A full review of Bain Capital Specialty Finance’s IIQ 2023 performance and expectations for the future.
We review Bain Capital Specialty Finance’s credit performance through the IIIQ 2022 by annotating the BDC’s conference call.
The BDC Reporter, after many hours of data collection and analysis, has undertaken a detailed Credit Review of Bain Capital Specialty Finance. Also included is an annotation of credit comments made by the BDC’s management on its latest conference call and a database of all the significant underperforming companies in the portfolio. There’s enough data to keep readers occupied over the three day week-end and out of the heat.
We annotate the Bain Capital Specialty Finance IIQ 2022 earnings conference call and – amongst other items – weight the chances of substantially higher earnings and distributions in the second half of this year.
We use the opportunity of Bain Capital receiving a new investment grade rating to review how the BDC might perform as rates rise through 2022. Could the BDC’s stock price re-visit heights not experienced for three years ?
The major indices slumped just before the close but the BDC sector stood steady. The BDC Reporter kept busy with the review of a new financing facility for a large cap BDC and further credit updates. Plus, we updated the BDC Fixed Income Table.
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.
The BDC Reporter annotates Bain Capital’s third quarter conference call and is impressed by how far the BDC has come in terms of real dividend coverage. Future progress, though, is another matter.
The major indices were all in the black on Tuesday, and the BDC sector largely followed along. There was big news in the form of a BDC going public; outstanding earnings from an existing mid-sized player and yet another low yielding issuance of unsecured debt.
The BDC Reporter uses Bain Capital’s IIQ 2021 conference call transcript to point out the challenges facing the BDC, heavily subsidized by its investment advisor.