DFX Intelligence
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Borrower
b••••••• b••• I••
Drug Discovery & Developmentgroup grade Aoff every schedule since Jun 30, 2025sponsor unattributed
Also written as: and b••••••• b••• I••
Nothing material in the last 200 days. Last change: 30 Jun 2025, Consensus mark 100¢ on cost, up from 99¢ a year ago, 94¢ last quarter.
Mark path, consensus per quarter end
99¢ · 101¢ · 86¢ · 94¢ · 100¢Q2 2024 to Q2 2025
Principal held
at least $66.5M
sum of BDC pieces, a lower bound
Fair value
$65.5M
100c on cost, debt pieces
Unfunded
Not disclosed
commitments not yet drawn
BDC lenders
1
1 on the latest quarter
Facilities
1
1 equity pieces beside them
Next maturity
Apr 1, 2029
no dated debt inside 24 months
On the tape since
Mar 31, 2024
latest Jun 30, 2025
Events
6
dated, non-routine
Lender marks
each lender's own fair value over cost at Jun 30, 2025, folded to one row per lender
| Lender | Exposure | Current mark | QoQ change |
|---|---|---|---|
| H••••••• C••••••• I••• | $66.5M | 100¢ | +6 pts |
Every BDC piece · 1 position across 1 lenderlargest principal first, with instrument and rate
| BDC | Instrument | Principal | Fair value | Rate |
|---|---|---|---|---|
| H••••••• C••••••• I••• | term loan first lien S••••• S••••••, M••••••• D••• A•••• 2029, P•••• + 2.45%, F•••• rate 9.45%, 3.20% E••• Fee | $66.5M | $65.5M 100c | S+245 bp |
Capital structure as the BDCs see it
latest quarter end Jun 30, 2025
| Facility | Held | On cost | Pricing | Maturity | BDCs |
|---|---|---|---|---|---|
| first lien term loan first lien exited Jun 30, 2025 | at least $66.5M | 100c | S+245 bp | Apr 1, 2029 | 1 |
Equity pieces beside the debt: warrants ($0 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, 2025 | 1 | $66.5M | $65.5M | 100c | 0 |
| Mar 31, 2025 | 1 | $66.1M | $60.6M | 94c | 1 |
| Dec 31, 2024 | 1 | $65.7M | $55.3M | 86c | 1 |
| Sep 30, 2024 | 1 | $65.3M | $63.7M | 101c | 1 |
All 6 quartersShow fewer
| Quarter end | BDCs | Principal held | Fair value | On cost | PIK pieces |
|---|---|---|---|---|---|
| Jun 30, 2024 | 1 | $64.8M | $62.2M | 99c | 1 |
| Mar 31, 2024 | 1 | $64.5M | $62.1M | 100c | 1 |
What changed
- Facility left every BDC scheduleJun 30, 2025
- Spread changed (observed)Jun 30, 2025
- Mark recoveredJun 30, 2025
- Spread increasedJun 30, 2025
- Mark recoveredMar 31, 2025
Full timeline · 8 eventsShow fewer
- Marked down across lendersDec 31, 2024
- Marked down (one lender)Dec 31, 2024
- New borrower on a BDC scheduleMar 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
- B••••••• B••derivedthe codename stem after legal suffixes and deal words
- Spellings
- 1 across 1 BDCderived
- Industry
- Drug Discovery & Developmentreportedas one filer wrote it