DFX Intelligence
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Borrower
D••••••••• L••
Air Freight & Logisticsgroup grade Aon a schedule nowsponsor not established · possible relationship
Also written as: Dispatch Track, LLC
What matters now
- $9.85Mprincipal outstanding
$9.85M principal held by 1 lender; matures Dec 2026.
Q2 2026 · Refinancing is due in 3 months at a 100¢ mark.
FactBDC schedules of investments, 30 Jun 2026; a sum of the BDCs' pieces, a lower bound
Mark path, consensus per quarter end
100¢ · 100¢ · 100¢ · 100¢ · 100¢Q2 2025 to Q2 2026
Principal held
at least $9.8M
sum of BDC pieces, a lower bound
Fair value
$9.8M
100c on cost, debt pieces
Unfunded
Not disclosed
commitments not yet drawn
BDC lenders
1
1 on the latest quarter
Facilities
2
0 equity pieces beside them
Next maturity
Dec 17, 2026
$9.8M inside 24 months
On the tape since
Dec 31, 2022
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 |
|---|---|---|---|
| A• P•••••• C••••• I•••••••• C••• | $9.85M | 100¢ | 0 pts |
Every BDC piece · 2 positions across 1 lenderlargest principal first, with instrument and rate
| BDC | Instrument | Principal | Fair value | Rate |
|---|---|---|---|---|
| A• P•••••• C••••• I•••••••• C••• | term loan first lien US C•••••••• D••• | 1st L•••/S••••• S•••••• D••• | T••• L••• | 8.24% (S + 4.50%; 1.00% F•• | $9.8M | $9.8M 100c | SOFR+450 bp |
| A• P•••••• C••••• I•••••••• C••• | revolver first lien US C•••••••• D••• | 1st L•••/S••••• S•••••• D••• | R••••••• | 12/17/2026 | $0 | $0 0c | SOFR+450 bp |
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 $9.8M | 100c | SOFR+450 bp | Dec 17, 2026 | 1 |
| first lien revolver first lien | at least $0 | n/a | SOFR+450 bp | Dec 17, 2026 | 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 | $9.8M | $9.8M | 100c | 0 |
| Mar 31, 2026 | 1 | $9.8M | $9.8M | 100c | 0 |
| Dec 31, 2025 | 1 | $19.7M | $19.7M | 100c | 0 |
| Sep 30, 2025 | 1 | $9.8M | $9.8M | 100c | 0 |
All 13 quartersShow fewer
| Quarter end | BDCs | Principal held | Fair value | On cost | PIK pieces |
|---|---|---|---|---|---|
| Jun 30, 2025 | 1 | $9.8M | $9.8M | 100c | 0 |
| Mar 31, 2025 | 1 | $9.8M | $9.8M | 100c | 0 |
| Dec 31, 2024 | 1 | $9.8M | $9.8M | 101c | 0 |
| Sep 30, 2024 | 1 | $9.8M | $9.8M | 100c | 0 |
| Jun 30, 2024 | 1 | $9.8M | $9.8M | 100c | 0 |
| Mar 31, 2024 | 1 | $9.8M | $9.8M | 100c | 0 |
| Dec 31, 2023 | 1 | $9.8M | $2.7M | 28c | 0 |
| Sep 30, 2023 | 1 | $9.8M | $9.8M | 100c | 0 |
| Dec 31, 2022 | 1 | $19.7M | $19.5M | 100c | 0 |
What changed
- Maturity approachingDec 17, 2026
- Maturity approachingDec 17, 2026
- Maturity approachingDec 17, 2026
- Marked down (one lender)Dec 31, 2023
Sponsor
Possible relationship, not established: S••••••• E•••••, because a company of this name is on the sponsor's portfolio page (confidence 0.55). No deal announcement or filing names it as a party, so it is not shown as this borrower’s sponsor.
- S••••••• E•••••
- the sponsor's own portfolio page lists a company of this nameestimatedspectrumequity.com"••• Locked"
Identity
- Group key
- DISPATCH TRACKderivedthe codename stem after legal suffixes and deal words
- Spellings
- 2 across 1 BDCderived
- Industry
- Air Freight & Logisticsreportedas one filer wrote it