Nothing to report on the BDC Fixed Income price front and only two minor debt raising developments. The big changes in this market remain in the (not so distant) feature.
Nothing lasts forever, specially BDC common stocks upward momentum. This week, the sector dropped back. Harbinger or brief pause ?
The shareholders of Goldman Sachs BDC say yes to both higher leverage and a lower Management Fee. Historic turning point for BDC compensation or outlier ?
New Mountain Finance joins TCG BDC in gaining shareholder approval for higher leverage but only makes the BDC Reporter and investors uncomfortable.
Capital Southwest makes a point about its Supplemental Dividend, which only confirms the BDC Reporter’s Dividend Outlook.
Saratoga Investment reaches new highs.
Capital Southwest is seeking to raise more unsecured debt shortly after embracing a revised version of the new leverage rules. Is this the beginning of a trend in BDC Fixed Income ? We have a view.
How long till the next recession ?
A very quiet week for BDC Fixed Income prices but two BDCs surprise with debt buybacks. In the future, though, the BDC Reporter expects much more issuance and redemption activity.
Another good week for the BDC Sector and most of its constituents, as the rally marches on. We discuss myriad metrics and look at the length of the runway.
Capital Southwest changes its dividend policy, requiring the BDC Reporter to take a fresh look at the BDC’s Dividend Outlook for the next 12 months.
TCG BDC is first to receive shareholder approval to leverage up. The BDC Reporter is first to dive into the numbers and calculate what will be the impact on both Investment Advisor and shareholders over time. Get a stiff drink and settle in.
Prospect Capital is buying back its debt. The BDC Reporter has a look at the move in light of the BDC’s broader liability management challenges and with both debt and common stock investors in mind.
Medley Capital reaches a new All Time Low. The BDC Reporter briefly reviews the situation as part of our Stock Watch feature.
Just a few months after becoming the first BDC to issue Baby Bonds in Israel, Medley Capital seeks to buy (some) back.
The BDC Reporter’s Dividend Outlook makes the right call for the twelfth time in 2018. We also look at how the 6 BDC Dividend Raisers are performing.
Newtek Business Services is at a 13 year high. We speculate as to why this stock is up 17% in a month.
Triangle Capital is down to the final strokes of selling its assets and becoming externally advised. We review the Proxy, highlighting both what’s commendable and what less so before shareholders vote.
BDC Fixed Income prices do nothing very surprising on the week. However, the BDC Reporter is startled by Prospect Capital’s newest Baby Bond offering and its implications for the BDC debt market more generally.
The BDC common stock rally edges forward in a quiet week for the sector. What BDC shareholders decide in the weeks ahead may change the momentum.
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