PennantPark Floating Rate has been negotiating with its secured lenders and come away with a lower loan limit but better pricing. We assess the impact of the news on the balance sheet and income statement.
We re-publish key BDC news stories and commentary from the week just ended from all three magazines we write.
We re-publishing an article from the BDC Credit Reporter about developments at an under-performing logistics company whose debt is held by 6 public BDCs from our coverage universe.
We are writing credit summaries for every BDC that has reported IVQ 2023 results. These summaries accompany one of the BDC Reporter’s top SubScriber Tools: the BDC Credit Table. We have just completed a credit update for Barings BDC. That’s 12 completed.
We use the opportunity of PennantPark Floating Rate’s recent dividend announcement to survey the BDC’s payout history and outlook and review its market valuation.
We use the opportunity of two recent BDC announcements to analyze what might be coming in 2023 and beyond in terms of the form and level of payouts to BDC shareholders. How this plays out could impact BDC stock prices and shareholder returns for years.
We analyze the preliminary IVQ 2022 results published by PennantPark Floating Rate in the context of the BDC’s current secondary stock offering.
We re-publish an article from the BDC Credit Reporter about the sorry state of a BDC portfolio company held by half a dozen players.
The major indices all moved up on Wednesday but the BDC sector slipped for reasons unclear. Besides Ares Capital, the two PennantPark BDCs reported strong results and a dividend increase to boot.
An up day for the major indices, flat for the BDC sector. Plenty of news including an earnings release; a dividend and some big equity gains getting harvested.
BDC sector prices rose sharply on day two of 2022. One BDC announced a new investment but few details and another amended – in its favor – 4 debt facilities.
All the markets, including the BDC sector, bounced back after two days of red ink. In the news, we discuss two BDCs dividend announcements and continue to review the merger of the two SLR BDCs.
BDC prices inch up slightly but remain in a narrow range. We discuss why one BDC’s NAV and stock price dropped and two important unsecured debt offerings.
Another up day for BDC stock prices, and for most of the indices. News-wise, a venture debt BDC recaps the quarter’s activity; an unchanged distribution is announced and yet another player returns to the unsecured debt issuance well on favorable terms.
The BDC sector was barely impacted by the “carnage” in the broader markets on Monday. On the news front, a very large BDC raised new debt on attractive terms and a smaller BDC maintained a long standing record of unchanged distributions.
