Highlights from the last two days of BDC portfolio company news, and the possible impact on the multiple BDCs involved.
BDC Fixed Income moved up modestly in quiet week. However, changes are underway in how some BDC debt is rated which could have major implications.
Goldman Sachs BDC shareholders fail to play ball for a second time. We discuss the pros and cons of issuing shares below book and project what might happen next. We also discuss the touchy subject of compensation…
A short, but positive week for BDC common stocks. Looking forward to earnings season, the BDC Reporter sees more daylight ahead.
S&P downgrades two BDCs and gets kicked to the curb. We revisit the changing risk profile of the BDC sector through the prism of yet another fund that has adopted the new higher leverage rules. Worrying but important reading.
BDC Fixed Income prices soften, but probably for a transient reason. More importantly, the “leveraging up” of the BDC Sector begins with two new issues and the dynamics of the industry begin to change. One of those Good News/Bad news stories.
Nothing much happening in the foreground where BDC Fixed Income is concerned. In the background, though, the scene is being set for a huge expansion of the sector.
Just a routine story about Goldman Sachs BDC receiving an investment grade rating from Fitch, or a seminal moment in risk rating following the passage of the Small Business Credit Availability Act ?
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.
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 ?
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.
Goldman Sachs BDC is offering a big fee concession and asking shareholder approval to leverage up the balance sheet. We’ve done the numbers as best we can and come to a surprising conclusion.