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.
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.
A Capitala Finance portfolio company in the healthcare field appears to have been restructured in the IIQ 2020, resulting in an upgrade from the BDC Credit Reporter. However, a realized loss seems to have been incurred and questions remain.