First few days of 2020 for the BDC sector, whose rally seems to be in neutral. Most of the news developments in the period were on the credit front.
We share highlights from the BDC Credit Reporter’s compilation for the week of developments amongst under-performing portfolio companies, naming the BDCs and the amounts involved.
A famous discount retailer gets restructured and three BDCs with more than $50mn of exposure are involved. We re-publish our post from the BDC Reporter and discuss both the credit issues and the valuations involved.
The BDC Reporter annotates TPG Specialty’s IQ 2019 Conference Call transcript.
BDC Fixed Income reaches a notable milestone. Plus, we discuss a bifurcated debt issuance market.
TPG Specialty shareholders have voted on whether to adopt the new BDC asset coverage rules. In a follow-up article to our initial discussion of the Proxy in August, we sum up the results and pros and cons of the decision made.
The BDC Reporter de-constructs the pro and cons of TPG Specialty’s shareholder vote on higher leverage.
BDC Fixed Income moved up modestly in quiet week. However, changes are underway in how some BDC debt is rated which could have major implications.
Nine BDCs have reported earnings through the close on August 2, 2018. We’ve got the highlights, the lowlights and an early idea of where the BDC sector is headed.
A mixed week in the BDC sector but the trend is still to the upside. The BDC Reporter also discusses the monumental changes underway amongst the bigger BDCs and what that might mean for the future.
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.
Nothing to report on the BDC Fixed Income price front and only two minor debt raising developments. The big changes in this market remain in the (not so distant) feature.