First Eagle amends a couple of financing facilities and offers a fee waiver – all of which should support the maintenance of the current dividend level.
First Eagle Alternative Credit had “a productive ” quarter and year. The BDC’s conference call – which we’ve annotated – discusses the details and looks forward. Will there be a return to the halcyon days ?
In December, BDC Fixed Income prices rose even as the number of public issues dropped. We review the latest data and how this segment of the debt market has evolved since 2012 and what is likely to lie ahead.
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.
Not much changed in BDC Fixed Income prices during the week, but there were a series of comings and goings that continues to reshape the sector. Watch out ! There’s more to come.
There were many developments in the BDC Fixed Income sector during the week that changed the landscape and outlook.
The median price of public BDC debt moved down on the week, but not far. We also discuss what we learned from BDC conference calls about the outlook for multiple debt issues.
A famous retailer – just out of bankruptcy is poised to tap the capital markets. Sixth Street Specialty Lending appears poised to benefit.
A first look at First Eagle Alternative Credit’s IVQ 2020 results suggests more work needs to be done before the BDC is “turned around”