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.
We review price developments and new issuance in the BDC Fixed Income segment for the week ended October 25, 2019.
The BDC Fixed Income median price barely changed for the week, but there was a shift among issues trading below par. Otherwise, new issue activity remained high and more is promised. It’s been a busy month for BDC unsecured debt and for the Reporter.
BDC Fixed Income prices didn’t change much on the week, but the capital markets for new unsecured debt issuance were very busy and the BDC Fixed Income landscape is rapidly changing.
The BDC Reporter lifts the key long form sections of our BDC Earnings Preview to highlight OFS Capital in advance of IIQ 2019 results.
A weaker week for the markets and the BDC sector. We discuss both the week’s individual BDC winner and losers, while keeping an eye on earnings season right round the corner.
OFS Capital – in a BDC first – establishes a wholly owned subsidiary just to acquire senior loans. We discuss what we now know, what we don’t and why that matters.
OFS Capital joins a select group of BDCs that have offered to reduce a portion of their compensation over a certain leverage level. The BDC Reporter looks the gift horse in the mouth…
The BDC Reporter takes a hard look at OFS Capital’s portfolio from a credit perspective, and changes its outlook.
OFS Capital issues another Baby Bond, preparing further expansion of its balance sheet. We look at the impact on portfolio and earnings down the road and how this fits into broader BDC challenges.
BDC Fixed Income moved up modestly in quiet week. However, changes are underway in how some BDC debt is rated which could have major implications.
Contradictory data about the direction of the BDC common sector, but the trend seems more to the downside than the upside.
BDC Fixed Income prices did not move much on the week, but the outlook for the entire sector for years to come shifted dramatically.
On the cusp of the most interesting Earnings Season in years, BDC stocks remained in a narrow range. We look forward to the debate about extra leverage but also beyond…
