DFX Intelligence
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Borrower
E•••••• L••
Healthcare & Pharmaceuticalsgroup grade Aon a schedule nowsponsor unattributed
Also written as: Healthcare & Pharmaceuticals
What matters now
- 101¢ → 97¢consensus mark
Consensus mark 97¢ on cost, down from 101¢ a year ago, 99¢ last quarter.
Q2 2026 · The lenders' own valuations, the most direct read of what they expect to recover.
Derived2 of 2 lenders' own marks, weighted by principal
Mark path, consensus per quarter end
101¢ · 101¢ · 100¢ · 99¢ · 97¢Q2 2025 to Q2 2026
Where each lender marks it, 0 points apart
97¢97¢
Principal held
at least $71.3M
sum of BDC pieces, a lower bound
Fair value
$68.4M
97c on cost, debt pieces
Unfunded
$4.9M
commitments not yet drawn
BDC lenders
7
2 on the latest quarter
Facilities
3
0 equity pieces beside them
Next maturity
Sep 14, 2030
no dated debt inside 24 months
On the tape since
Dec 31, 2021
latest Jun 30, 2026
Events
15
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 |
|---|---|---|---|
| C•••••• S•••••• L••••••• I••• | $35.7M | 97¢ | -2 pts |
| C•••••• C••••• S••••••••• I••• | $35.7M | 97¢ | -2 pts |
Every BDC piece · 4 positions across 2 lenderslargest principal first, with instrument and rate
| BDC | Instrument | Principal | Fair value | Rate |
|---|---|---|---|---|
| C•••••• S•••••• L••••••• I••• | term loan first lien Investment | N••••••••• I••••• | F•••• L••• D••• | $35.7M | $34.2M 97c | S+300 bp PIK 3.50% |
| C•••••• C••••• S••••••••• I••• | term loan first lien Investment | N••••••••• I••••• | F•••• L••• D••• | $35.7M | $34.2M 97c | S+300 bp PIK 3.50% |
| C•••••• C••••• S••••••••• I••• | revolver second lien Investments | N••••••••• I••••• | F•••• and S••••• L••• D••• | R••••••• | Not disclosed | Not disclosed | |
| C•••••• S•••••• L••••••• I••• | revolver second lien Investments | N••••••••• | F•••• and S••••• L••• D••• | R••••••• | Not disclosed | Not disclosed |
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 $71.3M | 97c | S+300 bp PIK 3.50% | Sep 14, 2030 | 2 |
| second lien revolver second lien | unknown | n/a | unstated | 2 | |
| first lien revolver first lien exited Mar 31, 2025 | at least $722,000 | 73c | //www.stonepoint.com/20250331#Alternate Base Rate+750 bp | Sep 14, 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 | 2 | $71.3M | $68.4M | 97c | 2 |
| Mar 31, 2026 | 2 | $70.5M | $68.9M | 99c | 2 |
| Dec 31, 2025 | 2 | $69.9M | $69.4M | 100c | 2 |
| Sep 30, 2025 | 2 | $75.3M | $75.6M | 101c | 2 |
All 17 quartersShow fewer
| Quarter end | BDCs | Principal held | Fair value | On cost | PIK pieces |
|---|---|---|---|---|---|
| Jun 30, 2025 | 2 | $74.6M | $74.7M | 101c | 0 |
| Mar 31, 2025 | 6 | $72.2M | $65.3M | 91c | 3 |
| Dec 31, 2024 | 6 | $152M | $132M | 88c | 11 |
| Sep 30, 2024 | 7 | $70.6M | $60.0M | 86c | 6 |
| Jun 30, 2024 | 7 | $70.4M | $58.7M | 85c | 6 |
| Mar 31, 2024 | 7 | $70.3M | $59.5M | 86c | 6 |
| Dec 31, 2023 | 7 | $113M | $96.0M | 86c | 0 |
| Sep 30, 2023 | 7 | $70.6M | $64.9M | 93c | 0 |
| Jun 30, 2023 | 7 | $70.8M | $64.4M | 92c | 0 |
| Mar 31, 2023 | 7 | $71.0M | $68.8M | 99c | 0 |
| Dec 31, 2022 | 7 | $94.8M | $91.9M | 99c | 0 |
| Sep 30, 2022 | 2 | $19.1M | $18.0M | 96c | 0 |
| Dec 31, 2021 | 2 | $19.2M | $18.8M | 100c | 0 |
What changed
- Spread changed (observed)Sep 30, 2025
- PIK interest appearsSep 30, 2025
- PIK interest appearsSep 30, 2025
- PIK interest appearsSep 30, 2025
- Maturity extended (observed)Jun 30, 2025
Full timeline · 30 eventsShow fewer
- Spread changed (observed)Jun 30, 2025
- Mark recoveredJun 30, 2025
- Maturity extended (observed)Jun 30, 2025
- Maturity extended (observed)Jun 30, 2025
- Spread changed (observed)Mar 31, 2025
- Lender left a facilityMar 31, 2025
- Lender left a facilityMar 31, 2025
- Lender left a facilityMar 31, 2025
- Lender left a facilityMar 31, 2025
- Facility left every BDC scheduleMar 31, 2025
- Spread increasedMar 31, 2025
- Spread increasedMar 31, 2025
- Spread increasedMar 31, 2025
- Spread increasedMar 31, 2025
- Spread increasedMar 31, 2025
- PIK interest appearsMar 31, 2025
- Spread changed (observed)Dec 31, 2024
- Spread changed (observed)Sep 30, 2024
- Spread increasedSep 30, 2024
- Spread increasedSep 30, 2024
- Spread increasedSep 30, 2024
- PIK interest appearsMar 31, 2024
- Spread changed (observed)Mar 31, 2024
- Spread increasedMar 31, 2024
- Spread increasedMar 31, 2024
Sponsor
No sponsor attribution: no portfolio page, deal announcement or Form D signer consensus names an owner for this borrower group.
Identity
- Group key
- ELLKAYderivedthe codename stem after legal suffixes and deal words
- Spellings
- 1 across 7 BDCsderived
- Industry
- Healthcare & Pharmaceuticalsreportedas one filer wrote it