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
C•••• G•••••• I•• first lien term loan
first lienheld todayLife Sciences Tools & Services
Principal held
at least $216M
sum of BDC pieces, a lower bound
Fair value
$172M
81c on cost
Unfunded
n/a
pieces' unfunded commitments
Pricing
SOFR+625 bp
floor 1.00%
PIK
9.92%
paid in kind, the highest piece
Maturity
Dec 6, 2029
tagged by the filer
Lenders
1 holding
4 exited · 0 named on a deal
On the tape
15 quarters
Dec 31, 2022 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 |
|---|---|---|---|---|---|
| A••• S•••••••• I••••• F••• A••• CAPITAL MANAGEMENT LLC | exited | $32.0M | $30.4M 99c | 375 bp | Mar 31, 2023 to Dec 31, 2024 |
| N•••• H•••• P•••••• I••••• F••• L•• MS CAPITAL PARTNERS ADVISER INC. | exited | $6.8M | $6.5M 95c | 375 bp | Dec 31, 2024 to Dec 31, 2024 |
| P••••• S••••• C•••••• B•• I••• PALMER SQUARE BDC ADVISOR LLC | exited | $4.8M | $4.6M 96c | 375 bp | Dec 31, 2023 to Dec 31, 2024 |
| B•••••••• P•••••• C••••• F••• BLACKROCK CAPITAL INVESTMENT ADVISORS, LLC | exited | $997,111 | $956,085 97c | 375 bp | Dec 31, 2022 to Dec 31, 2024 |
| A••••• D••• S•••••••• B•• APOLLO CREDIT MANAGEMENT, LLC | held · 2 pieces | $216M | $172M 81c | 625 bp | Mar 31, 2024 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 | 1 | $216M | 81c | 625 bp | 9.92% | Dec 6, 2029 |
| Mar 31, 2026 | 1 | $207M | 92c | 300 bp | 3.25% | Dec 6, 2029 |
| Dec 31, 2025 | 1 | $410M | 99c | 300 bp | 3.25% | Dec 6, 2029 |
| Sep 30, 2025 | 1 | $203M | 100c | 625 bp | 3.25% | Dec 6, 2029 |
| Jun 30, 2025 | 1 | $202M | 100c | 300 bp | 3.25% | Dec 6, 2029 |
| Mar 31, 2025 | 1 | $200M | 100c | 625 bp | Dec 6, 2029 | |
| Dec 31, 2024 | 5 | $126M | 99c | 375 bp | Aug 30, 2026 | |
| Sep 30, 2024 | 4 | $82.8M | 100c | 375 bp | Aug 30, 2026 | |
| Jun 30, 2024 | 3 | $42.8M | 99c | 385 bp | Aug 30, 2026 | |
| Mar 31, 2024 | 3 | $19.7M | 100c | 385 bp | Aug 30, 2026 | |
| Dec 31, 2023 | 2 | $6.3M | 91c | 375 bp | Aug 30, 2026 | |
| Sep 30, 2023 | 1 | $1.5M | 86c | 385 bp | Aug 30, 2026 | |
| Jun 30, 2023 | 1 | $1.5M | 89c | 375 bp | Aug 30, 2026 | |
| Mar 31, 2023 | 2 | $2.3M | 91c | 375 bp | Aug 30, 2026 | |
| Dec 31, 2022 | 1 | $1.5M | 85c | 375 bp | Aug 30, 2026 |
What changed on this facility
position and facility grain, including routine
- PIK interest increased Jun 30, 2026C•••• G•••••• I•• term loan: PIK interest rose from 3.25% to 9.92%
- Spread changed (observed) Jun 30, 2026C•••• G•••••• I•• term loan: spread moved from 3.00% to 6.25%
- Marked down across lenders Jun 30, 2026C•••• G•••••• I•• term loan: marked from 92 to 81 cents on cost across 1 lender(s)
- Marked down across lenders Mar 31, 2026C•••• G•••••• I•• term loan: marked from 99 to 92 cents on cost across 1 lender(s)
- Spread changed (observed) Dec 31, 2025C•••• G•••••• I•• term loan: spread moved from 6.25% to 3.00%
- Spread changed (observed) Sep 30, 2025C•••• G•••••• I•• term loan: spread moved from 3.00% to 6.25%
- PIK interest appears Jun 30, 2025C•••• G•••••• I•• term loan: PIK interest of 3.25% appears (was cash pay)
- Spread changed (observed) Jun 30, 2025C•••• G•••••• I•• term loan: spread moved from 6.25% to 3.00%
- Maturity extended (observed) Mar 31, 2025C•••• G•••••• I•• term loan: maturity moved from 2026-08-30 to 2029-12-06
- Spread changed (observed) Mar 31, 2025C•••• G•••••• I•• term loan: spread moved from 3.75% to 6.25%
- Lender left a facility Dec 31, 2024A••• S•••••••• I••••• F••• no longer holds C•••• G•••••• I•• term loan after 2024-12-31; 1 BDC(s) still hold it
- Lender left a facility Dec 31, 2024N•••• H•••• P•••••• I••••• F••• L•• no longer holds C•••• G•••••• I•• term loan after 2024-12-31; 1 BDC(s) still hold it
- New lender joined a facility Dec 31, 2024N•••• H•••• P•••••• I••••• F••• L•• joins C•••• G•••••• I•• term loan (first lien) held by 4 other BDCs
- Lender left a facility Dec 31, 2024P••••• S••••• C•••••• B•• I••• no longer holds C•••• G•••••• I•• term loan after 2024-12-31; 1 BDC(s) still hold it
- Lender left a facility Dec 31, 2024B•••••••• P•••••• C••••• F••• no longer holds C•••• G•••••• I•• term loan after 2024-12-31; 1 BDC(s) still hold it
- Spread changed (observed) Sep 30, 2024C•••• G•••••• I•• term loan: spread moved from 0.38% to 3.75%
- Spread changed (observed) Jun 30, 2024C•••• G•••••• I•• term loan: spread moved from 3.85% to 0.38%
- New lender joined a facility Mar 31, 2024A••••• D••• S•••••••• B•• joins C•••• G•••••• I•• term loan (first lien) held by 3 other BDCs
- Mark recovered Mar 31, 2024C•••• G•••••• I•• term loan: marked from 91 to 100 cents on cost
- Mark recovered Dec 31, 2023C•••• G•••••• I•• term loan: marked from 86 to 91 cents on cost
- New lender joined a facility Mar 31, 2023A••• S•••••••• I••••• F••• joins C•••• G•••••• I•• term loan (first lien) held by 1 other BDC
- Mark recovered Mar 31, 2023C•••• G•••••• I•• term loan: marked from 85 to 91 cents on cost
Other pieces of this borrower's structure
- at least $100M
- at least $10.3M
- revolverexited Dec 31, 2025unknown
How this facility is known
- Grain
- C•••• G•••••• 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
- Status
- unknownsignalnon-accrual, default and restructuring are not on this tape and are never inferred from a mark
- Origin
- bdc tapereported