One of the largest BDCs reveals its recent investment activity. Will that bring investors back ?
With everyone anxious about what might be happening in the venture-backed sector, we’ve undertaken a deeper-than-usual dive into Runway Growth’s investment activity for the IQ 2023, and just released.
We use the opportunity of two recent BDC announcements to analyze what might be coming in 2023 and beyond in terms of the form and level of payouts to BDC shareholders. How this plays out could impact BDC stock prices and shareholder returns for years.
Fitch gives Hercules Capital a thumbs up.
This is the first week of the IIQ 2023 and the BDC Reporter curates and comments on all BDC-related news.
Is the BDC sector on the edge of a credit cliff ? We seek to address the issue by analyzing a new report on U.S. bankruptcies and drawing on our own BDC data.
The venture sector is all over the headlines these days. We’ve got multiple news items to review affecting the BDC lenders involved in this corner of the market.
It’s the last week of what has been a topsy turvy first quarter of 2023.
The BDC Reporter is focusing its weekly Credit Recap on discussing developments reflected in the BDC Credit Table – an invaluable subscriber tool. We begin with the latest from Oxford Square Capital.
Ironically, as the banking world thrashed around all week – with concerns about bank failures – there was only a modest amount of credit news – some of which was even positive.
Trinity Capital announces one quarterly dividend but omits another shareholders were getting used to. We discuss what investors might expect in the rest of the year.
An asset-based lending subsidiary of Hercules Capital is expanding. The BDC Reporter analyzes the move and how the investment has performed over the last 5 years.
Not very surprisingly Sixth Street Specialty claims no material exposure to you-know-who. More intriguing is their discussion of leverage and liquidity which raises sector-wide issues.
Hercules Capital wants its stakeholders to know that the BDC is financially strong, liquid and had no banking relationship with Silicon Valley Bank. As we discuss, this might be a golden opportunity for the BDC, but it might not – depending on the wider fall-out from this crisis.
Runway Growth Finance is the first BDC out of the blocks to comment on the situation following Silicon Valley Bank’s sudden demise.
In a dramatic week thanks to the sudden failure of Silicon Valley Bank, actual credit developments amongst troubled BDC-financed companies were normal. Still, credit matters might be about to change…
After years of not holding an investor call, PhenixFin opted to do so on March 8th. We highlight the main points made and tell you what we’ve learned and what not.
The Fed talks about higher rates for longer – again. All the markets take a dip. This includes the BDC sector – one of the biggest potential beneficiaries. We explain why.
Goldman Sachs BDC has surprised us a little and announced a secondary stock offering. We review the background and the numbers while awaiting the final price.
In a rare occurrence of late, a public BDC has raised unsecured debt. Even more interestingly, the financing is not a standard 5 year, fixed rate instrument. We discuss the implications for both the BDC involved and for the sector.
