We discuss a record-breaking week for BDC Fixed Income and the continuing shift in who’s financing the BDC unsecured debt pile.
The broad market indices bobbed around in the week and the BDC sector followed suit. We discuss two BDCs that did well, and four that did not and project out how the rest of the year is likely to play out.
Second quarter 2019 BDC quarterly results summarized for Apollo Investment, which were mixed. Third in a new series.
Second quarter 2019 BDC quarterly results summarized for Carlyle’s TCG BDC. Second in a new series and part of a new Earnings Table soon to be added to our Subscriber Tools as soon as the season of reporting comes to a close.
We extract the key elements from the text of Gladstone Investment’s transcript of its annual shareholder meeting for shareholders interested in keeping up with the latest developments.
The BDC Reporter extracts two key items from Solar Senior Capital’s just published 34 page Proxy filing.
The BDC Reporter reviews in great detail the credit performance and outlook of Medley Capital following the publication of the second quarter results. The value of the portfolio is a critical element of the two different transactions currently being weighed by the BDC.
A BDC portfolio company is being acquired and two BDCs with warrants are likely to book a healthy gain.
We review the details of the just proposed merger of Alcentra Capital into soon-to-be public Crescent Capital BDC; discuss what the combined entity might look like and what it’s credit challenges and financial performance might look like going forward. And much more.
We reprint a post from our sister publication about a major BDC portfolio company that’s mulling a Chapter 11 filing, and the implications for the three BDCs involved.
BDC quarterly results summarized, starting with Alcentra Capital. First in a new series and part of a new Earnings Table soon to be added to our Subscriber Tools.
The BDC Fixed Income segment had another good week, with one notable exception where Medley Capital is concerned. We explain why the troubled BDC – and its debt holders – are not out of the woods yet.
The BDC sector followed the major indices down. And then up again. However, the second week of BDC earnings season was not an unalloyed success and future market direction is in question.
Once again, the BDC Reporter annotates the conference call of a BDC, one of our most popular features. In this case, we add analysis and commentary to Monroe Capital’s second quarter 2019 transcript.
The BDC Reporter shares some concerns – which may prove overblown – about Capitala Finance’s relationship with the SBA following a major realized loss in the second quarter of 2019.
Fidus Investment had to cope with a major credit set-back in the second quarter. However, the BDC Reporter’s credit outlook for the lower middle market BDC may surprise you.
The risk free rate hits a new low but BDC Fixed Income prices remain unmoved. We discuss market prices; credit ratings past and future and close with a three year chart.
A bad week for the major stock market indices affected the BDC sector just beginning its earnings season, but has anything essential changed ?
Taking a deep breath after the first week of BDC earnings season, the BDC Reporter tracks back to highlight the most material developments we’ve identified amongst the BDCs that have reported. We begin with BlackRock Capital, freshly off a dividend cut.
We compare the BDC Reporter’s Earnings Preview for Oxford Square against the actual IIQ 2019 results and note a couple of material surprises that might affect book value, earnings and the distribution in the quarters to come.
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