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.
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.
BlackRock Capital Investment – despite bearing a highly respected name – had yet another poor quarter – possibly the worst of any public BDC.
BlackRock TCP Capital may not be back to its pre-Covid earnings and dividend level but another positive quarter is in the rear view mirror.
The BDC Reporter annotates the BlackRock Capital IIQ 2020 conference call transcript, including debating some of the premises offered up by management after another disappointing quarter.
Extracted from the BDC News Feed, first thoughts on BlackRock Capital Investment’s IIQ 2020 results.
For a second week BDC common stock prices rally along with the broader indices. However, there’s a very long way for prices to go before returning to pre-Covid levels and multiple challenges ahead.
BlackRock Capital has negotiated new terms with its secured lenders in an effort to bolster the BDC’s liquidity. We take a close look at what has been achieved and what remains uncertain.