We review all the key aspects of BlackRock Capital’s IQ 2023 performance and seek to understand why the BDC fails to get attraction with investors.
We’ve taken BlackRock Capital’s IIIQ 2022 earnings conference call, keeping only the content relating to credit issues. We’ve added annotations based on our just completed review of the BDC’s 111 company portfolio.
The BDC Reporter highlights the key issues involving BlackRock Capital Investment, drawn from its recent conference call.
The BDC Reporter annotates BlackRock Capital’s IIQ 2022 earnings conference call and wonders how long shareholders will have to wait for the BDC to catch up with the rest of its peers.
We update BlackRock Capital’s credit status as of the IQ 2022 and find much has improved in recent years.
The BDC Reporter summarizes the key findings in BlackRock Capital’s IQ 2022 conference call, as well as in the earnings release and 10-Q. Could earnings hurtle forward and exceed the dividend in a few quarters ?
BlackRock Capital is raising new unsecured notes with unusual terms at just the wrong time in order to repay its large convertible debt due in June. We discuss the new financing and its implications for the BDC’s portfolio growth; cost of capital and earnings coverage of its dividend.
At long last, the Fed has begun raising rates and promises many more. The major indices were excited about what they heard, BDC investors less so. Otherwise, there was little else in the way of BDC news except Logan Ridge Finance’s conference call and a proxy from BlackRock Capital.
We annotate BlackRock TCP Capital’s latest conference call and find very few surprises in a routine – but encouraging quarter. The future, too, looks much like the recent past.
The markets were mixed but the BDC sector was up – slightly. In the tumult of IIIQ 2021 earnings we discuss the differing stories of three players seeking to “cover” their distribution with earnings.
September began very slowly where BDC prices were concerned, and there was no news to report. On the credit front, though, we learned more about how the bankruptcy of Sequential Brands might play out. That’s important to two large BDCs.
August ended with a whimper where the major indices, and the BDC sector, were concerned. We run the numbers and discuss a just redeemed Baby Bond and a major corporate bankruptcy affecting two large cap BDCs.
The BDC sector is getting busy with earnings releases, amended financing arrangements and credit developments. Most of the day’s update is devoted to what we’ve learned – or otherwise – from Capitala Finance’s earnings and conference call.
For the first time in seven weeks, BDC sector prices dropped, but not much. We also discuss recent developments at BlackRock Capital and Sixth Street Specialty.