The BDC Reporter annotates a new article from the Wall Street Journal about developments in the BDC sector.
A famous BDC-financed company files for bankruptcy. We re-publish an article from the BDC Credit Reporter that provides the details.
After reviewing IQ 2020 filings, and drawing on the resources of the BDC Credit Reporter, we have undertaken a credit review of Apollo Investment.
The second week of BDC earnings season boosts the sector’s overall price levels as BDC financial structures bend but do not break. However, the uncertainties surrounding the future direction of the economy could still change everything.
Given the large amounts and the multiple number of public BDCs involved, we re-publish a BDC Credit Reporter article about a troubled restaurant chain.
The BDC Reporter re-publishes five new articles written by the BDC Credit Reporter just in the last two days about BDC portfolio companies on or just added to the Underperformers list.
We re-publish an article about a Gladstone Capital portfolio company recently added to the underperformers list due to the Covid-19 crisis, one of many such BDC-financed companies impacted by the changed environment.
We republish an article from the BDC Credit Reporter about the downgrade by our sister publication of a Oaktree Specialty Lending portolio company.
The U.S. Government has come to the rescue of middle market, non-investment grade business with an ambitious new program. We worry, though, that without two key changes to the terms of the program this initiative will end badly for most everyone concerned.
At the crack of dawn, the U.S. government announced a number of programs to support middle market companies after weeks of inaction. The markets jumped in reaction. So did the BDC Reporter to pen our initial findings and thoughts on what this historic government intervention means for our readers.
Bain Capital Specialty Finance – one of the most leveraged public BDCs -is preparing to undertake a Rights Offering – a capital raising technique not used since the Great Recession. We share the few details available before the market open and discuss the potential implications for the BDC, its shareholders and for the BDC sector generally. All written in a hurry before the open, so treat with caution.
After a record week for BDC Fixed Income price drops, a reversal. We bring readers up to date on the ever changing numbers. Plus, we look ahead to what might happen under different scenarios, including the previously unthinkable.
Main Street Capital increases the size of its Revolver. The BDC’s future, though, is completely up in the air, as the BDC Reporter calculates what key numbers might look like for the BDC at the end of the first quarter of 2020.
After the worst week on record – by far – for BDC Fixed Income prices, we ask why and what might come next ?
The BDC Reporter describes the terrible, horrible, no good week just passed for the BDC sector, but cannot offer much in the way of immediate hope that we are at a turning point yet. As best we can, we look ahead as the extent of the damage to expect comes – very slowly – into focus. There are elegant solutions available here but will either the Federal government or Wall Street be up to the challenge.
What starts out as the BDC Reporter’s estimate of what might happen to Apollo Investment’s book value at the end of the IQ 2020 morphs into ideas about who might be able to save the BDC sector from the dire consequences of the current crisis, and how. A rare instance of the BDC Reporter getting on a soap box, albeit with the best of intentions.
The BDC Reporter re-publishes and annotates an important article in the financial press about an aspect of BDC liquidity in the coronavirus-era.
Great Elm Corporation announced 2019 results and its quarterly dividend. The latter, though, will no longer be paid out 100% in cash… We review the details; the reasons why and the possible consequences for the BDC’s stakeholders and the sector as a whole.
The BDC Reporter analyzes a just-released Main Street Capital press release and seeks to provide some analysis and context about what the BDC is up to in these trying times for lenders and borrowers.
With all markets in uproar – and the BDC sector down by a fifth in two days – we seek to take a fresh look at where the BDC sector stands and where we’re headed in the age of the coronavirus.
