A no good, very bad day for the markets and for BDC investors on Monday. We look at what BDC stocks went down and which very few went up. Also, a tiny BDC announces the acquisition of a finance company. We evaluate what information we can.
The BDC Reporter undertakes a deep dive into the credit status of Monroe Capital at June 30, 2021.
The indices mostly dropped modestly on Thursday, but the BDC sector was somewhat worse. There was no news to review, but we made progress dissecting a mid-sized BDC’s credit performance status.
After several days of angst, the major indices – and the BDC sector – bounced back with vim and vigor. Also, a mid-sized BDC increased its regular distribution for a second quarter in a row. We discuss what that might mean for the stock price.
All the major indices were in the red, including the BDC sector – just less so. At long last, a smaller BDC published its 10-K, officially ending BDC earnings season. Also one large cap BDC added new lenders and another made a presentation at a (virtual) conference.
The major indices – and BDC sector prices – were mixed on Monday. On the news front, a leading venture debt player raised a substantial amount of debt at a very low rate. We discuss the implications , both in the short term and long term.
BDC sector prices moved in a surprising direction given the across the board drop in the major indices. Also, we review a dividend announcement and identify potentially very good news at a troubled portfolio company of a mid-sized BDC.
All the major indices were in the red on Wednesday, but the BDC sector held up better than might have been expected. News was limited to the basic details of a new transaction financed by an ever busy mid-sized BDC. We dig a little deeper and provide more background details.
The first day of the business week did not go well for the BDC sector. We discuss the details. Also, we review new investments by a popular BDC; new unsecured debt planned by a venture-debt behemoth and new equity raised by a pint sized player.
September began very slowly where BDC prices were concerned, and there was no news to report. On the credit front, though, we learned more about how the bankruptcy of Sequential Brands might play out. That’s important to two large BDCs.
August ended with a whimper where the major indices, and the BDC sector, were concerned. We run the numbers and discuss a just redeemed Baby Bond and a major corporate bankruptcy affecting two large cap BDCs.
The BDC Reporter undertakes a full fledged credit review of Capital Southwest as of the IIQ 2021. We both look back on how credit conditions have changed since the pandemic, and look forward as well.
With one day to go in August, BDC stock prices mostly fall, but not very far. Given the calendar – and the end of earnings season – there’s no news to report except that we’re preparing a detailed credit review of a highly popular BDC.
The upsurge in market – and BDC – prices hits a pause. Also a smaller player sees its stock drop and a large cap BDC wants to buy back its own debt yet again.
The rally in everything – including BDC prices – marches on. Also, two BDCs report results, including NAV Per Share trends headed in different directions and another unsecured debt offering gets closed.
The major indices break new records and the BDC sector is not far behind. We also review a new unsecured debt offering by a mid-sized BDC getting underway and have a look at the high level of deal doing underway in the market.
All major indices – and the BDC sector – moved up in price on Monday. Some records were broken. There was news about an expected reverse stock issuance for a small BDC and lowered financing costs at a major player. We also synthesize several studies to discuss the outlook for leveraged lending, partly leaning on data in the BDC Credit Table.
BDC sector prices came roaring back after Thursday’s sharp drop. Otherwise, though, there was little news except that credit conditions continue to improve.
BDC prices – but not the major indices – hit an air pocket. We speculate as to the reasons and explain why we’re not sweating – yet. We also mention some miscellaneous BDC news.
We undertake an in-depth review of Apollo Investment’s portfolio and a multitude of underperforming companies. The BDC Reporter names names and projects what likely ultimate losses might look like.
