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.
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.
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 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 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.