Medley Management reports IVQ 2018 results one third of the way into 2019. We review to gain insights into how the proposed merger with Medley Capital and Sierra Income might be affected.
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.
A retailer files for bankruptcy protection as expected and 4 BDCs face the music of loss of income and likely much higher Realized and Unrealized losses while adding more monies.
September 19, 2016: OHAI, PNNT, Sierra Income