We introduce a new regular feature: a comprehensive review of every BDC development during the week just ended, each annotated by the BDC Reporter.
“What goes up will come down” as BDC sector prices proved this week as volatility resumed. Also there were other notable developments including equity capital raised; a surprise dividend and important shareholder approvals. We also discuss the surprising change the size of the BDC sector is likely to take in the days and months ahead.
The BDC sector dropped back again last week after a head fake the week before. We review the numbers and evaluate what we’ve been learning from the BDCs themselves all week and what remains unknown.
The BDC sector reaches new lows not seen in over ten years but bounces part of the way back. Is the worse over ? The BDC Reporter argues that we’ve only just begun, and explains why.
The BDC Reporter reviews a strange week in the markets as investors switched from rampant optimism back to white knuckled fear. We also offer up our candid view of what might happen next, and our surprise as to how the markets have behaved to date.
After a day of red ink in the markets, the BDC Reporter thought to analyze how the sector fared – both in absolute terms and against the broader indices – and to review the impact on the 45 public entities we track.
As the risk free yield continues to drop, BDC Fixed Income prices moved up, but only slightly. We also discuss the latest unsung development over at Medley Management and predict what the rest of 2019 might bring in term of prices and new activity.
A strange week for the broad markets, which filtered through to the BDC sector. We discuss short and longer term price trends; developments out of the SBA that could have major sector ramifications and note early signs of weakness in the credit markets that might make headline status in the weeks ahead.
The risk free rate hits a new low but BDC Fixed Income prices remain unmoved. We discuss market prices; credit ratings past and future and close with a three year chart.
We update the just announced redemption date for one of Newtek Business Services’ Baby Bonds.
In a routine week for BDC Fixed Income prices, there were two major developments worthy of attention.
Newtek Business issues one Baby Bond to redeem another. We discuss who gains and who loses in this latest development in the world of BDC Fixed Income, which is poised for more change.
For the second time in a 6 week period Newtek Business increases its projected 2018 distribution, as anticipated in the BDC Reporter’s Dividend Outlook. We discuss our new dividend rating for NEWT.
Mixed messages about the short term direction of the BDC Sector. The BDC Reporter, though, quantifies how drastically the shape of the sector will change in the next 2 years and which could yet cause BDC prices to shift.
Once again, the BDC Reporter’s Dividend Outlook projection pans out. In this case, Newtek Business Services retains membership in an exclusive BDC club.