DFX Intelligence
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Borrower
B•••••• H••••• S•••••••• I••
H••••• Care Providers & Servicesgroup grade Aon a schedule nowsponsor unattributed
Also written as: Bay Mark H••••• Services, Inc
What matters now
- 93¢ → 94¢consensus mark
Consensus mark 94¢ on cost, up from 93¢ a year ago, 83¢ last quarter.
Q2 2026 · The lenders' own valuations moved back up.
Derived4 of 5 lenders' own marks, weighted by principal - $42Mprincipal outstanding
$42M principal held by 5 lenders; matures Jun 2027.
Q2 2026 · Refinancing is due in 9 months at a 94¢ mark.
FactBDC schedules of investments, 30 Jun 2026; a sum of the BDCs' pieces, a lower bound - 55¢ → 91¢+36 pts, one lender
S••••• P•••• S•••••••• L•••••• F••• marked it 55¢ → 91¢, the largest move among 5 lenders this quarter.
Q2 2026 · One holder repriced far more than the rest.
Mark path, consensus per quarter end
93¢ · 87¢ · 56¢ · 83¢ · 94¢Q2 2025 to Q2 2026
Where each lender marks it, 5 points apart
91¢96¢
Principal held
at least $42.0M
sum of BDC pieces, a lower bound
Fair value
$36.4M
78c on cost, debt pieces
Unfunded
Not disclosed
commitments not yet drawn
BDC lenders
6
5 on the latest quarter
Facilities
5
0 equity pieces beside them
Next maturity
Jun 11, 2027
$42.0M inside 24 months
On the tape since
Dec 31, 2021
latest Jun 30, 2026
Events
25
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 |
|---|---|---|---|
| S•• P•••••• C••••• I••••• B•• L•• | $15.5M | 95¢ | 0 pts |
| S••••• P•••• S•••••••• L•••••• F••• | $12.6M | 91¢ | +36 pts |
| S•• I••••••••• C•••• | $8.18M | 96¢ | 0 pts |
| S•• H• B•• L•• | $3.98M | 95¢ | 0 pts |
| H•••••• P••• C•••••••• I•••••• I••• | $1.68M | 1¢ as filed, not counted | no comparable mark |
Every BDC piece · 10 positions across 5 lenderslargest principal first, with instrument and rate
| BDC | Instrument | Principal | Fair value | Rate |
|---|---|---|---|---|
| S•• P•••••• C••••• I••••• B•• L•• | term loan first lien I••••••• H••••• C••• P•••••••• & Services S••••• above I•••• S+500 F•••• 1.00% I••••••• R• | $15.5M | $14.8M 95c | SOFR+500 bp |
| S•• I••••••••• C•••• | term loan first lien | F•••• L••• B••• D•••/S••••• S•••••• L•••• | 4/2022 | 6/2027 | $8.2M | $7.8M 96c | SOFR+500 bp |
| S••••• P•••• S•••••••• L•••••• F••• | term loan first lien 1st L•••/S•••••• L•••• I••••••••• 1st L••• T••• L••• I••••••• H••••••••• P•••••••• & Servi | $4.1M | $3.7M 91c | SOFR+526 bp |
| S•• H• B•• L•• | term loan first lien B••• D•••/S••••• S•••••• L•••• | 6/2021 | 6/2027 | $4.0M | $3.8M 95c | SOFR+500 bp |
| S••••• P•••• S•••••••• L•••••• F••• | term loan second lien 2nd L•••/S•••••• L•••• I••••••••• 2nd L••• T••• L••• I••••••• H••••••••• P•••••••• & Servi | $3.3M | $115,000 3c | SOFR+1076 bp |
View all 10 positionsShow fewerlargest principal first
| BDC | Instrument | Principal | Fair value | Rate |
|---|---|---|---|---|
| S••••• P•••• S•••••••• L•••••• F••• | delayed draw term loan first lien 1st L•••/S•••••• L•••• I••••••••• 1st L••• D•••••• D••• T••• L••• I••••••• H••••••••• P••• | $2.6M | $2.3M 91c | SOFR+526 bp |
| S••••• P•••• S•••••••• L•••••• F••• | delayed draw term loan second lien 2nd L•••/S•••••• L•••• I••••••••• 2nd L••• D•••••• D••• T••• L••• I••••••• H••••••••• P••• | $2.6M | $88,744 3c | SOFR+1076 bp |
| H•••••• P••• C•••••••• I•••••• I••• | term loan second lien S••••• L••• D••• I••••••• O••••••••• M••••• H••••• and S•••••••• A•••• C•••••• IR 14.49% S | $1.3M | $7,550 1c | SOFR+1050 bp |
