DFX Intelligence
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Borrower
B••••• I••
Transportation, Logistics & Supply Chaingroup grade Bon a schedule nowsponsor unattributed
What matters now
- 99¢ → 102¢consensus mark
Consensus mark 102¢ on cost, up from 99¢ in Q3 2025, 100¢ last quarter.
Q2 2026 · The lenders' own valuations moved back up.
Derived1 of 1 lender' own marks, weighted by principal
Mark path, consensus per quarter end
99¢ · 99¢ · 100¢ · 102¢Q3 2025 to Q2 2026
Principal held
at least $28.6M
sum of BDC pieces, a lower bound
Fair value
$29.4M
102c on cost, debt pieces
Unfunded
Not disclosed
commitments not yet drawn
BDC lenders
1
1 on the latest quarter
Facilities
2
1 equity pieces beside them
Next maturity
Aug 12, 2030
no dated debt inside 24 months
On the tape since
Sep 30, 2025
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 |
|---|---|---|---|
| V•••• C••••• S•••••••• L•••••• C•••• | $28.6M | 102¢ | +2 pts |
Every BDC piece · 2 positions across 1 lenderlargest 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••• + 9.00% I••••••• R••• 12.63% M••••••• D••• | $28.6M | $28.1M 102c | SOFR+900 bp |
| V•••• C••••• S•••••••• L•••••• C•••• | equity equity Equity M••••••• D••• 8/11/2030 | Not disclosed | $1.3M 97c |
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 $28.6M | 102c | SOFR+900 bp | Aug 12, 2030 | 1 |
| delayed draw term loan lien unstated exited Mar 31, 2026 | unknown | n/a | unstated | 1 |
Equity pieces beside the debt: equity ($1.3M fair value, 1 BDC)
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 | $28.6M | $28.1M | 102c | 0 |
| Mar 31, 2026 | 1 | $27.6M | $26.6M | 100c | 0 |
| Dec 31, 2025 | 1 | $27.3M | $26.1M | 99c | 0 |
| Sep 30, 2025 | 1 | $26.6M | $25.2M | 99c | 0 |
What changed
- Spread changed (observed)Jun 30, 2026
- Spread increasedJun 30, 2026
- Facility left every BDC scheduleMar 31, 2026
- New borrower on a BDC scheduleSep 30, 2025
Sponsor
No sponsor attribution: no portfolio page, deal announcement or Form D signer consensus names an owner for this borrower group.
Identity
- Group key
- BUSBUDderivedthe codename stem after legal suffixes and deal words
- Spellings
- 1 across 1 BDCderived
- Industry
- Transportation, Logistics & Supply Chainreportedas one filer wrote it