DFX Intelligence
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Borrower
A••••••• A•••••• H•••••••• L••
Health Care Providers & Servicesgroup grade Aon a schedule nowsponsor unattributed
Also written as: A••••••• A•••••• H•••••••.1
Principal held
at least $92.0M
sum of BDC pieces, a lower bound
Fair value
$88.9M
97c on cost, debt pieces
Unfunded
$160,000
commitments not yet drawn
BDC lenders
5
4 on the latest quarter
Facilities
4
1 equity pieces beside them
Next maturity
Jun 30, 2027
$92.0M inside 24 months
On the tape since
Dec 31, 2022
latest Jun 30, 2026
Events
19
dated, non-routine
Capital structure as the BDCs see it
latest quarter end Jun 30, 2026
| Facility | Held | On cost | Pricing | Maturity | BDCs |
|---|---|---|---|---|---|
| other lien unstated | at least $59.7M | 96c | S+925 bp PIK 5.00% | Jun 30, 2027 | 2 |
| second lien term loan second lien | at least $14.3M | 102c | PIK 14.50% | Mar 1, 2028 | 2 |
| first lien term loan first lien | at least $10.9M | 101c | SOFR+925 bp PIK 5.25% | Mar 1, 2028 | 3 |
| first lien revolver first lien | at least $7.1M | 96c | S+925 bp PIK 5.00% | Jun 30, 2027 | 1 |
Equity pieces beside the debt: equity ($313,000 fair value, 1 BDC)
Lenders
every BDC piece at the latest quarter end
| BDC | Instrument | Principal | Fair value | Rate |
|---|---|---|---|---|
| B• P••••••• L•••••• C••• | term loan first lien S••••• S•••••• L••• I••••••• R••• 13.48% R•••••••• R••• and S••••• S + 9.75%, 5.25% PIK F• | $1.1M | $1.1M 100c | SOFR+975 bp PIK 5.25% |
| B• P••••••• L•••••• C••• | term loan first lien S••••• S•••••• L••• I••••••• R••• 13.48% R•••••••• R••• and S••••• S + 9.75% F•••• 1.00% M | $210,000 | $210,000 100c | SOFR+975 bp |
| B• P••••••• L•••••• C••• | term loan first lien S••••• S•••••• L••• I••••••• R••• 0.00% R•••••••• R••• and S••••• NA F•••• 0.00% M••••••• | $2.6M | $2.5M 99c | S+975 bp |
| B•• I••••••••• C••• | term loan first lien F•••• L•••/S••••• S•••••• D••• I••••••• R••• 13.01% R•••••••• R••• and S••••• S••• + 9.25% | $7.0M | $7.0M 101c | SOFR+925 bp PIK 5.00% |
| B•• I••••••••• C••• | term loan second lien S••••• L•••/S••••• S•••••• D••• I••••••• R••• 14.50% PIK M••••••• 03/01/28 | $14.3M | $14.1M 102c | PIK 14.50% |
| H•• C•••••••• C•••••• S•••••••• F••• | revolver first lien N••••••••• I••••• | $6.9M | $6.7M 96c | S+925 bp PIK 5.00% |
| H•• C•••••••• C•••••• S•••••••• F••• | unstated lien unstated | n/a | n/a | |
| H•• C•••••••• C•••••• S•••••••• F••• | revolver first lien N••••••••• I••••• | $160,000 | $-6,000 | |
| H•• C•••••••• L•••••• F••• | unstated lien unstated N••••••••• I••••• | $59.7M | $57.3M 96c | S+925 bp PIK 5.00% |
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 | 4 | $92.0M | $88.9M | 97c | 5 |
| Mar 31, 2026 | 4 | $31.5M | $31.3M | 102c | 4 |
| Dec 31, 2025 | 4 | $93.5M | $93.1M | 101c | 8 |
| Sep 30, 2025 | 4 | $88.5M | $87.8M | 100c | 4 |
| Jun 30, 2025 | 4 | $79.3M | $78.5M | 99c | 4 |
| Mar 31, 2025 | 5 | $86.2M | $85.2M | 99c | 5 |
| Dec 31, 2024 | 5 | $169M | $165M | 98c | 9 |
| Sep 30, 2024 | 5 | $83.8M | $81.8M | 98c | 5 |
| Jun 30, 2024 | 5 | $82.3M | $81.4M | 99c | 5 |
| Mar 31, 2024 | 3 | $64.7M | $63.9M | 99c | 2 |
| Dec 31, 2023 | 4 | $73.4M | $72.0M | 98c | 4 |
| Sep 30, 2023 | 3 | $62.8M | $62.0M | 99c | 2 |
| Jun 30, 2023 | 3 | $61.9M | $60.8M | 98c | 2 |
| Mar 31, 2023 | 3 | $58.6M | $57.6M | 99c | 4 |
| Dec 31, 2022 | 3 | $68.1M | $65.5M | 96c | 5 |
What changed
- Maturity approachingMar 1, 2028
- Maturity approachingMar 1, 2028
- Maturity approachingJun 30, 2027
- Maturity approachingJun 30, 2027
- Maturity approachingJun 30, 2027
- Maturity approachingJun 30, 2027
- Maturity approachingJun 30, 2027
- Maturity approachingJun 30, 2027
- Spread changed (observed)Jun 30, 2026
- Marked down (one lender)Jun 30, 2026
- Spread changed (observed)Dec 31, 2025
- PIK interest appearsDec 31, 2025
- Maturity shortened (observed)Sep 30, 2025
- PIK interest increasedJun 30, 2025
- Spread changed (observed)Jun 30, 2025
- PIK interest increasedJun 30, 2025
- Spread increasedJun 30, 2025
- Maturity extended (observed)Jun 30, 2025
- Spread changed (observed)Mar 31, 2025
- Spread increasedMar 31, 2025
- Spread changed (observed)Dec 31, 2024
- Spread increasedDec 31, 2024
- Spread increasedDec 31, 2024
- Spread changed (observed)Sep 30, 2024
- Maturity extended (observed)Sep 30, 2024
- Maturity shortened (observed)Jun 30, 2024
- Maturity extended (observed)Mar 31, 2024
- New lender joined a facilityDec 31, 2023
- New lender joined a facilityDec 31, 2023
- Spread changed (observed)Jun 30, 2023
Sponsor
No sponsor attribution: no portfolio page, deal announcement or Form D signer consensus names an owner for this borrower group.
Identity
- Group key
- AMERICAN ACADEMYderivedthe codename stem after legal suffixes and deal words
- Spellings
- 2 across 5 BDCsderived
- Industry
- Health Care Providers & Servicesreportedas one filer wrote it