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.
Another record price level for the BDC sector, and two more BDCs report earnings.
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.
As presaged, BlackRock Capital Investment’s IVQ 2020 results were poor, but the manager has high hopes for 2021.
Avanti Communications – leading portfolio company of Great Elm Capital – gets a last minute financial reprieve.
BlackRock Capital Investment is offering up a preview of IVQ 2020 developments and some key metrics. The BDC Reporter deciphers the disclosures and speculates as to the way forward for the underperforming BDC.
The BDC Reporter annotates BlackRock Capital’s conference call transcript regarding anything related to credit following a disastrous IIIQ 2020 performance.
