On day two of BDC earnings season, the market leader offered up the biggest headlines. However, there was also some smaller BDC stories worth noting.
As July began, BDC stock prices rose, with one mid-sized BDC leading the way. Also, a BDC changes its name,ticker and manager; a leading BDC amends its debt and another prepares to raise fresh capital. We also discuss ever improving credit conditions and what that might mean when IIQ results come out.
BDC sector prices dropped moderately on Tuesday, but remain close to their 52 week high. Also, a small BDC returns to the public unsecured debt market while another undertakes a recapitalization of a successful portfolio company.
While BDC common stocks marched on, fixed income prices stayed stable. However, there were a couple of price moves that deserve mention in a week with no other developments.
BDC sector prices are breaking records again and there are important developments at Capitala Finance and Hercules Capital to discuss.
BDC stock prices drop for the first time in nine business days even as earnings season comes to an end. The BDC Reporter also has some strong words about the sector’s corporate governance.
BDC prices did not move much and we there were only a couple of developments to report, but we added some credit news to the BDC Market Agenda.
The median price of public BDC debt moved down on the week, but not far. We also discuss what we learned from BDC conference calls about the outlook for multiple debt issues.
BDC stock prices held up well in week two of earnings season. We review the top winners and losers and project what prices might go next.
Just as BDC earnings season heats up, several other developments occur just as sector prices slump…
The BDC sector is getting busy with earnings releases, amended financing arrangements and credit developments. Most of the day’s update is devoted to what we’ve learned – or otherwise – from Capitala Finance’s earnings and conference call.
The second week of BDC earnings season is about to begin but the headline as of Monday morning relates to a new private unsecured debt offering and the upcoming redemption of a public Baby Bond.
The BDC fixed income sector brought all sorts of records this week with more likely to follow in the months ahead.
The BDC Reporter annotates the conference call discussing the proposed change of external manager at Capitala Finance and has some tough-to-swallow conclusions for shareholders of the BDC.
Out of the blue a BDC seeks to switch managers and two others prepare to merge, but all are related.
