The BDC Reporter annotates FS KKR Capital’s IQ 2022 earnings conference call, as the BDC announces ever higher earnings and distributions. We discuss what could go right and wrong, especially if we face a recession before long.
The BDC Reporter re-visits the complexities of evaluating BDC investments with an illustrative example from a just announced portfolio company bankruptcy.
Both the major indices and the BDC sector disappointed on Monday. However, there was plenty of news including two BDCs reporting activity levels, a closed half billion dollar unsecured note offering and two credit updates.
Finally, the BDC sector breaks a 52 week price record. There’s plenty of other news including two earnings releases, an unexpected dividend increase and a planned new public debt issuance.
The BDC rally marches on, but sector prices remain below the June record. Otherwise, we learn more about a smaller sized BDC’s debt raising plans and review an underperforming portfolio company reaching a decision point that might benefit two of its BDC lenders.
The BDC sector was barely impacted by the “carnage” in the broader markets on Monday. On the news front, a very large BDC raised new debt on attractive terms and a smaller BDC maintained a long standing record of unchanged distributions.
September began very slowly where BDC prices were concerned, and there was no news to report. On the credit front, though, we learned more about how the bankruptcy of Sequential Brands might play out. That’s important to two large BDCs.
August ended with a whimper where the major indices, and the BDC sector, were concerned. We run the numbers and discuss a just redeemed Baby Bond and a major corporate bankruptcy affecting two large cap BDCs.
For a second day, both the major indices and BDC sector prices pull back. Also a larger BDC issues new debt at a very low yield while a peer redeems its Term Preferred, plus another BDC discloses insider ownership
Following its merger and surprise dividend increase, the BDC Reporter annotates the second largest BDC’s IIQ 2021 conference call transcript. Has the BDC undergone a permanent shift for the better or not ?
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.