DFX Intelligence
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Borrower
I••••••••• O••••••• N••••••• L••
Health Care Servicesgroup grade Aoff every schedule since Sep 30, 2024sponsor unattributed
Nothing material in the last 200 days. No dated change on record yet.
Mark path, consensus per quarter end
98¢ · 99¢ · 99¢ · 99¢ · 100¢Q3 2023 to Q3 2024
Where each lender marks it on the first lien term loan, 0 points apart
101¢101¢
Principal held
at least $36.7M
sum of BDC pieces, a lower bound
Fair value
$36.7M
100c on cost, debt pieces
Unfunded
Not disclosed
commitments not yet drawn
BDC lenders
3
3 on the latest quarter
Facilities
5
0 equity pieces beside them
Next maturity
Jun 24, 2025
$36.7M inside 24 months
On the tape since
Dec 31, 2021
latest Sep 30, 2024
Events
6
dated, non-routine
Lender marks
each lender's own fair value over cost at Sep 30, 2024, folded to one row per lender
| Lender | Exposure | Current mark | QoQ change |
|---|---|---|---|
| F••••••• P•••••• C••••• C• L•• | $17.4M | 100¢ | +1 pts |
| S•••••• C•••••• I••••••••• C••• | $17.2M | 100¢ | +1 pts |
| F••••••• P•••••• C••••• F••• | $2.09M | 101¢ | +1 pts |
Every BDC piece · 7 positions across 3 lenderslargest principal first, with instrument and rate
| BDC | Instrument | Principal | Fair value | Rate |
|---|---|---|---|---|
| S•••••• C•••••• I••••••••• C••• | term loan lien unstated T••• L••• Investment D••• J••• 17, 2019 | $15.6M | $15.6M 100c | //stelluscapital.com/20240930#Three Month Term Secured Overnight Financing Rate+600 bp |
| F••••••• P•••••• C••••• C• L•• | term loan first lien F•••• L••• D••• T••• L••• R•••••••• R••• and S••••• S••• + 6.00% I••••••• R••• 11.48% M••• | $13.7M | $13.7M 101c | S+600 bp |
| F••••••• P•••••• C••••• C• L•• | delayed draw term loan first lien F•••• L••• D••• D•••••• D••• T••• L••• R•••••••• R••• and S••••• S••• + 6.00% I••••••• R•• | $3.1M | $3.1M 100c | S+600 bp |
| F••••••• P•••••• C••••• F••• | term loan first lien F•••• L••• D••• T••• L••• S•••+6.00% I••••••• R••• 11.48% M••••••• D••• 6/24/2025 | $2.1M | $2.1M 101c | S+600 bp |
| S•••••• C•••••• I••••••••• C••• | term loan lien unstated T••• L••• Investment D••• N••••••• 1, 2021 | $1.1M | $1.1M 100c | //stelluscapital.com/20240930#Three Month Term Secured Overnight Financing Rate+600 bp |
View all 7 positionsShow fewerlargest principal first
| BDC | Instrument | Principal | Fair value | Rate |
|---|---|---|---|---|
| F••••••• P•••••• C••••• C• L•• | revolver first lien F•••• L••• D••• R•••••••• Credit F••••••• R•••••••• R••• and S••••• S••• + 6.00% I••••••• | $570,927 | $570,927 100c | S+600 bp |
| S•••••• C•••••• I••••••••• C••• | revolver lien unstated R••••••• | $553,517 | $553,517 100c | //stelluscapital.com/20240930#Three Month Term Secured Overnight Financing Rate+600 bp |
Capital structure as the BDCs see it
latest quarter end Sep 30, 2024
| Facility | Held | On cost | Pricing | Maturity | BDCs |
|---|---|---|---|---|---|
| term loan lien unstated exited Sep 30, 2024 | at least $16.6M | 100c | //stelluscapital.com/20240930#Three Month Term Secured Overnight Financing Rate+600 bp | Jun 24, 2025 | 1 |
| first lien term loan first lien exited Sep 30, 2024 | at least $15.8M | 101c | S+600 bp | Jun 24, 2025 | 2 |
| first lien delayed draw term loan first lien exited Sep 30, 2024 | at least $3.1M | 100c | S+600 bp | Jun 24, 2025 | 1 |
| first lien revolver first lien exited Sep 30, 2024 | at least $570,927 | 100c | S+600 bp | Jun 24, 2025 | 1 |
| revolver lien unstated exited Sep 30, 2024 | at least $553,517 | 100c | //stelluscapital.com/20240930#Three Month Term Secured Overnight Financing Rate+600 bp | Jun 24, 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 |
|---|---|---|---|---|---|
| Sep 30, 2024 | 3 | $36.7M | $36.7M | 100c | 0 |
| Jun 30, 2024 | 3 | $20.1M | $35.3M | 99c | 0 |
| Mar 31, 2024 | 2 | $34.8M | $34.3M | 99c | 0 |
| Dec 31, 2023 | 2 | $33.8M | $34.2M | 99c | 0 |
All 10 quartersShow fewer
| Quarter end | BDCs | Principal held | Fair value | On cost | PIK pieces |
|---|---|---|---|---|---|
| Sep 30, 2023 | 2 | $34.3M | $33.9M | 98c | 0 |
| Jun 30, 2023 | 2 | $34.9M | $34.2M | 99c | 0 |
| Mar 31, 2023 | 1 | $16.9M | $16.5M | 98c | 0 |
| Dec 31, 2022 | 2 | $51.2M | $50.2M | 99c | 0 |
| Sep 30, 2022 | 1 | $17.0M | $0 | n/a | 0 |
| Dec 31, 2021 | 1 | $16.0M | $17.1M | 101c | 0 |
What changed
- Facility left every BDC scheduleSep 30, 2024
- Facility left every BDC scheduleSep 30, 2024
- Facility left every BDC scheduleSep 30, 2024
- Facility left every BDC scheduleSep 30, 2024
- Facility left every BDC scheduleSep 30, 2024
Full timeline · 8 eventsShow fewer
- New lender joined a facilityJun 30, 2024
- Mark recoveredDec 31, 2023
- 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
- I••••••••• O••••••• N••••••derivedthe codename stem after legal suffixes and deal words
- Spellings
- 1 across 3 BDCsderived
- Industry
- Health Care Servicesreportedas one filer wrote it