Golub Capital’s fiscal fourth quarter results live up to the BDC’s reputation for reliability, which was briefly lost earlier in the year. Still, the BDC still has a major challenge ahead…
As October draws to a close, a new BDC-financed company files for Chapter 11. We re-publish an article from the BDC Credit Reporter and put this bankruptcy in context for a difficult year in credit.
Golub Capital offers up some preliminary results for the quarter ended September 2020. The BDC Reporter analyzes the metrics in the context of a difficult year for the BDC and the sector generally.
Golub Capital issues unsecured debt for the first time. We discuss both the details of the new debt and the role of junior debt capital in the BDC sector as a whole.
Golub Capital releases some preliminary IIQ 2020 results. The BDC Reporter compares these numbers against the BDC’s prior performance. We also seek to suss out what the outlook might be for Golub’s future earnings and dividend.
With BDC IQ 2020 earnings season at an end, is the sector oversold after dropping twice as much as the S&P 500 ? The BDC Reporter discusses in detail why that might not be the case.
The huge BDC rally of the week before came to a halt, but there were plenty of interesting and unusual price and news developments. The BDC Reporter takes this opportunity to worry aloud about what may lie ahead from a credit standpoint in a very uncertain economic, political and financial environment. Read with a stiff drink.
Golub Capital is preparing for a Rights Offering. In anticipation, the BDC published certain preliminary IQ 2020 metrics which the BDC Reporter has sought to analyze. By the end, we are left confused by the BDC’s new strategy.
The BDC sector dropped back again last week after a head fake the week before. We review the numbers and evaluate what we’ve been learning from the BDCs themselves all week and what remains unknown.
In a surprise move, a second BDC – Golub Capital – announces its intention to undertake a rights offering. We do our best to describe how the offering will work; the capital that might be raised and the likely impact on shareholders. We use the opportunity to quickly review some of the other alternatives BDCs have at hand to raise capital in a hurry.
Another week of BDC Earnings Season and another week of a sector-wide price rally. We review the highlights of both, and add some context about longer term trends underway.
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.
We summarize Golub Capital’s third quarter 2019 results in the wake of the acquisition of its non-traded sister BDC.
When the broader markets catch a cold the BDC sector sneezes, as this week proves again. Otherwise very little news but plenty to discuss where BDC portfolio companies credit troubles are concerned.
In a week where BDC stocks moved up to break new 2019 records – which we discuss at length – the BDC Reporter looks down the road at the growing and changing nature of the sector.
