Highlights from the last two days of BDC portfolio company news, and the possible impact on the multiple BDCs involved.
The Affinion Group has successfully pulled off a major restructuring, including two Rights Offerings and a debt for equity swap. How will that affect the two PennantPark BDCs who hold equity already ?
The famously stable BDC Fixed Income market seems a little anemic. However, that’s nothing compared to what may happen as BDCs position themselves around the Small Business Credit Availability Act.
Another good week for the BDC Sector and most of its constituents, as the rally marches on. We discuss myriad metrics and look at the length of the runway.
PennantPark Floating Rate held a Conference Call to update and reassure its Israeli Baby Bond holders. Mission accomplished ?
As forewarned earlier in the week, BDC common stocks are in rally mode, and may go higher. The BDC Reporter, though, looks a little further out…
A ho hum week for BDC Fixed Income prices but the new BDC leverage rules might ultimately put an end to the price stability in the sector that just added a new issue,
A Wild Week for both the markets and the BDC Sector. Maybe we reached a turning point in BDC history with the new looser leverage rules. Many asset managers think so and some analysts but the BDC Reporter has doubts.
When all about them were losing their heads, BDC Fixed Income investors did almost nothing during a turbulent week. Can this last ? We have a view…
Medley Capital – following in PennantPark Floating Rate;s footsteps – issues Unsecured Notes in Israel. We’ve talked with the CEO of one of the underwriters and review what this might mean for BDC debt raising in the years ahead.
This was a Nothing Week for BDC common stocks, but that’s likely to change shortly. The Fixed Income Sector is dealing with multiple negative dynamics, but briefly increased in size during the week.