DFX Intelligence
Private Credit Intelligence
The capital structure graph behind private markets. Who lent, to whom, under which sponsor, through which facility, how large the piece was, when it matures and what changed, with a filing behind every number. A BDC piece is that BDC's piece, a sum of pieces is a lower bound, and a sponsor is named with the evidence that names it.
Borrower
Spruce Bidco II Inc
Health Care Equipmentgroup grade Aon a schedule nowsponsor unattributed
Also written as: Health Care Equipment; Spruce Bidco I Inc., LLC
Principal held
at least $741M
sum of BDC pieces, a lower bound
Fair value
$732M
100c on cost, debt pieces
Unfunded
$105M
commitments not yet drawn
BDC lenders
10
9 on the latest quarter
Facilities
3
0 equity pieces beside them
Next maturity
Jan 1, 2032
no dated debt inside 24 months
On the tape since
Sep 30, 2024
latest Jun 30, 2026
Events
1
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 $427M | 100c | S+500 bp | Jan 30, 2032 | 7 |
| first lien revolver first lien | at least $314M | 100c | S+475 bp | Jan 31, 2032 | 9 |
| other lien unstated | unknown | n/a | unstated | 8 |
Lenders
every BDC piece at the latest quarter end
| BDC | Instrument | Principal | Fair value | Rate |
|---|---|---|---|---|
| ARES CAPITAL CORP | unstated lien unstated | n/a | n/a | |
| ARES CAPITAL CORP | revolver first lien First lien senior secured revolving loan | $19.7M | $19.7M 100c | S+475 bp |
| ARES CAPITAL CORP | term loan first lien First lien senior secured loan 2 | $24.8M | $24.8M 96c | S+500 bp |
| ARES CAPITAL CORP | term loan first lien First lien senior secured loan 1 | $7.4M | $7.4M 103c | S+475 bp |
| ARES CAPITAL CORP | term loan first lien First lien senior secured loan 3 | $25.5M | $25.5M 100c | S+475 bp |
| ARES STRATEGIC INCOME FUND | term loan first lien First lien senior secured loan 2 | $12.9M | $12.9M 97c | S+500 bp |
| ARES STRATEGIC INCOME FUND | term loan first lien First lien senior secured loan 3 | $13.8M | $13.8M 104c | S+475 bp |
| ARES STRATEGIC INCOME FUND | term loan first lien First lien senior secured loan 1 | $96.9M | $96.9M 101c | S+475 bp |
| ARES STRATEGIC INCOME FUND | unstated lien unstated | n/a | n/a | |
| ARES STRATEGIC INCOME FUND | revolver first lien First lien senior secured revolving loan | $9.6M | $9.6M 104c | S+475 bp |
| HPS Corporate Capital Solutions Fund | unstated lien unstated | n/a | n/a | |
| HPS Corporate Capital Solutions Fund | revolver first lien Non-Affiliated Issuer | $4.5M | $1.7M 99c | S+475 bp |
| HPS Corporate Capital Solutions Fund | revolver first lien Non-Affiliated Issuer | n/a | $2.3M 95c | S+500 bp |
| HPS Corporate Capital Solutions Fund | revolver first lien Non-Affiliated Issuer | $3.5M | $2.4M 102c | S+475 bp |
| HPS Corporate Capital Solutions Fund | revolver first lien Non-Affiliated Issuer | $944,000 | $929,000 100c | S+573 bp |
| HPS Corporate Capital Solutions Fund | revolver first lien Non-Affiliated Issuer | $15.4M | $15.2M 100c | S+475 bp |
| HPS Corporate Lending Fund | revolver first lien Non-Affiliated Issuer | $43.9M | $16.4M 99c | S+475 bp |
| HPS Corporate Lending Fund | revolver first lien Non-Affiliated Issuer | $34.6M | $24.0M 102c | S+475 bp |
| HPS Corporate Lending Fund | revolver first lien 1st Lien Senior Secured Revolving Loan | n/a | n/a | |
