Email us with questions or comments: nmarshi.bdcreporter@gmail.com           α

Why Fifth Street Finance Is Overvalued

Premium Free

The BDC Reporter takes a “deep dive” into Fifth Street Finance’s financial performance and outlook to determine if the recent run-up in the stock price on the back of Oaktree Capital’s impending arrival as Investment Advisor is justified by the fundamentals.

Read More

Fifth Street Companies: Loan Agreements Amended

Premium Free

Fifth Street Finance and Fifth Street Senior Floating Rate have both received waivers and amendments from their lenders as part of the transition to a new Investment Advisor and a revised strategy and business model under Oaktree Capital. We discuss the details and discuss how to invest in this fast evolving situation.

Read More

Why Fifth Street Senior Floating Is Over Valued

Premium Free

The BDC Reporter is skeptical that the increase in Fifth Street Senior Floating Rate’s stock price is sustainable, despite a big run-up in recent days and an apparent long way to go before getting back to book. We give 5 reasons why we doubt that the BDC’s stock price can remain at the current level for too much longer.

Read More

Fifth Street Senior Floating: Preliminary Proxy Filed

Premium Free

Shortly after agreeing on a sale of its management contracts to Oaktree Capital, Fifth Street Asset Management has caused Fifth Street Senior Floating to issue a preliminary Proxy to get shareholder approval. The BDC News Of The Day has read the Proxy and brings readers the key details (including a few new facts not previously disclosed) and analyzes – where possible – what the impact might be on the BDC going forward. However, much remains unknown and unknowable…

Read More

BDC Market Recap: Week Ended July 14, 2017

Premium Free

The BDC Reporter recaps what’s been happening to BDC common stocks in the week, mentioning two obvious names and one which is not. We also review the latest trends in BDC Baby Bonds and offer up a (downbeat) projection for what might happen to prices for the next many months. We end by tying together what these two markets are telling us about investors sentiment right now.

Read More

Fifth Street Companies: Oaktree To Buy FSAM, Manage FSC and FSFR.

Premium Free

Finally. Fifth Street Asset Management has sold off its Investment Advisory contracts in Fifth Street Finance and Fifth Street Senior Floating to Oaktree Capital. We review the press release and SEC disclosure; point out what’s good and what might not be so good for the shareholders of the two BDCs involved and disclose our own investment approach following the Big Reveal.

Read More

Saratoga Investment: Earnings Results UPDATED

Premium Free

Yesterday, the BDC News O The Day provided an advance preview of the key issues facing Saratoga Investment in advance of its earnings release. Now the numbers are out and the BDC Reporter has updated our article with what we’ve found out and why the stock price might be dropping.

Read More

Golub Capital: Middle Market Borrower Trends

Premium Free

Golub Capital and Edward Altman publish their quarterly Index of middle market sales and “earnings”. We note the key data points and claims by the Index publishers and analyze the methodology to determine what this does – or does not – tell BDC investors.

Read More