DFX Intelligence
Private Credit Intelligence
The capital structure graph behind private markets. Who lent, to whom, under which sponsor, through which facility, how large the piece was, when it matures and what changed, with a filing behind every number. A BDC piece is that BDC's piece, a sum of pieces is a lower bound, and a sponsor is named with the evidence that names it.
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Borrower
S•••••••• H••••••• L••
Health Care Providers & Servicesgroup grade Aon a schedule nowsponsor S••••••• C•••••• P••••••• carried
Also written as: 11; 2023; 23; 24; LLC - Funded; LLC - Unfunded; LLC Acquisition 07; LLC Acquisition 4
Principal held
at least $50.6M
sum of BDC pieces, a lower bound
Fair value
$40.6M
100c on cost, debt pieces
Unfunded
n/a
commitments not yet drawn
BDC lenders
6
5 on the latest quarter
Facilities
3
0 equity pieces beside them
Next maturity
Nov 25, 2026
$50.6M inside 24 months
On the tape since
Sep 30, 2022
latest Jun 30, 2026
Events
7
dated, non-routine
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 $48.3M | 100c | SOFR+500 bp | Mar 1, 2028 | 6 |
| first lien revolver first lien | at least $2.3M | 100c | SOFR+515 bp | Mar 1, 2028 | 2 |
| other lien unstated exited Mar 31, 2024 | at least $9.6M | 102c | S+565 bp | Mar 1, 2028 | 1 |
Lenders
every BDC piece at the latest quarter end
| BDC | Instrument | Principal | Fair value | Rate |
|---|---|---|---|---|
| G•••••• S•••• B••• I••• | term loan first lien 1st Lien/Senior Secured Debt Industry Health Care Providers & Services Interest R••• 8.88% | $168,000 | $167,000 100c | SOFR+500 bp |
| G•••••• S•••• B••• I••• | term loan first lien 1st Lien/Senior Secured Debt Industry Health Care Providers & Services Interest R••• 8.88% | $612,000 | $606,000 100c | SOFR+500 bp |
| G•••••• S•••• B••• I••• | term loan first lien 1st Lien/Senior Secured Debt Industry Health Care Providers & Services Interest R••• 8.88% | $83,000 | $13,000 100c | SOFR+500 bp |
| G•••••• S•••• B••• I••• | term loan first lien 1st Lien/Senior Secured Debt Industry Health Care Providers & Services Interest R••• 8.88% | $4.3M | $1.4M 98c | SOFR+500 bp |
| G•••••• S•••• P•••••• C••••• C•••• | term loan first lien 1st Lien/Senior Secured Debt Industry Health Care Providers & Services Interest R••• 8.88% | $456,000 | $71,000 96c | SOFR+500 bp |
| G•••••• S•••• P•••••• C••••• C•••• | term loan first lien 1st Lien/Senior Secured Debt Industry Health Care Providers & Services Interest R••• 8.88% | $922,000 | $913,000 99c | SOFR+500 bp |
| G•••••• S•••• P•••••• C••••• C•••• | term loan first lien 1st Lien/Senior Secured Debt Industry Health Care Providers & Services Interest R••• 8.88% | $3.4M | $3.3M 99c | SOFR+500 bp |
| G•••••• S•••• P•••••• M••••• M••••• C••••• I• L•• | term loan first lien 1st Lien/Senior Secured Debt Industry Health Care Providers & Services Interest R••• 8.88% | $3.2M | $3.2M 100c | SOFR+500 bp |
| G•••••• S•••• P•••••• M••••• M••••• C••••• I• L•• | term loan first lien 1st Lien/Senior Secured Debt Industry Health Care Providers & Services Interest R••• 8.88% | $1.6M | $251,000 97c | SOFR+500 bp |
| G•••••• S•••• P•••••• M••••• M••••• C••••• I• L•• | term loan first lien 1st Lien/Senior Secured Debt Industry Health Care Providers & Services Interest R••• 8.88% | $11.8M | $11.7M 100c | SOFR+500 bp |
