We begin a series updating the BDC Credit Table as IVQ 2022 data rolls in as part of BDC earnings season. First BDCs to report: Saratoga investment and Capital Southwest.
We review Saratoga Investment from all sides now following the BDC’s release of its quarterly results through November 2022. This is a chance to determine if the lower middle market focused BDC is worth its ever increasing stock price.
Saratoga Investment issues and prices its third Baby Bond of 2022. We discuss the implications both for the note market and the fast growing BDC itself.
Heads up ! An already highly leveraged Saratoga Investment prepares to issue a new Baby Bond. We will publish a full fledged review when all the details are known.
Saratoga Investment is to book a realized gain on the sale of a portfolio company.
We’ve undertaken an in-depth credit review of Saratoga Investment’s credit portfolio through the end of August. Our summary: Pretty, pretty good.
The BDC Reporter experiments with a new format for analyzing and commenting on a BDC’s earnings conference call. We begin with Saratoga Investment who reports one month before the rest of the BDC sector.
Saratoga Investment has received a third license from the SBA to issue SBIC debentures. We explain why this is a feather in the cap for the BDC.
Saratoga Investment has just reported IIQ 2022 results and we’ve learned about a new underperforming portfolio company. Here are the details re-published from the BDC Credit Reporter.
A day after the BDC Reporter previewed Saratoga Investment’s IIQ 2d022 results, we are comparing what we expected with what actually happened.
The BDC Reporter previews the key issues facing Saratoga Investment in advance of the publication of its calendar second quarter 2022 results.
Saratoga Investment is issuing new unsecured debt in the public market – an important development at this time both for the BDC and the sector. We discuss the implications and what might happen next.
The markets – and the BDC sector – suddenly drop sharply. We also discuss Saratoga Investment’s latest unsecured note offering – instructive in many ways.
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 increased even as most of the major indices faltered. Also, we highlight some interesting conversations and data generated by Saratoga; note Ares Capital’s latest trip to the capital markets and Capital Southwest’s most recent portfolio investment in what was a busy day.
