The first week of 2022 was a record breaking one for the BDC sector. We discuss the new price highs and much more and bring out the crystal ball for the weeks and months ahead.
BDC sector prices increased even as most of the major indices faltered. Also, we highlight some interesting conversations and data generated by Saratoga; note Ares Capital’s latest trip to the capital markets and Capital Southwest’s most recent portfolio investment in what was a busy day.
After reading Saratoga Investment’s latest earnings release, 10-Q, Investor Presentation and listening to its conference call, the BDC Reporter discusses the BDC’s short and long term outlook in great detail.
All the markets dropped sharply on Wednesday, including the BDC sector. There was also plenty of news including a departing director; a new portfolio company and an unchanged distribution, not to mention Saratoga’s latest results.
BDC sector prices rose sharply on day two of 2022. One BDC announced a new investment but few details and another amended – in its favor – 4 debt facilities.
First day back and the markets moved up strongly but the BDC sector less so. Also, plenty of new financing activity happening at three BDCs.
Cion Investment receives permission to leverage up its balance sheet. We analyze what that might mean for future earnings and what’s standing in the way.
SLR Investment Corp amends one of its revolvers, slightly reducing its borrowing cost. However, further savings of a more substantial nature are in the cards for 2022.
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.
In the final two weeks of the year, the BDC sector closed strongly, near its highest levels. We review both the latest data and the full year metrics and take a stab at a 2022 forecast.
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 Santa Rally rolled on but the BDC sector was left behind again. There was no news but the BDC Reporter undertook interesting research into a small-cap BDC’s portfolio.
BDC sector prices edge upwards as the year draw to a close, not far from their highs. We discuss a market moving analyst call on a large cap BDC and provide some additional food for thought.
Cion Investment announces an unusual new joint venture. We review what we know and what we don’t.
BDC prices continue to rally for a fourth day but remain below record breaking levels. We assess where we stand. Also, a midsized BDC adds a new investment and another seeks “routine” shareholder approval to sell shares at a discount if need be.
BDC prices are falling fast and across the board. We discuss if we’re about to hit a new air pocket and what that might mean for BDC investors.
BDC prices dropped for the third time in four days. We also discuss a new transaction booked by one BDC and an analyst’s rating of a large cap BDC.
In the last two days the BDC sector has been down in price and up again, following the volatility of the major indices. News-wise, the biggest development is yet another unsecured note offering as favorable conditions continue.
All the major indices and the BDC sector dropped in unison on Monday, but remain close to their respective highs. Plus, a large cap BDC adds a new lender.
The markets – and the BDC sector – bounce back from omicron worries. With 3 weeks to go in 2021, we review some of the favorable factors keeping BDC prices high, even if off its peak.