Sixth Street Specialty raises new equity capital. We review the numbers and the likely impact on the BDC. We also place this development in a broader BDC context and what it might mean for the future of the sector.
Not very surprisingly Sixth Street Specialty claims no material exposure to you-know-who. More intriguing is their discussion of leverage and liquidity which raises sector-wide issues.
The BDC Reporter annotates Sixth Street Specialty’s IVQ 2021 conference call transcript following a very fruitful year. Much is discussed, including the prospects for 2022 in a year where short term rates are expected to soar.
The BDC Reporter has been on a plane so we’re updating two days in one post. The markets – and the BDC sector – went up only to come back down on war fears. Two BDCs reported distributions, which we review in detail.
BDC stock prices resumed their ascent after a one day pause. We highlight interesting information in Capital Southwest’s conference call and provide details about Ares Capital’s latest debt offering and some other minor items.
The BDC Reporter provides a brief update on what we’ve been working on as sector prices have tumbled for three days in a row. We will be on vacation for a few days but will continue to publish several new annotations of BDC conference calls. .
For the first time in seven weeks, BDC sector prices dropped, but not much. We also discuss recent developments at BlackRock Capital and Sixth Street Specialty.
A famous retailer – just out of bankruptcy is poised to tap the capital markets. Sixth Street Specialty Lending appears poised to benefit.
Sixth Street Specialty Lending raises a large amount of new unsecured debt at a favorable yield. We analyze the impact on both balance sheet and P&L, and compare with another similar issuance by Ares Capital.