Out of the blue a BDC seeks to switch managers and two others prepare to merge, but all are related.
The BDC Reporter has several breaking BDC-related news stories to discuss in our daily summary, plus two important credit developments.
The BDC Reporter previews what we’ll be looking for in Horizon Technology’s upcoming IQ 2021 results.
We’ve made a tiny correction to Part II of the Ares Capital IVQ 2020 credit review, which appears in the first sentence.
In Part II of the Ares Capital IVQ 2020 credit review, the BDC Reporter looks at the BDC’s underperforming companies whose debt is still current and draws some overall conclusions.
Here is the first part of a two part credit review of Ares Capital. The BDC’s own numbers suggest credit conditions remain far worse than before the pandemic. We also review all the major non performing portfolio companies one by one.
Based on a recent Bloomberg article, the BDC Reporter compares BDC bankruptcy performance in the IQ 2021 against broader corporate failures. Our conclusion may surprise you.
We re-publish an article from the BDC Credit Reporter about developments at Sequential Brands that could materially impact FS KKR Capital and FS KKR Capital II.
The BDC Reporter undertakes a detailed credit review of Capitala Finance.
The BDC Reporter undertakes a detailed credit review of Capital Southwest Corporation.
The BDC Reporter undertakes a detailed credit review of WhiteHorse Finance.
Investcorp Credit Management BDC issues new unsecured debt to refinance its only Baby Bond outstanding. We discuss the impact and implications.
Horizon Technology Finance is refinancing its existing only Baby Bond with a new public issue. We analyze the impact on leverage, liquidity and earnings.
Barings BDC closes out IVQ 2020 BDC earnings season.
Saratoga Investment raises its quarterly dividend by one cent. Again.
In most ways Oxford Square Capital performed well in the IVQ 2020 but the BDC Reporter has some concerns and a big question left unanswered.
Corrected: PennantPark Floating Rate issues new unsecured notes. The BDC Reporter analyzes the pro-forma impact on the balance sheet and earnings.
A famous retailer – just out of bankruptcy is poised to tap the capital markets. Sixth Street Specialty Lending appears poised to benefit.
Ares Capital is receiving various new price targets from analysts. We discuss the valuations within a broader context and share our own approach.
We re-publish a IVQ 2020 update from the BDC Credit Reporter about Great Elm Capital’s largest portfolio company investment – Avanti Communications.
