Most indices – and the BDC sector – moved up marginally in price on Monday. Elsewhere, a BDC tried and failed – again – to buy back its expensive debt. Also, we share two new troubled companies written about in the BDC Credit Reporter.
The markets move up for a second cday, with the BDC sector following some way behind. We review several BDC news items – none very important – and have a mouthful to say about the credit outlook for the lower middle market.
All the major indices were in the red, including the BDC sector – just less so. At long last, a smaller BDC published its 10-K, officially ending BDC earnings season. Also one large cap BDC added new lenders and another made a presentation at a (virtual) conference.
The rally in everything – including BDC prices – marches on. Also, two BDCs report results, including NAV Per Share trends headed in different directions and another unsecured debt offering gets closed.
All major indices – and the BDC sector – moved up in price on Monday. Some records were broken. There was news about an expected reverse stock issuance for a small BDC and lowered financing costs at a major player. We also synthesize several studies to discuss the outlook for leveraged lending, partly leaning on data in the BDC Credit Table.
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.
This was a historic day as two huge BDCs merged. We review some of the implications for the sector and the shareholders involved. Overall BDC stock prices returned to their winning ways after a one day hiatus.
BDC fixed income prices barely moved this week and there was no news about any public issuer, but we still needed to amend our list of Baby Bonds likely to be redeemed. We explain why.
While BDC common stocks marched on, fixed income prices stayed stable. However, there were a couple of price moves that deserve mention in a week with no other developments.
Not much changed in BDC Fixed Income prices during the week, but there were a series of comings and goings that continues to reshape the sector. Watch out ! There’s more to come.
BDC stock prices resumed their ascent after a one day pause. We highlight interesting information in Capital Southwest’s conference call and provide details about Ares Capital’s latest debt offering and some other minor items.
There were many developments in the BDC Fixed Income sector during the week that changed the landscape and outlook.