Whereas the major indices dropped, the BDC sector increased in price on Tuesday. Also, two BDCs announced distributions: one increased and one unchanged, and a large cap player pays off expensive debt.
The BDC Reporter pens the second part of its primer on newly public Cion Investment Corporation. We dive into future leverage expectations and changes in compensation arrangements with the advisor. However, there’s still much we don’t yet know.
The major indices were down, and so was the BDC sector, but less so. There was no news to report, which keeps this Daily Update unusually short.
For a third week in a row the BDC sector saw prices increase. With 12 weeks left in the year, we review where the sector stands and what is likely to happen to prices.
As the major indices zagged upwards, the BDC sector zigged down on Thursday. Also, a well respected CFO leaves a mid-sized BDC and another BDC swaps out one long standing secured lender for another.
The BDC Reporter – in the first part of a two part series – provides a primer on the latest BDC to go public: Cion Investment Corporation.
Another up day for BDC stock prices, and for most of the indices. News-wise, a venture debt BDC recaps the quarter’s activity; an unchanged distribution is announced and yet another player returns to the unsecured debt issuance well on favorable terms.
The major indices were all in the black on Tuesday, and the BDC sector largely followed along. There was big news in the form of a BDC going public; outstanding earnings from an existing mid-sized player and yet another low yielding issuance of unsecured debt.
The BDC sector was barely impacted by the “carnage” in the broader markets on Monday. On the news front, a very large BDC raised new debt on attractive terms and a smaller BDC maintained a long standing record of unchanged distributions.
If August was a quiet month for BDC fixed income news, September has brought many changes, albeit mostly expected. BDC debt prices, though, remain unchanged.
The week – and month – ended badly for the major indices, but not so much for the BDC sector. With three months till year’s end is there more fuel in the tank for the BDC rally ?
After two weeks down, BDC sector prices were up. We provide color and also discuss – partly based on developments this week – why we remain sanguine for the rest of 2021.
The main indices had a hard time rebounding from Monday’s big down day, but not so the BDC sector. Also, a popular mid-sized BDC reports on two significant realized gains and – in breaking news – one public BDC is set to acquire a private player.
A SPAC gobbles up a BDC portfolio company.
BDC prices have started the new week with a strong showing. In the news, a preferred offering and credit developments at several BDC portfolio companies worth knowing about. Some good news and some terrible.
BDC sector prices went nowhere, and volatility was low on Wednesday. However, the BDC Reporter found several news and credit stories to write about you probably won’t find covered anywhere else.
Only one significant BDC news item to report on as BDC prices move up for a fourth day in a row.
The second week of BDC earnings season is about to begin but the headline as of Monday morning relates to a new private unsecured debt offering and the upcoming redemption of a public Baby Bond.
As the BDC market remains at a high, we review highlights from two BDC conference calls. Also, two new BDCs are on deck to report after the close.
At the beginning of the first week of BDC earnings season, there are several interesting news items, including two proxies worth exploring.
