A mixed week in the BDC sector but the trend is still to the upside. The BDC Reporter also discusses the monumental changes underway amongst the bigger BDCs and what that might mean for the future.
In an expected but still major development, Corporate Capital Trust merges into FS Investment and the second largest public BDC is about to be born. We discuss the terms, the uncertainties and the investing opportunity involved.
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.
BDC Fixed Income prices are modestly higher. More importantly, the landscape for unsecured BDC debt changes before our very eyes.
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.
The BDC Sector moved up, then down and remained in the same place where it’s been for weeks. Trends are underway – both inside and outside the sector – that could change all that.
The mini-surge in BDC common stock prices reversed this week. Are we headed back down or just taking a break ? Longer term, much may depend on how BDCs tackle the new leverage rules, as we explain.
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.