The BDC sector followed – at a distance – the move upward by the major indices. That’s all well and good, but there are a couple of dark clouds on the horizon which may rain on this parade in the near-future.
We annotate the press release by NexPoint Capital after losing a key shareholder vote at Medley Capital and list out the many uncertainties remaining before the fate of the BDC will be known.
As the risk-free rate drops to new lows, existing BDC debt holders are not benefiting. In fact, we worry about what the week ahead – if the current trends continue – might bring. We also update BDC Fixed Income news and the Fixed Income Table.
The BDC sector joined the broader market rout, ending the 5 month long BDC rally. Besides the battle over tariffs, there are other threats to the sector, as we discuss.
As risk-free rates drop, BDC Fixed Income does not act as one might have expected. Plus, Medley Capital’s debt slumps.
The BDC Reporter reviews the recommendation by two proxy advisory firms about who to favor in the upcoming vote for Medley Capital’s Board and offers its own suggestion.
With little happening to BDC Fixed Income, we mull over what might go wrong at Medley Capital that could be instructive for all debt holders.
The BDC Fixed Income market reaches a new notable level. However, the market faces a historic default for the first time…
Dissident shareholder FrontFour agrees a term sheet with Medley Capital and gets to appoint two directors to the Board. The BDC Reporter dissects the press release announcing this dramatic twist in the Medley story.
Two more lawsuits come to light in the Medley merger battle that could drastically affect the outcome but which are not getting much in the way of attention except in the BDC Reporter.
A well known coal company emerges from Chapter 11 owned by its creditors, which seems to include three BDCs with approximately $60mn of debt now converted to equity.