DFX Intelligence
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Borrower
N••• M••••••• I••
Health Care Equipment & Servicesgroup grade Aoff every schedule since Dec 31, 2025sponsor unattributed
Nothing material in the last 200 days. Last change: 31 Dec 2025, Consensus mark 102¢ on cost, up from 102¢ a year ago, 100¢ last quarter.
Mark path, consensus per quarter end
102¢ · 104¢ · 104¢ · 100¢ · 102¢Q4 2024 to Q4 2025
Principal held
at least $1.6M
sum of BDC pieces, a lower bound
Fair value
$2.1M
102c on cost, debt pieces
Unfunded
Not disclosed
commitments not yet drawn
BDC lenders
2
2 on the latest quarter
Facilities
2
2 equity pieces beside them
Next maturity
Aug 1, 2030
no dated debt inside 24 months
On the tape since
Dec 31, 2022
latest Dec 31, 2025
Events
3
dated, non-routine
Lender marks
each lender's own fair value over cost at Dec 31, 2025, folded to one row per lender
| Lender | Exposure | Current mark | QoQ change |
|---|---|---|---|
| E•••• P•••• T•••••• S••••• S•••••• L•••••• C• | $1.58M | 102¢ | +2 pts |
Every BDC piece · 4 positions across 2 lenderslargest principal first, with instrument and rate
| BDC | Instrument | Principal | Fair value | Rate |
|---|---|---|---|---|
| E•••• P•••• T•••••• S••••• S•••••• L•••••• C• | term loan lien unstated S•••••• L••• | $1.6M | $1.6M 102c | S+300 bp |
| E•••• P•••• T•••••• S••••• S•••••• L•••••• C• | warrants equity W•••••• | Not disclosed | $27,000 225c | |
| R••••• G••••• F•••••• C•••• | preferred equity equity W•••••• Investment T••• W••••••• Series D-2 P•••••••• S•••• I•••••• A••••••••• D••• 10/12/ | Not disclosed | $262,000 151c | |
| R••••• G••••• F•••••• C•••• | preferred equity equity W••••••• & O•••• C••••••••• R••••• Investment T••• W••••••• Series D-2 P•••••••• S•••• I•• | Not disclosed | $262,000 151c |
Capital structure as the BDCs see it
latest quarter end Dec 31, 2025
| Facility | Held | On cost | Pricing | Maturity | BDCs |
|---|---|---|---|---|---|
| first lien term loan first lien exited Jun 30, 2025 | at least $21.1M | 104c | Prime+270 bp PIK 2.00% | Oct 12, 2027 | 1 |
| term loan lien unstated exited Dec 31, 2025 | at least $1.6M | 102c | S+300 bp | unstated | 1 |
Equity pieces beside the debt: preferred equity ($524,000 fair value, 1 BDC), warrants ($27,000 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 |
|---|---|---|---|---|---|
| Dec 31, 2025 | 2 | $1.6M | $1.6M | 102c | 0 |
| Sep 30, 2025 | 2 | $1.6M | $1.6M | 100c | 0 |
| Jun 30, 2025 | 1 | $21.1M | $22.3M | 104c | 1 |
| Mar 31, 2025 | 1 | $21.0M | $22.0M | 104c | 1 |
All 13 quartersShow fewer
| Quarter end | BDCs | Principal held | Fair value | On cost | PIK pieces |
|---|---|---|---|---|---|
| Dec 31, 2024 | 1 | $20.9M | $21.4M | 102c | 1 |
| Sep 30, 2024 | 1 | $20.8M | $21.4M | 102c | 1 |
| Jun 30, 2024 | 1 | $20.7M | $21.5M | 104c | 1 |
| Mar 31, 2024 | 1 | $20.6M | $21.4M | 104c | 1 |
| Dec 31, 2023 | 1 | $41.0M | $42.4M | 104c | 2 |
| Sep 30, 2023 | 1 | $20.4M | $20.2M | 100c | 1 |
| Jun 30, 2023 | 1 | $20.3M | $20.1M | 100c | 1 |
| Mar 31, 2023 | 1 | $20.2M | $19.9M | 100c | 1 |
| Dec 31, 2022 | 1 | $60.2M | $59.3M | 100c | 3 |
What changed
- Facility left every BDC scheduleDec 31, 2025
- Facility left every BDC scheduleJun 30, 2025
- New borrower on a BDC scheduleDec 31, 2022
Sponsor
No sponsor attribution: no portfolio page, deal announcement or Form D signer consensus names an owner for this borrower group.
Identity
- Group key
- N••• M••••••derivedthe codename stem after legal suffixes and deal words
- Spellings
- 1 across 2 BDCsderived
- Industry
- Health Care Equipment & Servicesreportedas one filer wrote it