The BDC sector had a mediocre week price-wise but not as bad as the major indices. With little breaking news to report, we review in detail 2024’s performance to date and identify the winners and losers.
Both the major indices and the BDC sector had a loss-making week but the damage to both was only modest whatever the headline writers suggest. Also, the macro environment might provide BDC prices with a boost if new credit difficulties don’t spoil things.
The week, March and the first quarter of 2024 end on a stronger note but well behind the broader market. We review who has prospered and who has been left behind this week and this quarter and evaluate how much room is left for further price growth.
The BDC sector is up slightly on the week and for the year. However, the BDC Reporter points out underlying weaknesses just below the surface and speculates as to the reasons.
BlackRock TCP Capital has acquired its sister BDC BlackRock Capital Investment and updated its net book value per share as of March 15, 2024. The news is not good.
Oxford Square Capital is the before-last BDC to publish its 2023 results. Our credit review finds deterioration across several different metrics, raising our level of concern about the ability of the BDC to perform normally where credit is concerned.
The BDC sector is flat in the week but look a little closer and you’ll find there’s plenty to be worried about.
BDC sector prices outperformed the major indices this week but the BDC Reporter is worrying about what might be coming next as BDC earnings season has not met our expectations.
We’ve undertaken a “deep dive” into FS-KKR Capital’s credit performance following a disappointing IVQ 2023 which has caused the BDC’s stock price to drop sharply.
The BDC Reporter has thoughts about the sudden – and unexplained – changing of the guard at Carlyle Secured Lending.
BDC prices are not keeping up with the red hot rally going on in the major indices and around the world. We hypothesise as to why and discuss BDC fundamentals following the release of ever more IVQ 2023 results.
The holiday shortened week saw the BDC sector move up along with the main markets. We discuss the week’s biggest price winner and price loser and offer up our preliminary thoughts on what 2024 fundamentals might look like.
The BDC sector is back to its winning ways as the major indices head in the other direction. We review the metrics and then calculate – based on historical data – how much further the sector could increase in price. We also hear from a Bull and a Bear but leave ourselves the final word.
The S&P 500 is finding new heights, but the BDC sector is being left behind. We review the latest metrics and discuss what might come next.
Republished from the BDC Credit Reporter: This “Amazon Aggregator” is in deep financial trouble and the latest valuation from one of its 9 BDC lenders has only deepened the gloom and increased the prospect of major losses up ahead.
The Fed caused the BDC sector to drop in price this week. One BDC in particular faced a price plunge but not for anything Chairman Powell said. We discuss what happened and explain why this week’s loss might be the exception rather than the rule going forward.
The BDC rally continued for yet another week and there are no obvious catalysts for a change in direction. We discuss where the sector has been and could be headed to price-wise.
In Part II of our introductory review of new BDC Palmer Square Capital BDC, we forthrightly offer up our views as to its strengths and weaknesses for investors.
There’s a lot to discover about the newest public BDC – which had its IPO just two days ago. Here – In Part I – we cover all the key facts BDC readers will want to know. In Part II, we’ll offer up our opinion on what we’ve learned. Includes a correction we made about the management fee charged.