| H•••••• P••• C•••••••• I•••••• I••• | term loan second lien S••••• L••• D••• I••••••• O••••••••• M••••• H••••• and S•••••••• A•••• C•••••• IR 14.49% S | $357,657 | $2,037 1c | SOFR+1050 bp |
| S•• I••••••••• C•••• | unstated lien unstated 6/2027 | Not disclosed | $3.8M 95c | SOFR+500 bp |
Capital structure as the BDCs see it
latest quarter end Jun 30, 2026
| Facility | Held | On cost | Pricing | Maturity | BDCs |
|---|---|---|---|---|---|
| first lien term loan first lien | at least $31.8M | 95c | SOFR+500 bp | Jun 30, 2027 | 4 |
| second lien term loan second lien | at least $5.0M | 3c | SOFR+1050 bp | Jun 11, 2028 | 2 |
| first lien delayed draw term loan first lien | at least $2.6M | 91c | SOFR+526 bp | Jun 11, 2027 | 1 |
| second lien delayed draw term loan second lien | at least $2.6M | 3c | SOFR+1076 bp | Jun 11, 2028 | 1 |
| other lien unstated | unknown | 95c | SOFR+500 bp | Jun 30, 2027 | 1 |
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 | $42.0M | $32.6M | 78c | 0 |
| Mar 31, 2026 | 6 | $51.0M | $33.3M | 66c | 0 |
| Dec 31, 2025 | 6 | $63.3M | $35.4M | 56c | 0 |
| Sep 30, 2025 | 6 | $50.8M | $43.8M | 87c | 0 |
All 17 quartersShow fewer
| Quarter end | BDCs | Principal held | Fair value | On cost | PIK pieces |
|---|---|---|---|---|---|
| Jun 30, 2025 | 6 | $50.8M | $46.8M | 93c | 0 |
| Mar 31, 2025 | 6 | $48.3M | $46.1M | 96c | 0 |
| Dec 31, 2024 | 6 | $96.1M | $93.4M | 98c | 0 |
| Sep 30, 2024 | 6 | $51.1M | $49.3M | 97c | 0 |
| Jun 30, 2024 | 6 | $47.8M | $46.8M | 99c | 0 |
| Mar 31, 2024 | 6 | $51.3M | $50.3M | 99c | 0 |
| Dec 31, 2023 | 6 | $67.7M | $67.3M | 101c | 0 |
| Sep 30, 2023 | 5 | $38.7M | $38.6M | 101c | 0 |
| Jun 30, 2023 | 2 | $10.6M | $10.5M | 99c | 0 |
| Mar 31, 2023 | 2 | $10.6M | $10.5M | 100c | 0 |
| Dec 31, 2022 | 6 | $93.5M | $87.7M | 101c | 0 |
| Sep 30, 2022 | 1 | $8.2M | $8.2M | 101c | 0 |
| Dec 31, 2021 | 1 | $9.9M | $10.5M | 110c | 0 |
What changed
- Maturity approachingJun 11, 2028
- Maturity approachingJun 11, 2028
- Maturity approachingJun 30, 2027
- Maturity approachingJun 30, 2027
- Maturity approachingJun 11, 2027
Full timeline · 30 eventsShow fewer
- Marked down across lendersJun 30, 2026
- Marked down (one lender)Jun 30, 2026
- Marked down (one lender)Jun 30, 2026
- Marked down across lendersMar 31, 2026
- Lender left a facilityMar 31, 2026
- Mark recoveredMar 31, 2026
- Spread changed (observed)Mar 31, 2026
- Marked down across lendersMar 31, 2026
- Spread increasedMar 31, 2026
- Spread increasedMar 31, 2026
- Marked down (one lender)Mar 31, 2026
- Marked down (one lender)Mar 31, 2026
- Marked down across lendersDec 31, 2025
- Spread changed (observed)Dec 31, 2025
- Marked down across lendersDec 31, 2025
- Marked down (one lender)Dec 31, 2025
- Marked down (one lender)Dec 31, 2025
- Spread increasedDec 31, 2025
- Spread increasedDec 31, 2025
- Marked down (one lender)Dec 31, 2025
- Marked down (one lender)Dec 31, 2025
- Marked down across lendersSep 30, 2025
- Marked down across lendersSep 30, 2025
- Marked down (one lender)Sep 30, 2025
- Marked down (one lender)Sep 30, 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
- B•••••• H••••• S•••••••derivedthe codename stem after legal suffixes and deal words
- Spellings
- 2 across 6 BDCsderived
- Industry
- H••••• Care Providers & Servicesreportedas one filer wrote it