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Gladstone Capital: Reduces Monthly Dividend By 9% From IVQ 2025 On.

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Gladstone Capital is the first well performing BDC to pre-emptively cut its regular distribution in the anticipation of lower earnings due to interest rate cuts. We analyze what two different interest rate scenarios might do to the BDC’s profitability but we also quantify other factors that could help or hinder this previously high flying BDC.

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Saratoga Investment: Outlook For Future Earnings

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On paper – going by the BDC’s own pro-forma projections – Saratoga Investment’s earnings could drop substantially should interest rates continue to decline. However, the BDC’s manager has multiple options to protect its profitability.

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BDC Prices Under Pressure: 12 Stocks Reach New 52 Week Lows

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BDC prices are taking a beating. In the past few weeks the sector is substantially down and the number of individual stocks at a new 52 week low this week is reaching record levels. We take a look at all the new 52 week lows to determine what can be learned from the identities of the BDCs reaching their nadirs.

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Palmer Square Capital BDC: Pro-Forma Impact of Interest Rate Cuts

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On hearing of Palmer Square Capital’s latest dividend, we were inspired to calculate how much the BDC’s earnings and dividend might change if we really get the big drop in short term rates that so many investors are counting on. This takes us all the way out to 2027 and all calculations are very hypothetical.

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Gladstone Capital: To Redeem Unsecured Notes Due in 2026 And 2028

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For the past few days Gladstone Capital has been announcing significant changes to its debt facilities. This week, the BDC filled in the picture further, which has allowed us to quantify what the impact on its balance sheet and income statement will look like for the next year and a half.

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Gladstone Capital: Issues New Convertible Debt.

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Gladstone Capital has tapped the Convertible market to raise funds to meet upcoming debt obligations. This has caused a big drop in the BDC’s stock price but the BDC Reporter believes this was an appropriate action which the BDC’s shareholders may learn to appreciate.

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Kayne Anderson BDC: Prices $200mn In New Unsecured Notes

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A month ago Kayne Anderson BDC promised a refinancing of its own debt stack was in the offing. Now that a private placement has occurred, we can begin to evaluate its impact on the BDC’s borrowings costs, earnings and balance sheet. We don’t have all the answers, but it seems like the BDC’s interest expense will be coming down, but there’s much else to consider.

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Is Crescent Capital’s Credit Performance Turning Around ?

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In a longer than we planned article, the BDC Reporter reviews how Crescent Capital’s stock price and fundamentals have deteriorated of late. We take a hard, long look at the most recent results to ascertain if credit performance has improved and whether to be optimistic about what might lie ahead.

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