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BlackRock Capital Investment: To Issue Unsecured Debt

Premium Free Activist News Debt Investor Dividend Best Ideas

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.

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BDC Daily Update: Wednesday March 16, 2022

Premium Free Activist News Debt Investor Dividend Best Ideas

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.

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