| HPS Corporate Lending Fund | revolver first lien Non-Affiliated Issuer | $163M | $160M 100c | S+475 bp |
| HPS Corporate Lending Fund | revolver first lien Non-Affiliated Issuer | n/a | $22.4M 95c | S+500 bp |
| HPS Corporate Lending Fund | revolver first lien Non-Affiliated Issuer | $944,000 | $929,000 100c | S+573 bp |
| Jefferies Credit Partners BDC Inc. | revolver first lien Investment Type First Lien Revolver | n/a | $-0 | |
| Oaktree Gardens OLP, LLC | revolver first lien First Lien Revolver | $4.5M | $4.4M 101c | S+475 bp |
| Oaktree Gardens OLP, LLC | unstated lien unstated | n/a | n/a | |
| Oaktree Gardens OLP, LLC | term loan first lien First Lien Term Loan 1 | $51.1M | $50.7M 100c | S+475 bp |
| Oaktree Gardens OLP, LLC | term loan first lien First Lien Term Loan 2 | n/a | $6.0M 96c | S+500 bp |
| Oaktree Gardens OLP, LLC | term loan first lien First Lien Term Loan 3 | $9.3M | $6.5M 102c | S+475 bp |
| Oaktree Specialty Lending Corp | term loan first lien First Lien Term Loan 3 | n/a | $4.8M 96c | S+500 bp |
| Oaktree Specialty Lending Corp | term loan first lien First Lien Term Loan 2 | $7.4M | $5.2M 102c | S+475 bp |
| Oaktree Specialty Lending Corp | revolver first lien First Lien Revolver | $3.6M | $3.5M 101c | S+475 bp |
| Oaktree Specialty Lending Corp | unstated lien unstated | n/a | n/a | |
| Oaktree Specialty Lending Corp | term loan first lien First Lien Term Loan 1 | $40.7M | $40.4M 100c | S+475 bp |
| Oaktree Strategic Credit Fund | term loan first lien First Lien Term Loan 2 | $21.0M | $14.6M 102c | S+475 bp |
| Oaktree Strategic Credit Fund | term loan first lien First Lien Term Loan 3 | n/a | $13.7M 96c | S+500 bp |
| Oaktree Strategic Credit Fund | term loan first lien First Lien Term Loan 1 | $116M | $115M 100c | S+475 bp |
| Oaktree Strategic Credit Fund | unstated lien unstated | n/a | n/a | |
| Oaktree Strategic Credit Fund | revolver first lien First Lien Revolver | $10.2M | $10.0M 101c | S+475 bp |
| Senior Credit Investments, LLC | revolver first lien Investment Type First Lien Revolver | n/a | $0 |
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 | 9 | $741M | $732M | 100c | 0 |
| Mar 31, 2026 | 9 | $586M | $609M | 101c | 0 |
| Dec 31, 2025 | 9 | $869M | $848M | 101c | 0 |
| Sep 30, 2025 | 9 | $983M | $964M | 101c | 0 |
| Jun 30, 2025 | 9 | $927M | $900M | 101c | 0 |
| Mar 31, 2025 | 10 | $923M | $891M | 100c | 0 |
| Sep 30, 2024 | 3 | $0 | $0 | n/a | 0 |
What changed
- Spread increasedJun 30, 2026
- Lender left a facilityMar 31, 2026
- New lender joined a facilityMar 31, 2026
- New lender joined a facilityMar 31, 2026
- Lender left a facilityMar 31, 2026
- Lender left a facilityMar 31, 2026
- New lender joined a facilityDec 31, 2025
- Spread increasedSep 30, 2025
- Spread increasedSep 30, 2025
- New lender joined a facilityMar 31, 2025
- New lender joined a facilityMar 31, 2025
- New lender joined a facilityMar 31, 2025
- New lender joined a facilityMar 31, 2025
- Lender left a facilityMar 31, 2025
- New lender joined a facilityMar 31, 2025
- New borrower on a BDC scheduleSep 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
- SPRUCEderivedthe codename stem after legal suffixes and deal words
- Spellings
- 2 across 10 BDCsderived
- Industry
- Health Care Equipmentreportedas one filer wrote it