A very quiet week for BDC Fixed Income prices but two BDCs surprise with debt buybacks. In the future, though, the BDC Reporter expects much more issuance and redemption activity.
Prospect Capital is buying back its debt. The BDC Reporter has a look at the move in light of the BDC’s broader liability management challenges and with both debt and common stock investors in mind.
BDC Fixed Income prices do nothing very surprising on the week. However, the BDC Reporter is startled by Prospect Capital’s newest Baby Bond offering and its implications for the BDC debt market more generally.
The BDC common stock rally edges forward in a quiet week for the sector. What BDC shareholders decide in the weeks ahead may change the momentum.
Prospect Capital is tapping the public market for unsecured debt. Here are early details, analysis and the BDC Reporter’s initial speculations, plus an update.
The BDC Common stock rally hangs in there for another week. The BDC Reporter – in a thoughtful mood – looks backwards and forwards at both stock prices and credit risk.
As forewarned earlier in the week, BDC common stocks are in rally mode, and may go higher. The BDC Reporter, though, looks a little further out…
BDC Fixed Income prices did not move much on the week, but the outlook for the entire sector for years to come shifted dramatically.
A watershed week for the BDC Sector, but not for the usual reasons.
An uneventful week where BDC Fixed Income prices are concerned. The BDC Reporter, though, has been musing about debt, risk and frogs.
Like in “Jaws’, the surface of BDC Fixed Income market seems calm. Underneath the surface, though, new dangers lurk. Some Note Holders might be wishing they had brought a bigger boat.
In a week with much back and forth about BDC leverage stock prices head modestly higher. We discuss trends, highlight an unexpected Biggest Loser and discuss the impact of the new law.
S&P speaks up about the new BDC leverage rules, expressing concern. Will the credit raters keep BDCs from borrowing to the hilt. If not the rating groups, then who ? We discuss the options and look into a glass. Darkly.
Rates go down, BDC Fixed Income goes nowhere. However, the new leverage rules already have two prospective issuer candidates, which raises questions about what happens next.
The BDC Sector had a decent week and good month, especially when compared with the major indices. Are BDC stocks headed for a rally after a year in the doldrums ?
