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.
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Facility
I•••••• I•• first lien term loan
first lienheld todayPharmaceuticals & Life Sciences Rate P+7.50%, 1.00% Floor (0.25% PIK)sponsor E•• C••••••• L•• inferred
Principal held
at least $61.0M
sum of BDC pieces, a lower bound
Fair value
$49.2M
94c on cost
Unfunded
n/a
pieces' unfunded commitments
Pricing
SOFR+1150 bp
pieces from 750 bp to 1150 bp
PIK
11.50%
paid in kind, the highest piece
Maturity
Nov 5, 2026
tagged by the filer
Lenders
2 holding
0 exited · 0 named on a deal
On the tape
17 quarters
Dec 31, 2021 to Jun 30, 2026
Lender group
every BDC that holds or held a piece; each row is that lender's own figures
| Lender | Status | Principal | Fair value | Spread | Held |
|---|---|---|---|---|---|
| R•••••• E••••••• I••••• F•••• L• REDWOOD CAPITAL MANAGEMENT, LLC | dormant | $11.8M | $9.7M 83c | 650 bp | Dec 31, 2022 to Sep 30, 2025 |
| C••• I••••••••• C••• C••• INVESTMENT MANAGEMENT, LLC | held · 4 pieces | $39.5M | $35.3M 110c | 1150 bp | Dec 31, 2021 to Jun 30, 2026 |
| S••••• P•••• S•••••••• L•••••• F••• S••••• P•••• S•••••••• Credit Fund Management, LLC | held · 2 pieces | $21.5M | $13.9M 70c | 1150 bp | Dec 31, 2022 to Jun 30, 2026 |
Facility through time
pieces summed per quarter end across the BDCs holding it
| Quarter end | BDCs | Principal held | On cost | Spread | PIK | Maturity |
|---|---|---|---|---|---|---|
| Jun 30, 2026 | 2 | $61.0M | 94c | 750 bp | 11.50% | Nov 5, 2026 |
| Mar 31, 2026 | 2 | $36.1M | 84c | 650 bp | 0.25% | Nov 5, 2026 |
| Dec 31, 2025 | 2 | $77.1M | 87c | 675 bp | 0.25% | Nov 5, 2026 |
| Sep 30, 2025 | 3 | $49.4M | 86c | 850 bp | 0.25% | Nov 5, 2026 |
| Jun 30, 2025 | 3 | $48.2M | 86c | 675 bp | 0.25% | Nov 5, 2026 |
| Mar 31, 2025 | 3 | $48.7M | 86c | 650 bp | 0.25% | Nov 5, 2026 |
| Dec 31, 2024 | 3 | $93.5M | 91c | 650 bp | 0.25% | Nov 5, 2026 |
| Sep 30, 2024 | 3 | $44.3M | 90c | 675 bp | 0.25% | Nov 5, 2026 |
| Jun 30, 2024 | 3 | $44.4M | 95c | 650 bp | 0.25% | Nov 5, 2026 |
| Mar 31, 2024 | 3 | $44.8M | 98c | 675 bp | 0.25% | Nov 5, 2026 |
| Dec 31, 2023 | 3 | $44.9M | 98c | 675 bp | 0.25% | Nov 5, 2026 |
| Sep 30, 2023 | 2 | $28.3M | 97c | 675 bp | 0.25% | Nov 5, 2026 |
| Jun 30, 2023 | 2 | $28.3M | 97c | 675 bp | 0.25% | Nov 5, 2026 |
| Mar 31, 2023 | 2 | $28.3M | 98c | 625 bp | Nov 5, 2026 | |
| Dec 31, 2022 | 3 | $45.0M | 97c | 625 bp | Nov 5, 2026 | |
| Sep 30, 2022 | 1 | $16.4M | 98c | 625 bp | Nov 5, 2026 | |
| Dec 31, 2021 | 1 | $12.0M | 101c | 62500 bp | Nov 5, 2026 |
What changed on this facility
position and facility grain, including routine
- Maturity approaching Nov 5, 2026I•••••• I•• term loan (first lien) matures 2026-11-05 (inside 12 months; $39.5M held by 2 BDCs)
- Maturity approaching Nov 5, 2026I•••••• I•• term loan (first lien) matures 2026-11-05 (inside 18 months; $39.5M held by 2 BDCs)
- Maturity approaching Nov 5, 2026I•••••• I•• term loan (first lien) matures 2026-11-05 (inside 24 months; $39.5M held by 2 BDCs)
- PIK interest increased Jun 30, 2026I•••••• I•• term loan: PIK interest rose from 0.25% to 11.50%
- Mark recovered Jun 30, 2026I•••••• I•• term loan: marked from 88 to 110 cents on cost
- Spread changed (observed) Jun 30, 2026I•••••• I•• term loan: spread moved from 6.50% to 7.50%
- Spread changed (observed) Dec 31, 2025I•••••• I•• term loan: spread moved from 8.50% to 6.75%
- Spread changed (observed) Sep 30, 2025I•••••• I•• term loan: spread moved from 6.86% to 8.50%
- Marked down across lenders Mar 31, 2025I•••••• I•• term loan: marked from 93 to 87 cents on cost across 2 lender(s)
- Spread changed (observed) Mar 31, 2024I•••••• I•• term loan: spread moved from 6.50% to 7.01%
- Spread changed (observed) Jun 30, 2023I•••••• I•• term loan: spread moved from 6.25% to 6.75%
- PIK interest appears Jun 30, 2023I•••••• I•• term loan: PIK interest of 0.25% appears (was cash pay)
- New lender joined a facility Dec 31, 2022S••••• P•••• S•••••••• L•••••• F••• joins I•••••• I•• term loan (first lien) held by 2 other BDCs
- Spread changed (observed) Sep 30, 2022I•••••• I•• term loan: spread moved from 625.00% to 6.25%
Other pieces of this borrower's structure
- first lien revolverexited Mar 31, 2026at least $1.2M
- n/a
- equityexited Mar 31, 2026$3,973
How this facility is known
- Grain
- I•••••• I•• x first lien term loanderivedborrower group x kind x lien; tranches with different maturities sit under it
- Size
- lower bound: sum of BDC piecesderived
- Sponsor basis
- Form D signer consensus, grade Bestimated
- Status
- unknownsignalnon-accrual, default and restructuring are not on this tape and are never inferred from a mark
- Origin
- bdc tapereported