In December, BDC Fixed Income prices rose even as the number of public issues dropped. We review the latest data and how this segment of the debt market has evolved since 2012 and what is likely to lie ahead.
The major indices slumped just before the close but the BDC sector stood steady. The BDC Reporter kept busy with the review of a new financing facility for a large cap BDC and further credit updates. Plus, we updated the BDC Fixed Income Table.
BDC prices inched a little higher. In terms of news, there were two encouraging earnings reports; another BDC raised new equity and a new Baby Bond made its official debut. We also added two new BDCs to our coverage.
Finally, the BDC sector breaks a 52 week price record. There’s plenty of other news including two earnings releases, an unexpected dividend increase and a planned new public debt issuance.
BDC prices have started the new week with a strong showing. In the news, a preferred offering and credit developments at several BDC portfolio companies worth knowing about. Some good news and some terrible.
A portfolio company of Medley Capital is involved in Operation Warp Speed. We discuss the possible implications for the BDC’s shareholders.