BDC Fixed Income prices didn’t change much on the week, but the capital markets for new unsecured debt issuance were very busy and the BDC Fixed Income landscape is rapidly changing.
Owl Rock Capital raises a third unsecured debt issue. We compare pricing and terms to existing funding and to its BDC peers and come to some favorable conclusions.
As we do every week, we discuss price trends overall and for select BDCs where publicly traded unsecured debt is concerned. Plus, we review several major capital markets developments that occurred in the week, with the promise of more to come.
A BDC winning streak comes to an end this week, but the market remains buoyant nine months into the year. Little in the way of major developments to report, but credit continues to be a source of concern “maybe not today, maybe not tomorrow, but soon”.
In the span of a few weeks, BDC sector prices have gone from sleepy to rally. We discuss the possible reasons why and offer our own view as to whether this is merited based on the BDC Reporter’s proprietary research.
As we reported a month ago, non-traded BDC behemoth Owl Rock Capital has come to the public markets. We provide some basic info on the offering; a miscellany of additional information and a promise to undertake an in-depth review when the first earnings report comes round.
A new non-traded BDC is making the move to the public market: Owl Rock Capital. The BDC Reporter takes a first quick look at what might shortly become the fourth sixth BDC we track.
