First few days of 2020 for the BDC sector, whose rally seems to be in neutral. Most of the news developments in the period were on the credit front.
The late-in-the-year BDC sector rally continues judging by most of the numbers, but the BDC Reporter remains skeptical of investor enthusiasm. Unavoidably with only two weeks to go, we begin to look ahead to price, dividend and leverage levels in the year ahead.
We review price developments and new issuance in the BDC Fixed Income segment for the week ended October 25, 2019.
Oaktree Specialty Lending – which recently lost its CEO – had a mixture of positive and negative results in the second quarter 2019, and much remains to be done two years after the new manager took over.
We share highlights from the BDC Credit Reporter’s compilation for the week of developments amongst under-performing portfolio companies, naming the BDCs and the amounts involved.
A BDC portfolio company receives an injection of new capital, which should accelerate growth plans.
A famous discount retailer gets restructured and three BDCs with more than $50mn of exposure are involved. We re-publish our post from the BDC Reporter and discuss both the credit issues and the valuations involved.
Here are some of the latest developments amongst under-performing BDC companies since our last report filed April 22, 2019
Two BDCs hit 52 week highs. We review the price action, the underlying causes and assess the longer term outlook.
Moody’s has named the 17 top candidates amongst retail names to file bankruptcy in 2019. The BDC Reporter analyzes how BDC lenders might fare if the worst comes to pass.
A rural telecom company files Chapter 11. We review BDC exposure and potential impact on income and book value.
The week ahead promises to be jam packed, with the challenge to the Medley merger center stage. But not let’s forget the flurry of earnings releases from ten BDCs and week seven of the market rally.
Contradictory data about the direction of the BDC common sector, but the trend seems more to the downside than the upside.
Nothing lasts forever, specially BDC common stocks upward momentum. This week, the sector dropped back. Harbinger or brief pause ?
BDC Fixed Income prices drop along with about everything else as rates rise. However, we look beyond to the changes being wrought by BDC enthusiasm for the Small Business Credit Availability Act. This could go any number of ways.
