DFX Intelligence
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Borrower
A••••• B•••••• S•••••• I••••••••• L••
Healthcare & Pharmaceuticalsgroup grade Aon a schedule nowsponsor unattributed
Also written as: A••••• B•••••• Systems
Nothing material in the last 200 days. No dated change on record yet.
Mark path, consensus per quarter end
101¢ · 101¢ · 100¢ · 100¢ · 100¢Q2 2025 to Q2 2026
Where each lender marks it, 1 points apart
100¢101¢
Principal held
at least $297M
sum of BDC pieces, a lower bound
Fair value
$296M
100c on cost, debt pieces
Unfunded
$8.5M
commitments not yet drawn
BDC lenders
13
7 on the latest quarter
Facilities
5
0 equity pieces beside them
Next maturity
Oct 1, 2030
no dated debt inside 24 months
On the tape since
Dec 31, 2022
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 |
|---|---|---|---|
| A••••• D••• S•••••••• B•• | $158M | 100¢ | 0 pts |
| B•••••••• P•••••• C••••• F••• | $41.5M | 101¢ | +1 pts |
| C•••••• S•••••• L••••••• I••• | $36.4M | 100¢ | 0 pts |
| B••• O•• C••••• I••••• C•••• | $36M | 100¢ | +1 pts |
| C•••••• C••••• S••••••••• I••• | $19.4M | 100¢ | 0 pts |
View all 7 lendersShow fewerlargest exposure first
| Lender | Exposure | Current mark | QoQ change |
|---|---|---|---|
| B••• O•• C•••••• C••• | $5.21M | 100¢ | +1 pts |
| B••• O•• C•••••• C••• I• | $553K | 100¢ | +1 pts |
Every BDC piece · 14 positions across 7 lenderslargest principal first, with instrument and rate
| BDC | Instrument | Principal | Fair value | Rate |
|---|---|---|---|---|
| A••••• D••• S•••••••• B•• | term loan first lien Investment T••• F•••• L••• S•••••• D••• - T••• L••• I••••••• R••• S+500, 0.75% F•••• M•••• | $158M | $157M 100c | SOFR+500 bp |
| B•••••••• P•••••• C••••• F••• | term loan first lien I••••••••• F•••• L••• T••• L••• Ref S•••(M) F•••• 0.75% S••••• 5.00% T•••• C••••• 8.64% M• | $41.5M | $41.8M 101c | SOFR+500 bp |
| B••• O•• C••••• I••••• C•••• | term loan first lien F•••• lien senior secured loan | N••••••••• I••••• | $36.0M | $35.9M 100c | S+500 bp |
| C•••••• S•••••• L••••••• I••• | term loan first lien Credit Fund | F•••• L••• D••• | $22.4M | $22.3M 100c | S+500 bp |
| C•••••• C••••• S••••••••• I••• | term loan first lien Investment | N••••••••• I••••• | F•••• L••• D••• | $19.4M | $19.3M 100c | S+500 bp |
View all 14 positionsShow fewerlargest principal first
| BDC | Instrument | Principal | Fair value | Rate |
|---|---|---|---|---|
| C•••••• S•••••• L••••••• I••• | term loan first lien Investment | N••••••••• I••••• | F•••• L••• D••• | $14.1M | $14.1M 100c | S+500 bp |
| B••• O•• C•••••• C••• | term loan first lien F•••• lien senior secured loan | N••••••••• | $5.2M | $5.2M 100c | S+500 bp |
| B••• O•• C•••••• C••• I• | term loan first lien F•••• lien senior secured loan | Non A••••••••• | $553,000 | $551,000 100c | S+500 bp |
| B•••••••• P•••••• C••••• F••• | delayed draw term loan first lien I••••••••• F•••• L••• D•••••• D••• T••• L••• Ref S•••(M) F•••• 0.75% S••••• 5.00% T•••• C• | $0 | $41,305 | SOFR+500 bp |
| A••••• D••• S•••••••• B•• | delayed draw term loan first lien Investment T••• F•••• L••• S•••••• D••• - D•••••• D••• L••• I••••••• R••• S+500, 0.75% F•• | Not disclosed | $-81,000 386c | SOFR+500 bp |
| B••• O•• C••••• I••••• C•••• | delayed draw term loan first lien F•••• lien senior secured delayed draw term loan | N•••••••••/non-affiliated | Not disclosed | Not disclosed | S+500 bp |
