DFX Intelligence
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Borrower
M••••••••• T••••••••• I••
Transportation, Logistics & Supply Chaingroup grade Aon a schedule nowsponsor not established · possible relationship
Nothing material in the last 200 days. No dated change on record yet.
Mark path, consensus per quarter end
101¢ · 102¢ · 100¢ · 100¢ · 100¢Q2 2025 to Q2 2026
Where each lender marks it, 1 points apart
99¢100¢
Principal held
at least $111M
sum of BDC pieces, a lower bound
Fair value
$123M
100c on cost, debt pieces
Unfunded
Not disclosed
commitments not yet drawn
BDC lenders
11
11 on the latest quarter
Facilities
2
3 equity pieces beside them
Next maturity
Oct 20, 2032
no dated debt inside 24 months
On the tape since
Dec 31, 2022
latest Jun 30, 2026
Events
2
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 |
|---|---|---|---|
| V•••• C••••• S•••••••• L•••••• C•••• | $74.6M | 100¢ | 0 pts |
| S•••• P•••• C••••• C••• | $15.9M | 100¢ | 0 pts |
| P••••• S••••• C•••••• B•• I••• | $7.46M | 99¢ | -1 pts |
| S•••• P•••• C••••• I••••• F••• | $7.39M | 100¢ | 0 pts |
| S••••• P•••• S•••••••• L•••••• F••• | $2.33M | 99¢ | -1 pts |
View all 8 lendersShow fewerlargest exposure first
| Lender | Exposure | Current mark | QoQ change |
|---|---|---|---|
| N•••• H•••• P•••••• I••••• F••• A• L•• | $995K | 99¢ | 0 pts |
| A• P•••••• L•••••• F••• | $995K | 99¢ | -1 pts |
| B••••••••• P•••••• C••••• F••• | $902K | 100¢ | 0 pts |
Every BDC piece · 16 positions across 11 lenderslargest principal first, with instrument and rate
| BDC | Instrument | Principal | Fair value | Rate |
|---|---|---|---|---|
| V•••• C••••• S•••••••• L•••••• C•••• | term loan first lien F••••••••• D••• R•••••••• R••• and S••••• S••• + 5.25% I••••••• R••• 8.92% M••••••• D••• 1 | $74.6M | $73.6M 100c | SOFR+525 bp |
| S•••• P•••• C••••• C••• | term loan first lien F•••• L••• T••• L•••, Due 11/3/2032 | $15.9M | $15.7M 100c | SOFR+525 bp |
| P••••• S••••• C•••••• B•• I••• | term loan first lien Investment F•••• L••• S••••• S•••••• L••• I••••••• R••• 8.92% (S + 5.25%) M••••••• D••• 11 | $7.5M | $7.4M 99c | SOFR+525 bp |
| S•••• P•••• C••••• I••••• F••• | term loan first lien F•••• L••• T••• L••• | $7.4M | $7.3M 100c | S+525 bp |
| S••••• P•••• S•••••••• L•••••• F••• | term loan first lien 1st L•••/S•••••• L•••• I••••••••• 1st L••• T••• L••• I••••••• C••••••• Services R••• S+5.2 | $2.3M | $2.3M 99c | SOFR+525 bp |
View all 16 positionsShow fewerlargest principal first
| BDC | Instrument | Principal | Fair value | Rate |
|---|---|---|---|---|
| A• P•••••• L•••••• F••• | term loan first lien US C•••••••• D••• | 1st L•••/S••••• S•••••• D••• | T••• L••• | 8.90% (S + 5.25%) | 11/3/20 | $995,000 | $976,762 99c | SOFR+525 bp |
| N•••• H•••• P•••••• I••••• F••• A• L•• | term loan first lien Investment F•••• L••• D••• R•••••••• R••• and S••••• S + 5.25% I••••••• R••• 8.92% M•••••• | $995,000 | $977,000 99c | SOFR+525 bp |
| B••••••••• P•••••• C••••• F••• | unstated lien unstated | $902,000 | $889,000 100c | S+525 bp |
| M•• I••••••••• C•••• | preferred equity equity P•••••••• Equity W•••••• M••••••• D••• 5/16/2034 | Not disclosed | $1.9M 1003c | |
