We annotate PennantPark Investment’s conference call transcript following an encouraging quarter and examine what may lie ahead for this fast changing veteran BDC.
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.
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.
A very busy day for BDC news, but only moderate price movements. We welcome a new public BDC, and say goodbye to two public Baby Bonds.
The major indices jumped up, but the BDC sector stood still on Thursday. We review a new unsecured bond offering and a dividend announcement by two different BDCs.
BDC investors are an indecisive bunch, pushing up prices sharply after last week’s decline. We discuss the principal winners on the day. Also on the docket: a new CFO for two BDCs and the post-facto capital structure at Great Elm Capital after a Baby Bond offering.
BDC sector prices dropped moderately on Tuesday, but remain close to their 52 week high. Also, a small BDC returns to the public unsecured debt market while another undertakes a recapitalization of a successful portfolio company.
Yet another BDC price record; three dividend announcements and some credit news and company updates.
The BDC Reporter provides a brief update on what we’ve been working on as sector prices have tumbled for three days in a row. We will be on vacation for a few days but will continue to publish several new annotations of BDC conference calls. .
BDC Fixed Income prices quietly reach a new record and PennantPark issues new unsecured debt that might – or might not – redeem its public Baby Bond.
There are 4 news item on the agenda from the BDC sector on Thursday April 15, 2021 and the completion of a two part credit review of the largest BDC player.
We plumb two BDC proxies for valuable data and ask some hard questions as well as preview IQ 2021 results of a mid-sized BDC.
At the beginning of a new week, there are a couple of BDC developments to review.
BDC fixed income prices remained essentially unchanged but there were several notable news developments in the sector during the week.
We re-publish an article from the BDC Credit Reporter about PennantPark Investment’s largest portfolio company which has been underperforming for several years.
