Capitala Finance wins a round in a long standing lawsuit with disgruntled shareholders. We use the opportunity to offer insights – drawn from the judge Kenneth Bell’s Order – into how securities laws have impacted a BDC. Instructive both where CPTA is concerned and more generally for all BDC investors.
The BDC Reporter shares some concerns – which may prove overblown – about Capitala Finance’s relationship with the SBA following a major realized loss in the second quarter of 2019.
Over recent weeks, the BDC sector has been headed nowhere. The BDC Reporter, though, reminds readers why eternal vigilance is necessary, drawing from a decade of experience, and what cause cause a market moving change to occur.
In the middle of a turnaround and repositioning of its portfolio, Capitala Finance disposes of 2 companies. We discuss the impact on the BDC’s ongoing attempts to re-make itself after a series of credit losses and dividend decreases.
As the risk-free rate drops to new lows, existing BDC debt holders are not benefiting. In fact, we worry about what the week ahead – if the current trends continue – might bring. We also update BDC Fixed Income news and the Fixed Income Table.
The BDC Reporter annotates the just released transcript of Capitala Finance’s earnings Conference Call and has a different perspective on a few items.
Moody’s has named the 17 top candidates amongst retail names to file bankruptcy in 2019. The BDC Reporter analyzes how BDC lenders might fare if the worst comes to pass.
Capitala announces two portfolio company exits. We analyze the news in the wider context of the BDC’s attempted turnaround and portfolio repositioning.
Why we invested in Capitala Finance as part of our Special Situations strategy.
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.
Nothing much happening in the foreground where BDC Fixed Income is concerned. In the background, though, the scene is being set for a huge expansion of the sector.
A very quiet week for BDC Fixed Income prices but two BDCs surprise with debt buybacks. In the future, though, the BDC Reporter expects much more issuance and redemption activity.
BDC Fixed Income prices do nothing very surprising on the week. However, the BDC Reporter is startled by Prospect Capital’s newest Baby Bond offering and its implications for the BDC debt market more generally.
BDC Fixed Income prices perk up…a little, as bond markets are roiled. Otherwise, not much happening as BDC issuers wait on the markets.
The BDC Common stock rally hangs in there for another week. The BDC Reporter – in a thoughtful mood – looks backwards and forwards at both stock prices and credit risk.
