BDC Fixed Income prices are modestly higher. More importantly, the landscape for unsecured BDC debt changes before our very eyes.
Another quiet week of BDC Fixed Income prices. However, legislation percolating in Congress could change everything.
Besides publishing two feature News Of The Day articles affecting NMFC and TCRD, the BDC Reporter reviews developments at 4 other BDCs. The principal uniting thread: what’s going to happen to the dividend ?
PennantPark Investment declares its second, lower distribution in a row. The BDC Reporter focuses a very specific spotlight on what could go wrong at the BDC and bring about a second distribution cut and drop in price. We name names.
The BDC Daily News provides all the details of PennantPark’s Baby Bond refinancing, and follows up with a wide ranging discussion of cost savings, compensation and risk. We cover a great deal of ground and place this transaction in a bigger BDC context eight years into the never-ending economic expansion.
The BDC Reporter is still catching up on News Of The Day from May 8th. Here is a review of PennantPark Investment’s earnings and 10-Q.
The BDC Credit Reporter analyzes the current debt exchange underway at perennially restructuring Affinion, which has $100mn in BDC exposure.