BDC Fixed Income prices seemed to be headed in one direction just a fortnight ago, but now are moving in unexpected ways. We discuss both sector trends and the path of individual issues and what the future might hold, which is likely to be very different from the past.
The BDC Reporter has reviewed the Great Elm IQ 2020 conference call transcript and provides a list of highlights.
BDC Fixed Income prices drop slightly in the week. We discuss the challenges the weaker BDCs face and how that’s translating to the value of their debt.
BDC Fixed Income – like common stocks – have a better week price-wise, but there are still strains. Investors look forward to BDC earnings season and what that might mean for fixed income prices and outlook, with three funds in the docket.
Given the large amounts and the multiple number of public BDCs involved, we re-publish a BDC Credit Reporter article about a troubled restaurant chain.
The shaking and rattling of prices in the BDC Fixed Income sector quieted this week. We review the metrics and news developments affecting issuers. The BDC Reporter, though, explains why coming weeks may not be as quiet as this one.
BDC Fixed Income prices have a good week, mirroring their common stock counterparts. Yet, we’re far from the days when most every unsecured debt issue traded at par. Just how far and what might need to happen for that to change is discussed in this latest version of the BDC Fixed Income Market Recap.
The BDC sector reaches new lows not seen in over ten years but bounces part of the way back. Is the worse over ? The BDC Reporter argues that we’ve only just begun, and explains why.
Great Elm Corporation announced 2019 results and its quarterly dividend. The latter, though, will no longer be paid out 100% in cash… We review the details; the reasons why and the possible consequences for the BDC’s stakeholders and the sector as a whole.
The BDC Reporter updates BDC Fixed Income prices after a week of huge – and uncharacteristic moves. We also look ahead to a week where more of the same seems to be in the cards.
Even the stable price world of BDC Fixed Income debt could not withstand the market drop in the week ended February 28, 2020. We review the damage to the group and to individual names and offer up thoughts as to what might happen next to both prices and to the use of fixed income debt by BDCs.
After the worst week for BDC prices in nearly ten years, the BDC Reporter summarizes what happened and what might be coming next. Not for the faint of heart but necessary reading.
Two weeks into February and there are 4 new loans in default amongst some of the largest non-investment grade leveraged borrowers, according to S&P Global Market Intelligence. We review which BDCs are involved; to what degree and what this tells us about the private credit industry.
BDC Fixed Income prices surprise the BDC Reporter in the first few days of the new year. Plus, a BDC taps the unsecured market for the first time.
First few days of 2020 for the BDC sector, whose rally seems to be in neutral. Most of the news developments in the period were on the credit front.