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Stellus Capital : New Baby Bond Offering- Premium

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Continuing a recent trend another BDC refinances its existing Baby Bond with…another Baby Bond. But cheaper. Stellus Capital has come to market with a new bond issue. We review the key details and analyze the implications for common stock shareholders and note holders alike.

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Great Elm Corporation: IIQ 2017 Results

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The BDC News O The Day reviews Great Elm Corporation’s IIQ 2017 results. Besides analyzing the latest data, the BDC Reporter discusses the promise of a new Baby Bond and discusses our past, current and future investment strategy in the BDC’s stock and bonds.

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KCAP Financial: Issues New Notes

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KCAP Financial is re-making itself. After announcing the spin off of most of its assets into a new JV, the BDC is raising new unsecured debt. We review both the details of the new Baby Bonds as well as how this capital fits into the changing picture at this under-performing BDC which has been stuck in the sector’s basement for years. Both common stock and Baby Bond investors will want to take a new look, but definitive answers are hard to come by.

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OHA Investment: IIQ 2017 Results-Premium

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BDC News Of The Day reports on OHA Investment’s latest results and lowest ever stock price after reviewing the earnings release, presentation, Conference Call transcript and 10-Q. Not a pretty picture for any of the parties involved and little apparent investment opportunity, even for investors who like to close their eyes and jump.

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BDC Market Recap: Week Ended August 11, 2017

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A not-very-good week for BDC common stocks as a group, but there does appear to be a rational underpinning which we discuss along with numerous specific names. Things are different in Baby Bonds, but there was a dramatic new development during the week which we touch on.

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Capitala Finance: Credit Troubles

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In the middle of a run-of-the-mill BDC earnings season, Capitala Finance trips up on the credit front. We take some time to delve into the Q and the portfolio to identify the problems, the slivers of good news and share our outlook.

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Apollo Investment: IIQ 2017 Preview

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The BDC Reporter – in the absence of much news in the hours before the onslaught of earnings season – previews issues to consider when Apollo Investment reports. The BDC will be looking forward, but investors may want to look both ways.

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