50%
P••••••••• F••••••• R••• C•••••• L•••revolver first lien
F•••• L••• S•••••• D••• R••••••• - LC A••••••••• 10/4/2018 M••••••• 10/12/2027 I••••••• H•
$100,000$-21,000S+610 bp
F••••••• B•• C•••••• C•••unstated lien unstated$67,000$0
0c
PIK 14.50%
F••••••• B•• C•••••• C•••unstated lien unstatedNot disclosed$0
Capital structure as the BDCs see it
latest quarter end Jun 30, 2026
FacilityHeldOn costPricingMaturityBDCs
first lien term loan first lienat least $31.9M80cSOFR+450 bp
PIK 1.50%
Jul 12, 20294
unsecured or subordinated subordinated debt unsecured or subordinatedat least $13.0M96cS+850 bp
PIK 12.29%
Jan 12, 20301
first lien revolver first lienat least $1.8M57cSOFR+500 bp
PIK 1.50%
Jul 12, 20292
first lien delayed draw term loan first lienat least $505,88283cSOFR+450 bp
PIK 1.50%
Jul 12, 20291
other lien unstatedat least $67,000n/a
PIK 14.50%
Oct 12, 20283
All 6 facilitiesheld first, largest first
FacilityHeldOn costPricingMaturityBDCs
delayed draw term loan lien unstated
exited Dec 31, 2024
at least $11.4M82cS+952 bp
PIK 14.10%
Apr 12, 20282
Through time
the borrower's pieces summed across BDCs, every quarter end
Quarter endBDCsPrincipal heldFair valueOn costPIK pieces
Jun 30, 20266$47.3M$33.8M83c7
Mar 31, 20266$47.4M$35.5M76c9
Dec 31, 20256$49.4M$42.2M87c8
Sep 30, 20256$52.8M$44.0M87c7
All 17 quarters
Quarter endBDCsPrincipal heldFair valueOn costPIK pieces
Jun 30, 20256$43.5M$36.3M85c8
Mar 31, 20256$42.9M$36.2M86c7
Dec 31, 20246$63.0M$54.9M88c15
Sep 30, 20246$72.9M$63.5M89c16
Jun 30, 20246$41.0M$36.0M90c7
Mar 31, 20246$40.6M$35.5M90c4
Dec 31, 20235$40.3M$34.9M89c2
Sep 30, 20236$44.1M$39.8M91c0
Jun 30, 20235$37.9M$34.9M92c0
Mar 31, 20235$38.0M$35.4M117c0
Dec 31, 20225$28.5M$24.7M93c0
Sep 30, 20222$36.9M$32.6M97c0
Dec 31, 20212$4.6M$4.5M100c0
What changed
Full timeline · 30 events
Every change including routine ones
Identity
Group key
S•••• B•••••derivedthe codename stem after legal suffixes and deal words
Spellings
2 across 7 BDCsderived
Industry
Healthcare and Pharmaceuticalsreportedas one filer wrote it