| M•• I••••••••• C•••• | preferred equity equity P•••••••• Equity C•••• D P•••••••• S•••• I••••••• R••• 17.50% PIK M••••••• D••• 5/16/2034 | Not disclosed | $778,000 100c | |
| M•• I••••••••• C•••• | preferred equity equity P•••••••• Equity C•••• B P•••••••• S•••• I••••••• R••• 17.50% PIK M••••••• D••• 5/16/2034 | Not disclosed | $8.8M 103c | PIK 17.50% |
| T••••••••• P•••••• V•••••• C••••• I••• | warrants equity C••••• S•••• | W•••••• Investments | Not disclosed | $62,000 2067c | |
| T••••••••• V•••••• G••••• B•• C•••• | warrants equity C••••• S•••• | W•••••• Investments | Not disclosed | $1.6M 1795c | |
| V•••• C••••• S•••••••• L•••••• C•••• | equity equity Equity M••••••• D••• 5/16/2034 | Not disclosed | $302,000 1510c | |
| V•••• C••••• S•••••••• L•••••• C•••• | preferred equity equity P•••••••• Equity | Not disclosed | $359,000 101c | |
| V•••• C••••• S•••••••• L•••••• C•••• | preferred equity equity P•••••••• Equity I••••••• R••• 17.50% M••••••• D••• 5/16/2034 | Not disclosed | $480,000 105c | 17.50% |
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 $110M | 100c | SOFR+525 bp | Nov 3, 2032 | 8 |
| other lien unstated | at least $902,000 | 100c | S+525 bp | Nov 3, 2032 | 2 |
Equity pieces beside the debt: equity ($302,000 fair value, 1 BDC), preferred equity ($12.4M fair value, 2 BDCs), warrants ($1.6M fair value, 3 BDCs)
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 | 11 | $111M | $109M | 100c | 0 |
| Mar 31, 2026 | 11 | $111M | $110M | 100c | 0 |
| Dec 31, 2025 | 11 | $119M | $118M | 100c | 0 |
| Sep 30, 2025 | 4 | $140M | $140M | 102c | 0 |
All 14 quartersShow fewer
| Quarter end | BDCs | Principal held | Fair value | On cost | PIK pieces |
|---|---|---|---|---|---|
| Jun 30, 2025 | 4 | $140M | $139M | 101c | 0 |
| Mar 31, 2025 | 3 | $140M | $139M | 101c | 0 |
| Dec 31, 2024 | 4 | $172M | $170M | 100c | 0 |
| Sep 30, 2024 | 3 | $141M | $139M | 100c | 0 |
| Jun 30, 2024 | 3 | $15.9M | $15.6M | 100c | 0 |
| Mar 31, 2024 | 1 | $1.2M | $1.3M | 107c | 1 |
| Dec 31, 2023 | 1 | $1.1M | $1.2M | 101c | 1 |
| Jun 30, 2023 | 1 | $0 | $0 | n/a | 0 |
| Mar 31, 2023 | 1 | $0 | $0 | n/a | 0 |
| Dec 31, 2022 | 1 | $1.0M | $1.0M | 100c | 1 |
What changed
- Spread changed (observed)Dec 31, 2025
- Maturity extended (observed)Dec 31, 2025
- New lender joined a facilityDec 31, 2025
- New lender joined a facilityDec 31, 2025
- New lender joined a facilityDec 31, 2025
Full timeline · 12 eventsShow fewer
- New lender joined a facilityDec 31, 2025
- New lender joined a facilityDec 31, 2025
- New lender joined a facilityDec 31, 2025
- Maturity extended (observed)Dec 31, 2025
- Lender left a facilitySep 30, 2025
- New lender joined a facilitySep 30, 2024
- Lender left a facilityMar 31, 2024
Sponsor
Possible relationship, not established: F•• C••••••, because a company of this name is on the sponsor's portfolio page (confidence 0.7). No deal announcement or filing names it as a party, so it is not shown as this borrower’s sponsor.
- F•• C••••••
- the sponsor's own portfolio page lists a company of this nameestimatedfin.capital"••• Locked"
Identity
- Group key
- M••••••••• T•••••••••derivedthe codename stem after legal suffixes and deal words
- Spellings
- 1 across 11 BDCsderived
- Industry
- Transportation, Logistics & Supply Chainreportedas one filer wrote it