Gladstone Capital prices its latest Term Preferred and surprises us on both amount raised and yield. (This is a follow-up on a September 19 article).
Gladstone Capital about to tap the Term Preferred market for a third time with significant implications for its earnings and balance sheet.
We update and revisit OHA Capital shortly after the stock price dropped to an all-time low, but is now shooting up…
A new Baby Bond surprises and an e-mail change option for all subscribers, amongst other issues.
KCAP Financial makes a surprise move.
BDC common stocks pause and Baby Bonds welcome a new issue.
What does Prospect Capital’s Proxy tell us about the prospect for future earnings and distributions. In a roundabout way, a great deal, as we show.
Taxi medallion prices on the move,two large popular BDCs slip in price while a minnow shoots up.
Most of Wednesday September 13, 2017 was devoted to investigating a huge new BDC coming to the public markets. There’s other news besides in our daily summary.
Facts, figures and a few opinions about a very large non-traded BDC, with a famous name attached, about to come to the public market.
MVC Capital reports, OHA Investment jumps, Medallion Financial sags and we revisit Capitala Finance’s troubles for all readers.
MVC Capital reports a higher NAV and a jump in earnings. Why is the BDC Reporter so unimpressed ?
The BDC Reporter updates an article written August 9 regarding Capitala Finance’s credit performance in the IIQ 2017 that caused the stock price to drop as much as 35%.
Medley Capital downshifts, Alcentra Capital slips and Capitala Finance climbs back. Plus a new, faster way to search.
Is Medley Capital’s amendment of its bank debt a positive or a negative for the troubled BDC ?
BDC Common Stocks head further south, Baby Bonds stay put.
In recent days and weeks, Great Elm Corporation (GECC) has been preparing to both issue new unsecured notes and sell a large number of insider owned common shares. The BDC Reporter provides the details and analyzes what the impact might be on the BDC’s balance sheet, earnings and market confidence. We also spell out our own investment approach to both the common stock and unsecured debt.
On September 7, 2017 Fifth Street Finance (FSC) and Fifth Street Senior Floating Rate (FSFR) announced the results of the shareholder vote regarding the transfer of their Investment Advisory Agreements from an affiliate of Fifth Street Asset Management (FSAM) to Oaktree Capital Management, a subsidiary of Oaktree Capital Group, LLC. Here are the key details, and what the implications are for the shareholders of both BDCs. One last time, the BDC Reporter gives it’s views on why we’re not either cheered or cheering.
On September 6, 2017 after the close, CM Finance (CMFN) announced the results of its fiscal fourth quarter and full year ended June 30 2017 in a press release, and filed a 10-K. The BDC Reporter has read both documents. Here are the highlights, as well as analysis of the earnings and portfolio, and the BDC Reporter’s view of where the BDC is headed in the coming year, and our own investment approach.
As part of the premium subscription service, the BDC Reporter has compiled a list of all the different BDC Baby Bonds, their tickers, terms and yields. Moreover, we’ve added our assessment of whether early redemption will occur on a name-by-name basis. A critical survey tool for any investor in BDC fixed income.
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