DFX Intelligence
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Borrower
N••••••• T••••••••• I••
Health Care Providers & Servicesgroup grade Aon a schedule nowsponsor unattributed
Also written as: Health Care Equipment & Services; Inc. Emerald JV LP; Verdelite JV LP
Principal held
at least $903M
sum of BDC pieces, a lower bound
Fair value
$830M
99c on cost, debt pieces
Unfunded
$79.8M
commitments not yet drawn
BDC lenders
12
12 on the latest quarter
Facilities
4
0 equity pieces beside them
Next maturity
Aug 1, 2031
no dated debt inside 24 months
On the tape since
Dec 31, 2021
latest Jun 30, 2026
Events
0
dated, non-routine
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 $542M | 98c | SOFR+520 bp PIK 2.70% | Aug 25, 2031 | 6 |
| other lien unstated | at least $361M | 99c | S+520 bp PIK 2.70% | Aug 25, 2031 | 6 |
| revolver lien unstated | unknown | n/a | S+520 bp | unstated | 2 |
| delayed draw term loan lien unstated | unknown | n/a | S+520 bp | unstated | 2 |
Lenders
every BDC piece at the latest quarter end
| BDC | Instrument | Principal | Fair value | Rate |
|---|---|---|---|---|
| B••••••••• P•••••• C••••• F••• | delayed draw term loan lien unstated D•••••• D••• T••• L••• | n/a | n/a | S+520 bp |
| B••••••••• P•••••• C••••• F••• | revolver lien unstated R••••••• | n/a | n/a | S+520 bp |
| B••••••••• P•••••• C••••• F••• | unstated lien unstated N••••••••• I••••• | $140M | $137M 99c | S+520 bp PIK 2.70% |
| B••••••••• S•••••• L•••••• F••• | revolver lien unstated R••••••• | n/a | n/a | S+520 bp |
| B••••••••• S•••••• L•••••• F••• | delayed draw term loan lien unstated D•••••• D••• T••• L••• | n/a | n/a | S+520 bp |
| B••••••••• S•••••• L•••••• F••• | unstated lien unstated N••••••••• I••••• | $24.6M | $24.1M 99c | S+520 bp PIK 2.70% |
| F• K•• C•••••• C••• | unstated lien unstated H••••• C••• E•••••••• & Services 3 | $6.3M | $6.2M 98c | S+480 bp |
| F• K•• C•••••• C••• | unstated lien unstated | n/a | n/a | |
| F• K•• C•••••• C••• | unstated lien unstated H••••• C••• E•••••••• & Services 1 | $61.1M | $60.3M 99c | S+520 bp PIK 2.70% |
| F• K•• C•••••• C••• | unstated lien unstated | n/a | n/a | |
| F• K•• C•••••• C••• | unstated lien unstated H••••• C••• E•••••••• & Services 2 | $6.2M | $6.1M 98c | S+500 bp PIK 2.50% |
| G•••••• S•••• P•••••• C••••• C•••• | term loan first lien 1st L•••/S••••• S•••••• D••• I••••••• H••••• C••• P•••••••• & Services R•••••••• R••• and | $24.2M | $-362,000 193c | SOFR+520 bp PIK 2.70% |
| G•••••• S•••• P•••••• C••••• C•••• | term loan first lien 1st L•••/S••••• S•••••• D••• I••••••• H••••• C••• P•••••••• & Services R•••••••• R••• and | $23.7M | $-355,000 374c | SOFR+520 bp PIK 2.70% |
| G•••••• S•••• P•••••• C••••• C•••• | term loan first lien 1st L•••/S••••• S•••••• D••• I••••••• H••••• C••• P•••••••• & Services I••••••• R••• 8.84% | $186M | $183M 99c | SOFR+520 bp PIK 2.70% |
