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.
PennantPark Investment’s stock price began the week by cratering. We look at the reasons why and evaluate if the market reaction was “appropriate”.
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 discuss PennantPark Investment’s first monthly dividend and segue into a broader review of the past, present and future payouts of the BDC, which is recovering after years in the figurative wilderness.
An analyst downgrades PennantPark Investment despite its ever-increasing dividend level. We analyze the long term data to see why that might be.
PennantPark Investment’s NAV Per Share dropped a shocking (14%) in the IVQ 2022. We annotate the conference call and discuss why that happened and what the outlook is for this long-standing BDC.
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. .
