DFX Intelligence
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Borrower
I••••••••• W••••••••• L••
Air Freight & Logisticsgroup grade Aon a schedule nowsponsor unattributed
Nothing material in the last 200 days. No dated change on record yet.
Mark path, consensus per quarter end
100¢ · 100¢ · 100¢ · 100¢ · 100¢Q2 2025 to Q2 2026
Principal held
at least $132M
sum of BDC pieces, a lower bound
Fair value
$132M
100c on cost, debt pieces
Unfunded
Not disclosed
commitments not yet drawn
BDC lenders
2
1 on the latest quarter
Facilities
3
0 equity pieces beside them
Next maturity
Dec 30, 2028
no dated debt inside 24 months
On the tape since
Jun 1, 2023
latest Jun 30, 2026
Events
3
dated, non-routine
Lender marks
each lender's own fair value over cost at Jun 30, 2026, folded to one row per lender
| Lender | Exposure | Current mark | QoQ change |
|---|---|---|---|
| P••••••• C•••••• C••• | $132M | 100¢ | 0 pts |
Every BDC piece · 4 positions across 1 lenderlargest principal first, with instrument and rate
| BDC | Instrument | Principal | Fair value | Rate |
|---|---|---|---|---|
| P••••••• C•••••• C••• | term loan second lien S••••• L••• T••• L••• | $95.0M | $95.0M 100c | S+850 bp |
| P••••••• C•••••• C••• | term loan first lien F•••• L••• T••• L••• | $31.4M | $31.4M 100c | S+550 bp |
| P••••••• C•••••• C••• | term loan first lien F•••• L••• T••• L•••• | $5.9M | $5.9M 101c | S+550 bp |
| P••••••• C•••••• C••• | term loan first lien F•••• L••• T••• L••• | Not disclosed | Not disclosed | S+550 bp |
Capital structure as the BDCs see it
latest quarter end Jun 30, 2026
| Facility | Held | On cost | Pricing | Maturity | BDCs |
|---|---|---|---|---|---|
| second lien term loan second lien | at least $95.0M | 100c | S+850 bp | unstated | 1 |
| first lien term loan first lien | at least $37.3M | 100c | S+550 bp | Dec 30, 2028 | 1 |
| first lien delayed draw term loan first lien exited Sep 30, 2024 | unknown | n/a | S+550 bp | unstated | 1 |
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 | 1 | $132M | $132M | 100c | 0 |
| Mar 31, 2026 | 1 | $132M | $132M | 100c | 0 |
| Dec 31, 2025 | 1 | $132M | $132M | 100c | 0 |
| Sep 30, 2025 | 2 | $135M | $135M | 100c | 0 |
All 10 quartersShow fewer
| Quarter end | BDCs | Principal held | Fair value | On cost | PIK pieces |
|---|---|---|---|---|---|
| Jun 30, 2025 | 2 | $274M | $274M | 100c | 0 |
| Mar 31, 2025 | 2 | $137M | $137M | 100c | 0 |
| Dec 31, 2024 | 2 | $137M | $137M | 100c | 0 |
| Sep 30, 2024 | 1 | $132M | $132M | 100c | 0 |
| Jun 30, 2024 | 1 | $126M | $121M | 96c | 0 |
| Jun 1, 2023 | 1 | $0 | $0 | n/a | 0 |
What changed
- Lender left a facilitySep 30, 2025
- New lender joined a facilityDec 31, 2024
- Mark recoveredSep 30, 2024
- Facility left every BDC scheduleSep 30, 2024
- New borrower on a BDC scheduleJun 1, 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
- I••••••••• W••••••••derivedthe codename stem after legal suffixes and deal words
- Spellings
- 1 across 2 BDCsderived
- Industry
- Air Freight & Logisticsreportedas one filer wrote it