The BDC sector reaches new lows not seen in over ten years but bounces part of the way back. Is the worse over ? The BDC Reporter argues that we’ve only just begun, and explains why.
After the worst week for BDC prices in nearly ten years, the BDC Reporter summarizes what happened and what might be coming next. Not for the faint of heart but necessary reading.
The BDC Reporter re-publishes an article from Leveraged Commentary & Data about third quarter 2019 trends and uses the opportunity to discuss some of the fundamental changes going on before our eyes in how the sector does business.
A change at the helm of two Oaktree-managed BDCs with the departure of CEO Edgar Lee. We discuss the legacy of the last two years and the challenges facing Oaktree Strategic Income. This is Part I. In Part II, we’ll undertake a similar exercise for Oaktree Specialty Lending.
We share highlights from the BDC Credit Reporter’s compilation for the week of developments amongst under-performing portfolio companies, naming the BDCs and the amounts involved.
A famous discount retailer gets restructured and three BDCs with more than $50mn of exposure are involved. We re-publish our post from the BDC Reporter and discuss both the credit issues and the valuations involved.
The BDC Reporter annotates the Oaktree Strategic Income Conference Call transcript in our unique feature. We have a large number of comments, rhetorical questions and asides.
Oaktree Strategic Income repays one financing with a new one. All part of the BDC’s attempt to leverage up to a debt to equity of 1.6x, but there’s a long way to go and key questions remain unanswered.
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.