WhiteHorse Finance is beginning the process of raising new unsecured debt and is targeting the redemption of its existing Baby Bond. Early details here.
The broader indices and the BDC sector dropped on Wednesday, with one venture-debt player taking a shellacking. Also, two BDCs are paying off Baby Bonds as the “Great Refinancing” continues.
All the indices pull back from record highs, including the BDC sector. Earnings and dividends continue to be announced, causing one BDC to disappoint investors but most are performing as expected.
The BDC rally marches on, but sector prices remain below the June record. Otherwise, we learn more about a smaller sized BDC’s debt raising plans and review an underperforming portfolio company reaching a decision point that might benefit two of its BDC lenders.
Most of the major indices – and the BDC sector – continue to move upward, closing in or breaking records.Plus, a huge dividend is announced and a secondary offering launched by two mid-sized BDCs.
BDC sector prices went nowhere, and volatility was low on Wednesday. However, the BDC Reporter found several news and credit stories to write about you probably won’t find covered anywhere else.
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.
We provide an update about an article written hours earlier about the bankruptcy of a WhiteHorse Finance borrower.