BDC prices slumped slightly on the day. BDC earnings season began with one disappointing result and one as expected. Also, we were surprised by a very inexpensive unsecured debt offering by a well regarded BDC.
Over the past two days BDC sector prices have dropped, but not very far. Also one BDC has reported earnings and two others provided previews of second quarter activity.
The BDC Reporter has several breaking BDC-related news stories to discuss in our daily summary, plus two important credit developments.
After a day away, we publish two days worth of annotated BDC news coming from some of the sector’s most recognizable names.
The BDC Reporter previews at the market open what we’re working on for Monday April 5, 2021.
A portfolio company of Apollo Investment has filed for Chapter 11. We re-publish an article from the BDC Credit Reporter and review the impact on the BDC.
Golub Capital announces a new secured loan facility. Nonetheless, the BDC Reporter has questions about the BDC’s overall financing structure.
Golub Capital reports IVQ 2020 results very much in line with its own preliminary metrics. The BDC Reporter, though, has questions about liquidity and the dividend outlook.
We re-publish an article from the BDC Credit Reporter about the restructuring and realized loss of a Golub Capital portfolio company.
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.
