BDC earnings season begins with strong results from three very different BDCs as the sector remains at new price highs. We also share two important credit developments that affect multiple BDCs, drawn from the BDC Credit Reporter.
The BDC Reporter has several breaking BDC-related news stories to discuss in our daily summary, plus two important credit developments.
The BDC Reporter offers up a long list of BDC developments in the past 24 hours, all annotated. We also discuss the new BDC sector price record.
OFS Capital is adding $25mn to an existing recent unsecured note offering. The BDC Reporter places the move in the context of the BDC’s leverage and liquidity.
OFS Capital puts up much better results for a second quarter in a row.
OFS Capital amends one of its secured loan agreements. The favorable terms agreed on suggest the BDC’s finances continue to be on the mend.
OFS Capital surprises with a better-than-expected IIIQ 2020. However, uncertainties continue to abound.
OFS Capital amends its Revolver with one of its secured lenders. We continue a long standing discussion about the BDC’s liquidity outlook.
As promised in an earlier article, the BDC Reporter profiles the second most important OFS Capital portfolio company on non accrual.
We re-publish an article from the BDC Credit Reporter about OFS Capital’s latest non performing portfolio company, and place the amounts of cost, FMV and investment income involved in context.
OFS Capital is issuing its fourth Baby Bond. The BDC Reporter analyzes the reasons why and where that leaves the BDC and its shareholders and debt investors.
The BDC Reporter annotates OFS Capital’s IIQ 2020 conference call transcript. We review a multitude of subjects, including the BDC’s liquidity of which there may be less than meets the eye.
A first look at troubled BDC OFS Capital’s IIQ 2020 results.
A third week of dropping BDC sector prices as market confidence falters. We review the three biggest losers and one of the few weekly winners and also discuss an update from New Mountain Finance and a buyback at THL Credit. We end with the inevitable review of BDC credit trends.
The BDC Fixed Income sector was not to be left out of the general price reflation that occurred across all markets in the week ended June 5. Is the market about to “get back to normal” ? We consider the evidence and note a major omission.
