The Medley story adds another twist, with an unexpected switch to internal management beginning in the new year. We offer some analysis but no definitive answers.
Medley Capital divests itself of its largest single investment. We review the details and the implications for stock and debt holders.
A third week of dropping BDC sector prices as market confidence falters. We review the three biggest losers and one of the few weekly winners and also discuss an update from New Mountain Finance and a buyback at THL Credit. We end with the inevitable review of BDC credit trends.
The median price of the BDC Fixed Income issues we track dropped for a second week in a row. Nonetheless, other data suggests the public BDC debt sector is headed for expansion and higher prices.
“What goes up will come down” as BDC sector prices proved this week as volatility resumed. Also there were other notable developments including equity capital raised; a surprise dividend and important shareholder approvals. We also discuss the surprising change the size of the BDC sector is likely to take in the days and months ahead.
For a second week BDC common stock prices rally along with the broader indices. However, there’s a very long way for prices to go before returning to pre-Covid levels and multiple challenges ahead.
BDC common stock prices leapt upward in the week ended May 22, narrowing the loss since Covid-19 began. Will the price healing continue ? The BDC Reporter has doubts, which we explain at length.
BDC Fixed Income prices seemed to be headed in one direction just a fortnight ago, but now are moving in unexpected ways. We discuss both sector trends and the path of individual issues and what the future might hold, which is likely to be very different from the past.
With BDC IQ 2020 earnings season at an end, is the sector oversold after dropping twice as much as the S&P 500 ? The BDC Reporter discusses in detail why that might not be the case.
BDC Fixed Income prices drop slightly in the week. We discuss the challenges the weaker BDCs face and how that’s translating to the value of their debt.