The markets continue to bounce around- dropping again on Thursday and bringing the BDC sector along. Two BDCs reported results and provided updated credit metrics. BDC earnings season is all but over.
The major indices dropped again. This time the BDC sector followed, but remains close to its highest levels. Outside of Main Street’s IVQ 2021 update – covered in a separate article – there were two credit developments worth knowing about.
Cion Investment receives permission to leverage up its balance sheet. We analyze what that might mean for future earnings and what’s standing in the way.
The major indices had a rip roaring day but the BDC sector only moved up marginally. There was little news to report except a special dividend from a new BDC and a new deal announcement.
The BDC Reporter pens the second part of its primer on newly public Cion Investment Corporation. We dive into future leverage expectations and changes in compensation arrangements with the advisor. However, there’s still much we don’t yet know.
The BDC Reporter – in the first part of a two part series – provides a primer on the latest BDC to go public: Cion Investment Corporation.
The major indices were all in the black on Tuesday, and the BDC sector largely followed along. There was big news in the form of a BDC going public; outstanding earnings from an existing mid-sized player and yet another low yielding issuance of unsecured debt.
We re-publish a post from the BDC Credit Reporter regarding the latest bankruptcy filing of a BDC-financed company, and review the implications for the public and non-listed BDC lenders involved.
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.