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
Medrina, LLC
Health Care Servicesgroup grade Aon a schedule nowsponsor unattributed
Also written as: LLC Second Amendment
Principal held
at least $27.4M
sum of BDC pieces, a lower bound
Fair value
$29.8M
100c on cost, debt pieces
Unfunded
$1.5M
commitments not yet drawn
BDC lenders
7
7 on the latest quarter
Facilities
4
0 equity pieces beside them
Next maturity
Oct 20, 2029
no dated debt inside 24 months
On the tape since
Dec 31, 2023
latest Jun 30, 2026
Events
7
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 $15.3M | 100c | SOFR+600 bp | Oct 31, 2029 | 7 |
| other lien unstated | at least $7.2M | 101c | SOFR+600 bp | Oct 31, 2029 | 2 |
| first lien delayed draw term loan first lien | at least $4.9M | 100c | SOFR+600 bp | Oct 20, 2029 | 4 |
| first lien revolver first lien | at least $0 | n/a | SOFR+600 bp | Oct 20, 2029 | 4 |
Lenders
every BDC piece at the latest quarter end
| BDC | Instrument | Principal | Fair value | Rate |
|---|---|---|---|---|
| First Eagle Private Credit Fund | revolver first lien Revolver) Region United States Reference Rate and Spread S + 6.00% Interest Rate Floor 1.0 | n/a | n/a n/a | SOFR+600 bp |
| First Eagle Private Credit Fund | delayed draw term loan first lien Delayed Draw) Region United States Reference Rate and Spread S + 6.00% Interest Rate Floor | $1.3M | $1.3M 100c | SOFR+600 bp |
| First Eagle Private Credit Fund | unstated lien unstated Reference Rate and Spread S + 6.00% Interest Rate Floor 1.00% Interest Rate 9.66% Maturity | $7.2M | $7.2M 101c | SOFR+600 bp |
| First Eagle Private Credit Fund | revolver first lien Revolver Commitment Expiration Date 10/20/2029 | n/a | n/a | |
| Hancock Park Corporate Income, Inc. | term loan first lien First Lien Debt Industry All Other Outpatient Care Centers IR 9.66% Spread Above Index SOF | $726,064 | $726,064 101c | SOFR+600 bp |
| Hancock Park Corporate Income, Inc. | term loan first lien First Lien Debt Industry All Other Outpatient Care Centers IR 9.63% Spread Above Index SOF | $121,862 | $121,862 101c | SOFR+600 bp |
| Hancock Park Corporate Income, Inc. | revolver first lien First Lien Debt (Revolver) | n/a | n/a | |
| Hancock Park Corporate Income, Inc. | revolver first lien First Lien Debt (Revolver) Industry All Other Outpatient Care Centers Spread Above Index S | $0 | $0 0c | SOFR+600 bp |
| OFS Capital Corp | revolver first lien First Lien Debt (Revolver) | n/a | n/a | |
| SLR HC BDC LLC | term loan first lien Bank Debt/Senior Secured Loans | 10/2023 | 10/2029 | $794,000 | $794,000 102c | SOFR+600 bp |
| SLR Investment Corp. | unstated lien unstated 10/2029 | n/a | $2.7M 102c | SOFR+600 bp |
| SLR Private Credit BDC II LLC | term loan first lien Bank Debt/Senior Secured Loans — 233.6% | 10/2023 | 10/2029 | $632,000 | $632,000 102c | 9.63% |
| Stepstone Private Credit Fund LLC | term loan first lien Term Loan Facility | NCNA Debt Inv. | First Lien Senior Secured Loan | 10/20/2029 | $380,000 | $375,000 100c | SOFR+600 bp |
| Stepstone Private Credit Fund LLC | term loan first lien Term Loan | NCNA Debt Inv. | First Lien Senior Secured Loan | 10/20/2029 | $4.5M | $4.4M 100c | SOFR+600 bp |
| Stepstone Private Credit Fund LLC | delayed draw term loan first lien Delayed Draw Term Loan Facility | NCNA Debt Inv. | First Lien Senior Secured Loan | 10/20/ | $609,000 | $609,000 102c | SOFR+600 bp |
| Stepstone Private Credit Fund LLC | delayed draw term loan first lien Delayed Draw Term Loan | NCNA Debt Inv. | First Lien Senior Secured Loan | 10/20/2029 | $3.0M | $2.9M 100c | SOFR+600 bp |
| Stepstone Private Credit Fund LLC | revolver first lien Revolving Facility | NCNA Debt Inv. | First Lien Senior Secured Loan | 10/20/2029 | $0 | $0 0c | SOFR+50 bp |
| Stepstone Private Credit Fund LLC | term loan first lien Term Loan | NCNA Debt Inv. | First Lien Senior Secured Loan | 10/20/2029 One | $4.9M | $4.9M 100c | SOFR+600 bp |
| Stepstone Private Credit Fund LLC | term loan first lien Term Loan Facility | NCNA Debt Inv. | First Lien Senior Secured Loan | 10/20/2029 One | $3.3M | $3.2M 100c | SOFR+600 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 | 7 | $27.4M | $27.1M | 100c | 0 |
| Mar 31, 2026 | 7 | $24.6M | $24.3M | 100c | 0 |
| Dec 31, 2025 | 7 | $43.6M | $43.1M | 101c | 0 |
| Sep 30, 2025 | 7 | $17.6M | $17.6M | 101c | 0 |
| Jun 30, 2025 | 7 | $17.7M | $17.7M | 102c | 0 |
| Mar 31, 2025 | 7 | $17.7M | $17.7M | 102c | 0 |
| Dec 31, 2024 | 7 | $41.3M | $41.2M | 102c | 0 |
| Sep 30, 2024 | 7 | $15.2M | $15.2M | 102c | 0 |
| Jun 30, 2024 | 7 | $15.2M | $15.1M | 101c | 0 |
| Mar 31, 2024 | 7 | $15.3M | $15.0M | 100c | 0 |
| Dec 31, 2023 | 7 | $36.2M | $35.2M | 100c | 0 |
What changed
- Spread changed (observed)Jun 30, 2026
- Spread changed (observed)Mar 31, 2026
- Lender left a facilityDec 31, 2025
- Lender left a facilityMar 31, 2025
- Lender left a facilityMar 31, 2025
- Lender left a facilityMar 31, 2025
- New lender joined a facilityDec 31, 2024
- Spread increasedSep 30, 2024
- Spread increasedSep 30, 2024
- Spread changed (observed)Sep 30, 2024
- Spread changed (observed)Sep 30, 2024
- Spread changed (observed)Jun 30, 2024
- Spread changed (observed)Jun 30, 2024
- Spread increasedMar 31, 2024
- Spread increasedMar 31, 2024
- New borrower on a BDC scheduleDec 31, 2023
- Lender left a facilityDec 31, 2023
Sponsor
No sponsor attribution: no portfolio page, deal announcement or Form D signer consensus names an owner for this borrower group.
Identity
- Group key
- MEDRINAderivedthe codename stem after legal suffixes and deal words
- Spellings
- 1 across 7 BDCsderived
- Industry
- Health Care Servicesreportedas one filer wrote it