Newtek Business Services has quietly refinanced years in advance its most expensive unsecured note. We review the earnings impact and what further steps investors might expect as Newtek changes its status.
The markets remained jittery about the impact of higher oil but the BDC sector settled down into a wait-and-see stance. Otherwise, a BDC just upped its dividend forecast by 15%.
In December, BDC Fixed Income prices rose even as the number of public issues dropped. We review the latest data and how this segment of the debt market has evolved since 2012 and what is likely to lie ahead.
The major indices slumped just before the close but the BDC sector stood steady. The BDC Reporter kept busy with the review of a new financing facility for a large cap BDC and further credit updates. Plus, we updated the BDC Fixed Income Table.
All the indices were down, including the BDC sector’s. Still, the sector remains up for the month. We review two news stories from Newtek Business and discuss record deal volumes and record low bankruptcies in a BDC context.
BDC fixed income prices remained unchanged in the month of November. The size of the sector continues to shrink with multiple full or partial redemptions changing the landscape.
After a big drop on Covid variant worries on Friday, Monday saw the major indices – and the BDC sector – regain some lost ground. Also, yet another public Baby bond gets (partly) redeemed; a venture debt player breaks a record and a large cap BDC reports results.
Most of the major indices – and the BDC sector – continue to move upward, closing in or breaking records.Plus, a huge dividend is announced and a secondary offering launched by two mid-sized BDCs.
The markets partly recovered on Wednesday, and the BDC sector also moved up strongly. The only BDC in the news was Newtek Business Services with two notable developments.
The markets move up for a second cday, with the BDC sector following some way behind. We review several BDC news items – none very important – and have a mouthful to say about the credit outlook for the lower middle market.
The S&P hit a new high, but the BDC sector dropped. Leading the news – despite multiple earnings releases – was the decision by one BDC to quit and become a national bank.
The new month/week began with a modest BDC price rise. However, there was shocking news from one of the most popular – and idiosyncratic BDCs – out there just as earnings season shifted into high gear.
Nothing much happened on Monday to BDC common stock prices. However, there were a few news developments for the BDC Reporter to discuss.
For the ninth day in a row BDC stock prices reach new heights. Otherwise, a mid-sized BDC books a new debt and equity portfolio company and we continue to research credit issues.
BDC sector prices rally for an 8th day. We also learn about a new BDC portfolio company and undertake more credit updates of companies and BDCs.
