We re-publish key BDC news stories and commentary from the week just ended from all three magazines we write.
4 BDCs of all stripes have reached new record high prices. We provide valuation metrics and discuss why the market animal spirits seem to be reviving.We’ve got one strong theory.
We are taking a break from reporting on the BDC sector’s latest results to re-publish a telling tale from the BDC Credit Reporter about a failed agtech company.
We re-publish two articles from the BDC Credit Reporter about recent bankruptcies of FS-KKR Capital and discuss the BDC’s recent credit metrics.
We tackle the complicated subject of FS-KKR Capital’s recent performance and whether this huge BDC is turning the credit corner after years of poor performance.
Five different BDCs are tapping the markets for unsecured, medium term debt – each in a different way. We review the details and explain why this is important.
The BDC Reporter focuses on two items of special interest in FS-KKR Capital’s latest earnings conference call.
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.
BDC sector prices rose sharply on day two of 2022. One BDC announced a new investment but few details and another amended – in its favor – 4 debt facilities.
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 gradual BDC rally took a small step back on Monday even as the major indices continued to rise. News-wise, one of the largest BDCs received a thumbs down from a leading analyst.
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.
