DFX Intelligence
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Borrower
B•••••• T••••••••• I••
Pharmaceuticalsgroup grade Aon a schedule nowsponsor unattributed
What matters now
- $14Mprincipal outstanding
$14M principal held by 2 lenders; matures Apr 2027.
Q2 2026 · Refinancing is due in 7 months at a 88¢ mark.
FactBDC schedules of investments, 30 Jun 2026; a sum of the BDCs' pieces, a lower bound
Mark path, consensus per quarter end
88¢ · 88¢ · 88¢ · 88¢ · 88¢Q2 2025 to Q2 2026
Where each lender marks it on the first lien term loan, 0 points apart
88¢88¢
Principal held
at least $14.0M
sum of BDC pieces, a lower bound
Fair value
$12.5M
88c on cost, debt pieces
Unfunded
$0
commitments not yet drawn
BDC lenders
2
2 on the latest quarter
Facilities
2
3 equity pieces beside them
Next maturity
Apr 19, 2027
$14.0M inside 24 months
On the tape since
Sep 30, 2022
latest Jun 30, 2026
Events
7
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 |
|---|---|---|---|
| O•••••• S•••••••• L•••••• C••• | $9.47M | 88¢ | 0 pts |
| O•••••• S•••••••• C••••• F••• | $4.51M | 88¢ | 0 pts |
Every BDC piece · 12 positions across 2 lenderslargest principal first, with instrument and rate
| BDC | Instrument | Principal | Fair value | Rate |
|---|---|---|---|---|
| O•••••• S•••••••• L•••••• C••• | term loan first lien F•••• L••• T••• L••• 2 | $6.7M | $5.9M 88c | PIK 13.00% |
| O•••••• S•••••••• C••••• F••• | term loan first lien F•••• L••• T••• L••• 1 | $3.2M | $2.8M 88c | PIK 13.00% |
| O•••••• S•••••••• L•••••• C••• | term loan first lien F•••• L••• T••• L••• 1 | $2.8M | $2.4M 87c | PIK 13.00% |
| O•••••• S•••••••• C••••• F••• | term loan first lien F•••• L••• T••• L••• 2 | $1.3M | $1.2M 87c | PIK 13.00% |
| O•••••• S•••••••• L•••••• C••• | warrants equity W••••••• 1 | Not disclosed | $1,000 0c |
View all 12 positionsShow fewerlargest principal first
| BDC | Instrument | Principal | Fair value | Rate |
|---|---|---|---|---|
| O•••••• S•••••••• L•••••• C••• | equity equity C••••• S•••• | Not disclosed | $215,000 | |
| O•••••• S•••••••• L•••••• C••• | warrants equity W••••••• 2 | Not disclosed | $0 | |
| O•••••• S•••••••• L•••••• C••• | unstated lien unstated | Not disclosed | Not disclosed | |
| O•••••• S•••••••• C••••• F••• | warrants equity W••••••• 1 | Not disclosed | $0 0c | |
| O•••••• S•••••••• C••••• F••• | unstated lien unstated | Not disclosed | Not disclosed | |
| O•••••• S•••••••• C••••• F••• | equity equity C••••• S•••• | Not disclosed | $102,000 | |
| O•••••• S•••••••• C••••• F••• | warrants equity W••••••• 2 | Not disclosed | $0 |
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 $14.0M | 88c | PIK 13.00% | Apr 19, 2027 | 2 |
| first lien delayed draw term loan first lien exited Dec 31, 2022 | at least $0 | n/a | 8.00% PIK 2.25% | unstated | 1 |
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 | 2 | $14.0M | $12.2M | 88c | 4 |
| Mar 31, 2026 | 2 | $14.4M | $12.6M | 88c | 0 |
| Dec 31, 2025 | 2 | $15.5M | $13.6M | 88c | 0 |
| Sep 30, 2025 | 2 | $20.6M | $18.0M | 88c | 0 |
All 16 quartersShow fewer
| Quarter end | BDCs | Principal held | Fair value | On cost | PIK pieces |
|---|---|---|---|---|---|
| Jun 30, 2025 | 2 | $15.5M | $13.6M | 88c | 8 |
| Mar 31, 2025 | 2 | $15.2M | $13.3M | 88c | 8 |
| Dec 31, 2024 | 2 | $14.8M | $12.8M | 88c | 10 |
| Sep 30, 2024 | 2 | $14.8M | $13.1M | 90c | 4 |
| Jun 30, 2024 | 2 | $14.6M | $13.0M | 91c | 4 |
| Mar 31, 2024 | 2 | $14.4M | $13.4M | 95c | 4 |
| Dec 31, 2023 | 2 | $14.2M | $13.2M | 95c | 6 |
| Sep 30, 2023 | 2 | $14.9M | $13.9M | 95c | 6 |
| Jun 30, 2023 | 2 | $14.7M | $13.9M | 97c | 6 |
| Mar 31, 2023 | 2 | $14.4M | $13.8M | 98c | 6 |
| Dec 31, 2022 | 1 | $7.8M | $7.5M | 98c | 2 |
| Sep 30, 2022 | 2 | $19.9M | $19.3M | 100c | 0 |
What changed
- Maturity approachingApr 19, 2027
- PIK interest appearsJun 30, 2026
- PIK interest appearsJun 30, 2026
- PIK interest appearsJun 30, 2026
- PIK interest increasedDec 31, 2024
Full timeline · 17 eventsShow fewer
- PIK interest increasedDec 31, 2024
- PIK interest increasedDec 31, 2024
- PIK interest increasedMar 31, 2024
- PIK interest increasedMar 31, 2024
- PIK interest increasedMar 31, 2024
- Maturity shortened (observed)Dec 31, 2023
- Maturity shortened (observed)Dec 31, 2023
- PIK interest appearsMar 31, 2023
- PIK interest appearsDec 31, 2022
- PIK interest appearsDec 31, 2022
- Facility left every BDC scheduleDec 31, 2022
- New borrower on a BDC scheduleSep 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
- B•••••• T•••••••••derivedthe codename stem after legal suffixes and deal words
- Spellings
- 1 across 2 BDCsderived
- Industry
- Pharmaceuticalsreportedas one filer wrote it