| G•••••• S•••• P•••••• C••••• C•••• | term loan first lien 1st L•••/S••••• S•••••• D••• I••••••• H••••• C••• P•••••••• & Services I••••••• R••• 8.84% | $62.5M | $61.6M 99c | SOFR+520 bp PIK 2.70% |
| G•••• C•••••• B•• 4• I••• | term loan first lien One stop 2 | $23.9M | $23.3M 98c | S+520 bp PIK 2.70% |
| G•••• C•••••• B•• 4• I••• | term loan first lien One stop 4 | $0 | $-76,000 844c | S+520 bp |
| G•••• C•••••• B•• 4• I••• | term loan first lien One stop 3 | $0 | $-49,000 272c | S+520 bp |
| G•••• C•••••• B•• 4• I••• | term loan first lien One stop 1 | $7.7M | $7.5M 98c | S+520 bp PIK 2.70% |
| G•••• C•••••• B••• I••• | term loan first lien One stop 4 | N••••••••• I••••• | $508,000 | $496,000 98c | S+520 bp PIK 2.70% |
| G•••• C•••••• B••• I••• | term loan first lien One stop 3 | N••••••••• I••••• | $0 | $-172,000 688c | S+520 bp |
| G•••• C•••••• B••• I••• | term loan first lien One stop 1 | N••••••••• I••••• | $54.2M | $52.8M 98c | S+520 bp PIK 2.70% |
| G•••• C•••••• B••• I••• | term loan first lien One stop 2 | N••••••••• I••••• | $0 | $-140,000 275c | S+520 bp |
| G•••• C•••••• D••••• L•••••• C••• | term loan first lien One stop 3 | $0 | $-23,000 767c | S+520 bp |
| G•••• C•••••• D••••• L•••••• C••• | term loan first lien One stop 2 | $0 | $-17,000 283c | S+520 bp |
| G•••• C•••••• D••••• L•••••• C••• | term loan first lien One stop 4 | $172,000 | $167,000 98c | S+520 bp PIK 2.70% |
| G•••• C•••••• D••••• L•••••• C••• | term loan first lien One stop 1 | $7.2M | $7.0M 98c | S+520 bp PIK 2.70% |
| G•••• C•••••• D••••• L•••••• U•••••••• C••• | term loan first lien One stop 4 | $160,000 | $156,000 98c | S+520 bp PIK 2.70% |
| G•••• C•••••• D••••• L•••••• U•••••••• C••• | term loan first lien One stop 2 | $0 | $-8,000 267c | S+520 bp |
| G•••• C•••••• D••••• L•••••• U•••••••• C••• | term loan first lien One stop 3 | $0 | $-11,000 1100c | S+520 bp |
| G•••• C•••••• D••••• L•••••• U•••••••• C••• | term loan first lien One stop 1 | $3.4M | $3.4M 98c | S+520 bp PIK 2.70% |
| G•••• C•••••• P•••••• C••••• F••• | term loan first lien One stop 4 | $47.0M | $45.8M 98c | S+520 bp PIK 2.70% |
| G•••• C•••••• P•••••• C••••• F••• | term loan first lien One stop 2 | $0 | $-155,000 272c | S+520 bp |
| G•••• C•••••• P•••••• C••••• F••• | term loan first lien One stop 3 | $0 | $-324,000 1157c | S+520 bp |
| G•••• C•••••• P•••••• C••••• F••• | term loan first lien One stop 1 | $102M | $99.0M 98c | S+520 bp PIK 2.70% |
| K•• E••••••• U• D••••• L•••••• F••••• I••• | unstated lien unstated | $3.9M | $-54,000 | S+250 bp PIK 2.45% |
| K•• E••••••• U• D••••• L•••••• F••••• I••• | unstated lien unstated | $30.4M | $30.0M | S+250 bp PIK 2.70% |
| K•• E••••••• U• D••••• L•••••• F••••• I••• | unstated lien unstated | $3.9M | $-55,000 | S+475 bp |
