After briefly reviewing price activity for the week in the BDC Fixed Income segment, we discuss a recent Baby Bond issuance and its implications for other players likely to come to market shortly.
We highlight current trends in the CLO market that might impact BDCs in the upcoming earnings season. We focus on 3 BDCs in particular.
The BDC Reporter undertakes a credit review of Saratoga Investment following the publication of its fiscal second quarter results.
We summarize how Saratoga Investment performed in its calendar third quarter ended in August, now that the earnings release, 10-Q, Investor Presentation and Conference Call transcript have been reviewed.
The BDC sector moved upward on the week, following the major indices renewed optimism. The BDC Reporter, though, shares its concerns about what might happen in the remainder of 2019 and into 2020.
A strange week for the broad markets, which filtered through to the BDC sector. We discuss short and longer term price trends; developments out of the SBA that could have major sector ramifications and note early signs of weakness in the credit markets that might make headline status in the weeks ahead.
Saratoga Investment receives a second SBIC license. We review the BDC’s long standing relationship with the Small Business Administration and analyze how its balance sheet, leverage and earnings might be altered by this substantial increase in capital availability.
Saratoga Investment has a mostly uneventful quarter. Nonetheless, the BDC reporter finds much to review in the Conference Call transcript.
We update what the BDC Reporter learned from the scheduled – and previously previewed – earnings release of Saratoga Investment.
The first full business week of 2019 and the BDC Reporter is back previewing what we might expect to hit the headlines in the next few days. “Whereto the market ?” remains the most important question but there is one earnings release this week and two major shareholder votes pending. Interesting start to an important year.
We offer questions investors should want to ask Saratoga Investment when quarterly earnings are released on October 10, 2018 after the close.
Saratoga Investment is to issue a second Baby Bond. In advance of getting all the details, we analyze and discuss risk and return.
The BDC mini rally hangs in there for another week. We discuss who was up and who was down and the lessons learned. Plus, we provide our best guess as to the short term outlook.
Our view following Saratoga Investment’s secondary stock offering.
Mixed messages about the short term direction of the BDC Sector. The BDC Reporter, though, quantifies how drastically the shape of the sector will change in the next 2 years and which could yet cause BDC prices to shift.
