DFX Intelligence
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Borrower
C•• G•••• H•••••••• I••
Healthcare & Pharmaceuticalsgroup grade Aoff every schedule since Dec 31, 2023sponsor unattributed
Nothing material in the last 200 days. No dated change on record yet.
Mark path, consensus per quarter end
100¢ · 100¢ · 100¢ · 100¢ · 100¢Q4 2022 to Q4 2023
Where each lender marks it on the first lien term loan, 0 points apart
100¢100¢
Principal held
at least $89.9M
sum of BDC pieces, a lower bound
Fair value
$89.9M
100c on cost, debt pieces
Unfunded
Not disclosed
commitments not yet drawn
BDC lenders
3
3 on the latest quarter
Facilities
2
0 equity pieces beside them
Next maturity
Mar 3, 2025
$79.9M inside 24 months
On the tape since
Dec 31, 2021
latest Dec 31, 2023
Events
5
dated, non-routine
Lender marks
each lender's own fair value over cost at Dec 31, 2023, folded to one row per lender
| Lender | Exposure | Current mark | QoQ change |
|---|---|---|---|
| B••• C•••••• S•••••••• F••••••• I••• | $70M | 100¢ | 0 pts |
| S•••••••• P•••••• C••••• F••• L•• | $10M | 100¢ | new this quarter |
| B••• C•••••• P•••••• C••••• | $9.86M | 100¢ | new this quarter |
Every BDC piece · 7 positions across 3 lenderslargest principal first, with instrument and rate
| BDC | Instrument | Principal | Fair value | Rate |
|---|---|---|---|---|
| B••• C•••••• S•••••••• F••••••• I••• | term loan first lien F•••• L••• S••••• S•••••• L••• S••• S••••• 5.25% I••••••• R••• 10.79% M••••••• D••• 3/3/20 | $34.4M | $34.4M 100c | S+525 bp |
| B••• C•••••• S•••••••• F••••••• I••• | term loan first lien F•••• L••• S••••• S•••••• L••• S••• S••••• 5.25% I••••••• R••• 10.79% M••••••• D••• 3/3/20 | $34.4M | $34.4M 100c | S+525 bp |
| B••• C•••••• P•••••• C••••• | term loan first lien F•••• L••• S••••• S•••••• L••• S••• S••••• 5.25% I••••••• R••• 10.75% M••••••• D••• 3/3/20 | $9.9M | $9.9M 100c | S+525 bp |
| S•••••••• P•••••• C••••• F••• L•• | term loan first lien T••• L••• | N•••••••••, N••••••••• D••• Investments | F•••• L••• S••••• S•••••• | 6/1/2028 | $5.0M | $5.0M 100c | S+540 bp |
| S•••••••• P•••••• C••••• F••• L•• | term loan first lien T••• L••• | N••••••••• N••••••••• D••• Investments | F•••• L••• S••••• S•••••• | 6/1/2028 | $5.0M | $5.0M 100c | S+540 bp |
View all 7 positionsShow fewerlargest principal first
| BDC | Instrument | Principal | Fair value | Rate |
|---|---|---|---|---|
| B••• C•••••• S•••••••• F••••••• I••• | revolver first lien F•••• L••• S••••• S•••••• L••• - R••••••• S••• S••••• 5.25% I••••••• R••• 10.71% M••••••• | $592,000 | $592,000 102c | S+525 bp |
| B••• C•••••• S•••••••• F••••••• I••• | revolver first lien F•••• L••• S••••• S•••••• L••• - R••••••• S••• S••••• 5.25% I••••••• R••• 10.71% M••••••• | $592,000 | $592,000 102c | S+525 bp |
Capital structure as the BDCs see it
latest quarter end Dec 31, 2023
| Facility | Held | On cost | Pricing | Maturity | BDCs |
|---|---|---|---|---|---|
| first lien term loan first lien exited Dec 31, 2023 | at least $88.7M | 100c | S+525 bp | Jun 1, 2028 | 3 |
| first lien revolver first lien exited Dec 31, 2023 | at least $1.2M | 102c | S+525 bp | Mar 3, 2025 | 1 |
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, 2023 | 3 | $89.9M | $89.9M | 100c | 0 |
| Sep 30, 2023 | 1 | $35.3M | $35.3M | 100c | 0 |
| Jun 30, 2023 | 1 | $36.3M | $36.3M | 100c | 0 |
| Mar 31, 2023 | 1 | $34.6M | $34.6M | 100c | 0 |
All 7 quartersShow fewer
| Quarter end | BDCs | Principal held | Fair value | On cost | PIK pieces |
|---|---|---|---|---|---|
| Dec 31, 2022 | 1 | $89.6M | $89.1M | 100c | 0 |
| Sep 30, 2022 | 1 | $44.8M | $44.8M | 100c | 0 |
| Dec 31, 2021 | 1 | $110M | $110M | 101c | 0 |
What changed
- Maturity extended (observed)Dec 31, 2023
- Facility left every BDC scheduleDec 31, 2023
- New lender joined a facilityDec 31, 2023
- New lender joined a facilityDec 31, 2023
- Facility left every BDC scheduleDec 31, 2023
Full timeline · 8 eventsShow fewer
- Spread changed (observed)Jun 30, 2023
- Spread changed (observed)Sep 30, 2022
- Spread increasedSep 30, 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
- CPS GROUP HOLDINGderivedthe codename stem after legal suffixes and deal words
- Spellings
- 1 across 3 BDCsderived
- Industry
- Healthcare & Pharmaceuticalsreportedas one filer wrote it