Monday was a very bad day for all the markets price-wise, including the BDC sector. We review at some length what happened. Also discussed is a new rating of a BDC by a well respected investment bank.
BDC prices have started the new week with a strong showing. In the news, a preferred offering and credit developments at several BDC portfolio companies worth knowing about. Some good news and some terrible.
The biggest BDC-financed company bankruptcy of the year – and the 8th this month – happened on June 18. We re-publish a full report from the BDC Credit Reporter, but first discuss how so many BDC lenders have been caught out lending into the flawed energy model. Corrected June 22, 2020: An earlier version of this article included Main Street and HMS Income incorrectly as lenders to the bankrupt company.