We continue to deep dive into BDC credit performance and turn now to OFS Capital – a BDC much out of favor with investors right now.
We annotate and provide highlights from OFS Capital’s IIQ 2022 earnings conference call.
All the markets dropped sharply on Wednesday, including the BDC sector. There was also plenty of news including a departing director; a new portfolio company and an unchanged distribution, not to mention Saratoga’s latest results.
OFS Capital redeems one of its Baby Bonds. The BDC Reporter updates the number of public debt issues and issuers and projects what the future landscape will look like.
The BDC rally marches on, but sector prices remain below the June record. Otherwise, we learn more about a smaller sized BDC’s debt raising plans and review an underperforming portfolio company reaching a decision point that might benefit two of its BDC lenders.
BDc sector prices climb ever closer to their 52 week high, but are not there yet. Also, a mid sized BDC offers up a preview of its key metrics and a larger player describes recent transactions booked. Finally, we continue to have website problems which we’re actively working on.
If August was a quiet month for BDC fixed income news, September has brought many changes, albeit mostly expected. BDC debt prices, though, remain unchanged.
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.
