November ended badly for the markets and the BDC sector. There was good dividend news from one BDC and a surprising secured facility repayment at another.
After a big drop on Covid variant worries on Friday, Monday saw the major indices – and the BDC sector – regain some lost ground. Also, yet another public Baby bond gets (partly) redeemed; a venture debt player breaks a record and a large cap BDC reports results.
The leading venture-debt BDC arranges a new Revolver. We discuss why this is important for the BDC, the venture-debt segment and investors.
The major indices were all up in price on Thursday. So was the BDC sector, ending up just below record levels. Plus, two new BDCs reported earnings, another raised 10 year unsecured debt and another for 5 years while a third player quietly launched a new joint venture. Busy days.
For a second day in a row, the BDC sector failed to follow the major indices upward. Also, BDC earnings season begins with high expectations and three BDCs do not disappoint. There’s other news besides on a busy day for BDCs.
Most of the major indices – and the BDC sector – continue to move upward, closing in or breaking records.Plus, a huge dividend is announced and a secondary offering launched by two mid-sized BDCs.
The major indices were mixed and the BDC sector was flat on the opening day of the last week of September. The only news came out of two well regarded venture lending BDCs.
The major indices – and BDC sector prices – were mixed on Monday. On the news front, a leading venture debt player raised a substantial amount of debt at a very low rate. We discuss the implications , both in the short term and long term.
The first day of the business week did not go well for the BDC sector. We discuss the details. Also, we review new investments by a popular BDC; new unsecured debt planned by a venture-debt behemoth and new equity raised by a pint sized player.
This was a consequential week that included the month end and the beginning of earnings season. Nonetheless, BDC sector prices barely budged. We discuss why there’s a strong possibility that might change shortly.
The BDC sector price dropped on the day, but possibly for a technical reason that we discuss. Also, the leading venture debt lender announced enviable results and another BDC dishes about a new add-ion investment.
Hercules Capital announces IIIQ 2021 distributions. We compare the likely payout for 2021 with 2020 and 2019 and wonder about 2022.
Nothing much happened on Monday to BDC common stock prices. However, there were a few news developments for the BDC Reporter to discuss.
In a “deja vu all over again” day, BDC prices reach yet another record high. Plus, a troubled borrower gets some breathing room and a leading BDC has a new investment focus.
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.