| C•••••• C••••• S••••••••• I••• | delayed draw term loan second lien Investments | N••••••••• I••••• | F•••• and S••••• L••• D••• | D•••••• D••• | Not disclosed | Not disclosed | |
| C•••••• S•••••• L••••••• I••• | delayed draw term loan second lien Credit Fund | D•••••• D••• | Not disclosed | Not disclosed | |
| C•••••• S•••••• L••••••• I••• | delayed draw term loan second lien Investments | N••••••••• | F•••• and S••••• L••• D••• | D•••••• D••• | 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 $297M | 100c | SOFR+500 bp | Oct 31, 2030 | 12 |
| first lien delayed draw term loan first lien | at least $0 | n/a | SOFR+500 bp | Oct 31, 2030 | 9 |
| second lien delayed draw term loan second lien | unknown | n/a | unstated | 3 | |
| delayed draw term loan lien unstated exited Dec 31, 2023 | unknown | n/a | unstated | 1 | |
| other lien unstated exited Mar 31, 2025 | unknown | 101c | unstated | 4 |
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 | 7 | $297M | $296M | 100c | 0 |
| Mar 31, 2026 | 7 | $298M | $296M | 100c | 0 |
| Dec 31, 2025 | 7 | $303M | $301M | 100c | 0 |
| Sep 30, 2025 | 10 | $162M | $162M | 101c | 0 |
All 15 quartersShow fewer
| Quarter end | BDCs | Principal held | Fair value | On cost | PIK pieces |
|---|---|---|---|---|---|
| Jun 30, 2025 | 10 | $162M | $163M | 101c | 0 |
| Mar 31, 2025 | 10 | $163M | $163M | 101c | 0 |
| Dec 31, 2024 | 10 | $202M | $203M | 101c | 0 |
| Sep 30, 2024 | 11 | $160M | $160M | 101c | 0 |
| Jun 30, 2024 | 10 | $129M | $130M | 102c | 0 |
| Mar 31, 2024 | 10 | $144M | $129M | 101c | 0 |
| Dec 31, 2023 | 10 | $157M | $140M | 100c | 0 |
| Sep 30, 2023 | 2 | $6.9M | $6.9M | 100c | 0 |
| Jun 30, 2023 | 2 | $6.9M | $6.9M | 99c | 0 |
| Mar 31, 2023 | 1 | $6.0M | $5.9M | 99c | 0 |
| Dec 31, 2022 | 6 | $7.0M | $6.9M | 99c | 0 |
What changed
- Lender left a facilitySep 30, 2025
- Lender left a facilitySep 30, 2025
- Lender left a facilitySep 30, 2025
- Lender left a facilitySep 30, 2025
- Lender left a facilitySep 30, 2025
Full timeline · 30 eventsShow fewer
- Lender left a facilityJun 30, 2025
- Lender left a facilityJun 30, 2025
- Facility left every BDC scheduleMar 31, 2025
- Lender left a facilityDec 31, 2024
- New lender joined a facilitySep 30, 2024
- New lender joined a facilitySep 30, 2024
- Maturity extended (observed)Sep 30, 2024
- New lender joined a facilitySep 30, 2024
- Lender left a facilityJun 30, 2024
- New lender joined a facilityJun 30, 2024
- New lender joined a facilityDec 31, 2023
- Spread changed (observed)Dec 31, 2023
- Maturity extended (observed)Dec 31, 2023
- New lender joined a facilityDec 31, 2023
- New lender joined a facilityDec 31, 2023
- New lender joined a facilityDec 31, 2023
- New lender joined a facilityDec 31, 2023
- New lender joined a facilityDec 31, 2023
- New lender joined a facilityDec 31, 2023
- New lender joined a facilityDec 31, 2023
- New lender joined a facilityDec 31, 2023
- New lender joined a facilityDec 31, 2023
- Spread increasedDec 31, 2023
- New lender joined a facilityDec 31, 2023
- New lender joined a facilityDec 31, 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
- ALLIED BENEFIT SYSTEMSderivedthe codename stem after legal suffixes and deal words
- Spellings
- 2 across 13 BDCsderived
- Industry
- Healthcare & Pharmaceuticalsreportedas one filer wrote it