| K•• E••••••• U• D••••• L•••••• F••••• I••• | unstated lien unstated | $5.9M | $5.9M | S+250 bp PIK 2.70% |
| K•• F• I••••• T•••• | unstated lien unstated | n/a | n/a | |
| K•• F• I••••• T•••• | unstated lien unstated H••••• C••• E•••••••• & Services 3 | $4.3M | $4.3M 99c | S+480 bp |
| K•• F• I••••• T•••• | unstated lien unstated | n/a | n/a | |
| K•• F• I••••• T•••• | unstated lien unstated H••••• C••• E•••••••• & Services 1 | $41.9M | $41.3M 99c | S+520 bp |
| K•• F• I••••• T•••• | unstated lien unstated H••••• C••• E•••••••• & Services 2 | $4.3M | $4.2M 99c | S+500 bp |
| K•• F• I••••• T•••• S••••• | unstated lien unstated H••••• C••• E•••••••• & Services 1 | $22.8M | $22.5M 99c | S+520 bp |
| K•• F• I••••• T•••• S••••• | unstated lien unstated | n/a | n/a | |
| K•• F• I••••• T•••• S••••• | unstated lien unstated H••••• C••• E•••••••• & Services 2 | $2.9M | $2.9M 99c | S+500 bp |
| K•• F• I••••• T•••• S••••• | unstated lien unstated | n/a | n/a | |
| K•• F• I••••• T•••• S••••• | unstated lien unstated H••••• C••• E•••••••• & Services 3 | $3.0M | $2.9M 99c | S+480 bp |
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 | 12 | $903M | $830M | 103c | 21 |
| Mar 31, 2026 | 12 | $893M | $821M | 103c | 21 |
| Dec 31, 2025 | 12 | $1.2B | $1.1B | 104c | 25 |
| Sep 30, 2025 | 12 | $895M | $842M | 104c | 19 |
| Jun 30, 2025 | 12 | $752M | $699M | 105c | 14 |
| Mar 31, 2025 | 12 | $747M | $695M | 105c | 18 |
| Dec 31, 2024 | 12 | $1.1B | $1.0B | 103c | 24 |
| Sep 30, 2024 | 12 | $727M | $665M | 105c | 10 |
| Jun 30, 2024 | 1 | $19.7M | $19.7M | 101c | 0 |
| Mar 31, 2024 | 1 | $19.7M | $19.8M | 101c | 0 |
| Dec 31, 2023 | 1 | $26.6M | $26.7M | 101c | 0 |
| Sep 30, 2023 | 1 | $19.8M | $19.9M | 100c | 0 |
| Jun 30, 2023 | 1 | $19.9M | $19.8M | 100c | 0 |
| Mar 31, 2023 | 1 | $13.1M | $12.9M | 99c | 0 |
| Dec 31, 2022 | 1 | $19.1M | $18.4M | 96c | 0 |
| Sep 30, 2022 | 1 | $19.6M | $18.8M | 95c | 0 |
| Dec 31, 2021 | 1 | $24.8M | $24.9M | 100c | 0 |
What changed
- Spread increasedMar 31, 2025
- Spread increasedMar 31, 2025
- Spread increasedMar 31, 2025
- Spread increasedMar 31, 2025
- Spread increasedMar 31, 2025
- PIK interest appearsDec 31, 2024
- PIK interest appearsDec 31, 2024
- PIK interest appearsDec 31, 2024
- New lender joined a facilitySep 30, 2024
- New lender joined a facilitySep 30, 2024
- New lender joined a facilitySep 30, 2024
- New lender joined a facilitySep 30, 2024
- New lender joined a facilitySep 30, 2024
- Spread increasedSep 30, 2024
- PIK interest appearsSep 30, 2024
- Maturity extended (observed)Sep 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
- N••••••• T•••••••••derivedthe codename stem after legal suffixes and deal words
- Spellings
- 1 across 12 BDCsderived
- Industry
- Health Care Providers & Servicesreportedas one filer wrote it