| P••••••••• F••••••• R••• C•••••• L••• | revolver first lien First Lien Secured Debt Revolver Acquisition 3/1/2022 Maturity 3/1/2028 Industry Healthcar | $149,000 | $149,000 100c | SOFR+515 bp |
| P••••••••• F••••••• R••• C•••••• L••• | term loan first lien First Lien Secured Debt Term Loan Acquisition 3/1/2022 Maturity 11/25/2026 Industry Health | $2.1M | $11,000 | 0.00% |
| P••••••••• F••••••• R••• C•••••• L••• | term loan first lien First Lien Secured Debt Acquisition 4/11/2023 Maturity 3/1/2028 Industry Healthcare Techno | $4.0M | $4.0M 101c | SOFR+515 bp |
| P••••••••• F••••••• R••• C•••••• L••• | revolver first lien First Lien Secured Debt Revolver Acquisition 3/1/2022 Maturity 3/1/2028 Industry Healthcar | $743,000 | $0 | 0.00% |
| P••••••••• F••••••• R••• C•••••• L••• | term loan first lien First Lien Secured Debt Acquisition 3/1/2022 Maturity 3/1/2028 Industry Healthcare Technol | $3.7M | $3.7M 100c | SOFR+515 bp |
| P••••••••• I••••••••• C••• | revolver first lien First Lien Secured Debt Revolver Acquisition 02/25/2022 Maturity 03/01/2028 Industry Busin | $234,000 | $234,000 100c | SOFR+515 bp |
| P••••••••• I••••••••• C••• | revolver first lien First Lien Secured Debt Revolver Acquisition 02/25/2022 Maturity 03/01/2028 Industry Busin | $1.2M | $0 | 0.00% |
| P••••••••• I••••••••• C••• | term loan first lien First Lien Secured Debt Acquisition 07/24/23 Maturity 03/01/28 Industry Business Services | $10.9M | $10.9M 101c | SOFR+515 bp |
| P••••••••• I••••••••• C••• | term loan first lien First Lien Secured Debt Term Loan Acquisition 02/25/2022 Maturity 11/25/2026 Industry Busi | $1.1M | $5,000 | 0.00% |
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 | $50.6M | $40.6M | 100c | 0 |
| Mar 31, 2026 | 5 | $49.7M | $39.8M | 100c | 0 |
| Dec 31, 2025 | 5 | $51.2M | $41.0M | 101c | 0 |
| Sep 30, 2025 | 4 | $62.3M | $47.1M | 101c | 0 |
| Jun 30, 2025 | 5 | $45.0M | $38.7M | 101c | 0 |
| Mar 31, 2025 | 5 | $46.2M | $37.3M | 101c | 0 |
| Dec 31, 2024 | 5 | $49.0M | $37.4M | 101c | 0 |
| Sep 30, 2024 | 5 | $81.8M | $70.7M | 101c | 0 |
| Jun 30, 2024 | 5 | $43.4M | $36.7M | 101c | 0 |
| Mar 31, 2024 | 5 | $43.8M | $37.0M | 101c | 0 |
| Dec 31, 2023 | 5 | $72.8M | $54.7M | 99c | 0 |
| Sep 30, 2023 | 5 | $70.0M | $50.7M | 99c | 0 |
| Jun 30, 2023 | 5 | $48.1M | $16.3M | 99c | 0 |
| Mar 31, 2023 | 5 | $29.1M | $16.1M | 97c | 0 |
| Dec 31, 2022 | 3 | $25.6M | $18.8M | 99c | 0 |
| Sep 30, 2022 | 2 | $26.9M | $18.4M | 97c | 0 |
What changed
- Maturity approachingMar 1, 2028
- Maturity approachingMar 1, 2028
- New lender joined a facilityDec 31, 2025
- Spread changed (observed)Dec 31, 2024
- Lender left a facilityMar 31, 2024
- Facility left every BDC scheduleMar 31, 2024
- Mark recoveredMar 31, 2024
- Mark recoveredMar 31, 2023
- New lender joined a facilityDec 31, 2022
- New lender joined a facilityDec 31, 2022
- New borrower on a BDC scheduleSep 30, 2022
Sponsor
- S••••••• C•••••• P•••••••
- the sponsor's own portfolio page lists a company of this nameestimatedsheridancp.com"portfolio card on https://sheridancp.com/portfolio/: Case Study"
Identity
- Group key
- SPENDMENDderivedthe codename stem after legal suffixes and deal words
- Spellings
- 2 across 6 BDCsderived
- Industry
- Health Care Providers & Servicesreportedas one filer wrote it