The BDC sector dropped back again last week after a head fake the week before. We review the numbers and evaluate what we’ve been learning from the BDCs themselves all week and what remains unknown.
After a record week for BDC Fixed Income price drops, a reversal. We bring readers up to date on the ever changing numbers. Plus, we look ahead to what might happen under different scenarios, including the previously unthinkable.
The BDC Reporter updates BDC Fixed Income prices after a week of huge – and uncharacteristic moves. We also look ahead to a week where more of the same seems to be in the cards.
We re-publish an article from the BDC Credit Reporter about the bankruptcy of a BDC-financed retailer. However, our principal purpose is to bring readers attention to a trend developing in BDC investing that could have major consequences for years to come, and which could accelerate in the current environment.
The BDC Reporter reviews a strange week in the markets as investors switched from rampant optimism back to white knuckled fear. We also offer up our candid view of what might happen next, and our surprise as to how the markets have behaved to date.
We re-publish an article from the BDC Credit Reporter about one of four non performing portfolio companies Capitala Capital divested itself of in the IVQ 2019. We discuss the background of the investment and the impact on the BDC.
The BDC Reporter annotates the Capitala Finance IVQ 2019 conference call transcript, and adds an Executive Summary.
The BDC Reporter takes a break from individual BDC analysis to warn readers about how lower LIBOR could affect the entire sector’s earnings prospects, albeit to widely varying degrees.
Even the stable price world of BDC Fixed Income debt could not withstand the market drop in the week ended February 28, 2020. We review the damage to the group and to individual names and offer up thoughts as to what might happen next to both prices and to the use of fixed income debt by BDCs.
Lower interest rates across the board are continuing and impacting BDC Fixed Income in several ways, including price.
BDC Fixed Income prices didn’t move much in the week, but there are two huge trends underway in the sector that could change everything…
The BDC Reporter re-publishes an article from Leveraged Commentary & Data about third quarter 2019 trends and uses the opportunity to discuss some of the fundamental changes going on before our eyes in how the sector does business.
A long troubled retailer – whose debt is held by four different BDCs – moves closer to a restructuring or bankruptcy. We review the credit history and look forward to the possible impact on the BDC lenders involved.
There was a slight – and we mean tiny – shift in BDC Fixed Income prices in the week ended January 17, 2020. Also, two BDCs were in the market issuing new debt: one for a very large and one for a very small amount, but both are instructive.
BDC Fixed Income prices surprise the BDC Reporter in the first few days of the new year. Plus, a BDC taps the unsecured market for the first time.
