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.
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 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.
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.
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.
After reading Saratoga Investment’s latest earnings release, 10-Q, Investor Presentation and listening to its conference call, the BDC Reporter discusses the BDC’s short and long term outlook in great detail.
All the markets dropped sharply on Wednesday, including the BDC sector. There was also plenty of news including a departing director; a new portfolio company and an unchanged distribution, not to mention Saratoga’s latest results.
In December, BDC Fixed Income prices rose even as the number of public issues dropped. We review the latest data and how this segment of the debt market has evolved since 2012 and what is likely to lie ahead.