Mixed messages about the short term direction of the BDC Sector. The BDC Reporter, though, quantifies how drastically the shape of the sector will change in the next 2 years and which could yet cause BDC prices to shift.
Oaktree Strategic Income takes a step towards leveraging up its balance sheet by receiving a waiver of the 200% asset coverage from its lenders. We run the numbers, though, and are not convinced shareholders will benefit.
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 ?
Oaktree Strategic Income cuts its distribution – the second BDC this year just 6 weeks in. Are we done with the payout reductions at OCSI ?
Not a great week for BDC common stocks. We provide specific examples. BDC Fixed Income is different. We provide more specific examples.
With all but one BDC having reported earnings, there’s plenty going on in the BDC Sector. We offer insights into 7 different funds.
Before the open on Monday November 20, the BDC Reporter has a long laundry list of BDCs in its sights and for a host of reasons.
Another wild week in BDC common stocks after most earnings released. Fixed Income has some stories of its own.
3 Special Situation opportunities and 1 removal.
Fifth Street Finance and Fifth Street Senior Floating Rate announced the results of the shareholder vote regarding the transfer of their Investment Advisory Agreements to Oaktree Capital Management, a subsidiary of Oaktree Capital Group, LLC.
Busy…
The BDC Credit Reporter notes that a troubled security company in which 7 different BDCs have exposure has been sold to a familiar name. Good news, but more needs to be learned. BDC Exposure: $168mn.
BDC News Of The Day breaks with its regular procedures and provides details about two upcoming earnings releases: Fifth Street Finance and Fifth Street Senior Floating Rate. We explain why investors may want to mark the event in their calendars.
Fifth Street Finance and Fifth Street Senior Floating Rate have both received waivers and amendments from their lenders as part of the transition to a new Investment Advisor and a revised strategy and business model under Oaktree Capital. We discuss the details and discuss how to invest in this fast evolving situation.
The BDC Reporter is skeptical that the increase in Fifth Street Senior Floating Rate’s stock price is sustainable, despite a big run-up in recent days and an apparent long way to go before getting back to book. We give 5 reasons why we doubt that the BDC’s stock price can remain at the current level for too much longer.
