DFX Intelligence
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Borrower
S••••••• P••••• S•••••• B•••• L••
P•••••ceuticalsgroup grade Aon a schedule nowsponsor unattributed
Nothing material in the last 200 days. No dated change on record yet.
Mark path, consensus per quarter end
99¢ · 99¢ · 99¢ · 99¢ · 99¢Q2 2025 to Q2 2026
Principal held
at least $10.3M
sum of BDC pieces, a lower bound
Fair value
$10.1M
99c on cost, debt pieces
Unfunded
Not disclosed
commitments not yet drawn
BDC lenders
2
1 on the latest quarter
Facilities
2
1 equity pieces beside them
Next maturity
Sep 24, 2031
no dated debt inside 24 months
On the tape since
Sep 30, 2024
latest Jun 30, 2026
Events
5
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 |
|---|---|---|---|
| M••••• A••••• I••••••••• P•••••• L•••••• | $10.3M | 99¢ | 0 pts |
Every BDC piece · 3 positions across 1 lenderlargest principal first, with instrument and rate
| BDC | Instrument | Principal | Fair value | Rate |
|---|---|---|---|---|
| M••••• A••••• I••••••••• P•••••• L•••••• | term loan first lien Investment T••• F•••• L••• S•••••• D••• - T••• L••• S+325, C••• plus 2.50% PIK, 0.75% F••• | $10.2M | $9.9M 99c | SOFR+325 bp PIK 2.50% |
| M••••• A••••• I••••••••• P•••••• L•••••• | term loan first lien Investment T••• F•••• L••• S•••••• D••• - T••• L••• E+325, C••• plus 2.50% PIK, 0.75% F••• | $102,000 | $114,000 102c | //fasb.org/us-gaap/2025#Eurodollar+325 bp PIK 2.50% |
| M••••• A••••• I••••••••• P•••••• L•••••• | delayed draw term loan first lien Investment T••• F•••• L••• S•••••• D••• - D•••••• D••• S••••+325, C••• plus 2.50% PIK, 0.7 | Not disclosed | $-4,000 | //mmaipl.com/20260630#Sterling Overnight Index Average+325 bp PIK 2.50% |
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 $10.3M | 99c | //fasb.org/us-gaap/2025#Eurodollar+325 bp PIK 2.50% | Sep 24, 2031 | 2 |
| first lien delayed draw term loan first lien | unknown | n/a | //mmaipl.com/20260630#Sterling Overnight Index Average+325 bp PIK 2.50% | Sep 24, 2031 | 2 |
Equity pieces beside the debt: other ($13.1M fair value, 1 BDC)
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 | 1 | $10.3M | $10.1M | 99c | 3 |
| Mar 31, 2026 | 1 | $9.8M | $9.6M | 99c | 3 |
| Dec 31, 2025 | 1 | $9.8M | $9.6M | 99c | 3 |
| Sep 30, 2025 | 2 | $23.3M | $22.4M | 98c | 6 |
All 8 quartersShow fewer
| Quarter end | BDCs | Principal held | Fair value | On cost | PIK pieces |
|---|---|---|---|---|---|
| Jun 30, 2025 | 1 | $13.7M | $13.0M | 97c | 2 |
| Mar 31, 2025 | 1 | $13.5M | $13.0M | 99c | 0 |
| Dec 31, 2024 | 1 | $13.5M | $13.0M | 99c | 0 |
| Sep 30, 2024 | 1 | $13.5M | $13.1M | 100c | 0 |
What changed
- Spread changed (observed)Sep 30, 2025
- Lender left a facilitySep 30, 2025
- New lender joined a facilitySep 30, 2025
- Spread increasedSep 30, 2025
- New lender joined a facilitySep 30, 2025
Full timeline · 11 eventsShow fewer
- Spread changed (observed)Sep 30, 2025
- Lender left a facilitySep 30, 2025
- PIK interest appearsJun 30, 2025
- Spread changed (observed)Jun 30, 2025
- PIK interest appearsJun 30, 2025
- New borrower on a BDC scheduleSep 30, 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
- STERLING PHARMA SAFFRONderivedthe codename stem after legal suffixes and deal words
- Spellings
- 1 across 2 BDCsderived
- Industry
- P•••••ceuticalsreportedas one filer wrote it