Ares Capital issues new unsecured debt at a historically low yield. The BDC Reporter reviews the implications for the market leader and for the sector generally.
New Mountain Finance announces an extension of its share repurchase program. The BDc Reporter uses the opportunity to review the BDC’s history and approach to buying back its own stock.
A public company, which is in the portfolio of three different BDCs, has been charged with accounting fraud by the SEC, as recently mentioned in the BDC Credit Reporter. We re-publish the article and discuss which BDCs are involved and for which dollar amounts.
2020 is finally over and the BDC Reporter recaps how the last two weeks – and the year – closed out.
Harvest Capital has provided some updates on underperforming portfolio companies in advance of its merger with Portman Ridge. We use the opportunity to review the BDC’s credit position.
Harvest Capital is to merge into Portman Ridge, continuing a public BDC consolidation process. We analyze what we know about the merger but also look at the bigger picture of a changing BDC landscape.
A portfolio company of Medley Capital is involved in Operation Warp Speed. We discuss the possible implications for the BDC’s shareholders.
Fidus Investment issues new unsecured debt which breaks new ground in terms of pricing and size.
The BDC Reporter has de-constructed Medley Capital’s large cohort of underperforming portfolio companies to ascertain what value remains in this worst performing BDC.
Medley Capital closes BDC earnings season with predictably poor results and leaves the BDC Reporter rhetorically asking: “What’s next ?”
The BDC Reporter annotates BlackRock Capital’s conference call transcript regarding anything related to credit following a disastrous IIIQ 2020 performance.
Gladstone Capital taps a buoyant market for new unsecured BDC debt. We analyze the impact on GLAD’s capitalization, liquidity and earnings and on the broader BDC fixed income market.
The BDC Reporter annotates Barings BDC’s IIIQ 2020 conference call transcript, but only where credit issues are concerned. Second in a series.
BDC Fixed Income prices remain at post-Covid highs and new issuance robust. The BDC Reporter looks back on a difficult year for debt investors and comes to a couple of heartening conclusions.
The BDC Reporter tries something new: annotating and commenting on the sections of BDC conference call transcripts that deal with credit matters. First up: Gladstone Investment.
We re-publish an article from the BDC Credit Reporter about the restructuring and realized loss of a Golub Capital portfolio company.
Owl Rock Capital issues new unsecured debt. The BDC Reporter discusses what makes this offering notable.
Golub Capital’s fiscal fourth quarter results live up to the BDC’s reputation for reliability, which was briefly lost earlier in the year. Still, the BDC still has a major challenge ahead…
We re-publish posts from the BDC Credit Reporter about developments at seven Apollo Investment portfolio companies. There’s plenty going on.
For the third time in a row, the BDC Reporter undertakes a quarterly review of Apollo Investment’s credit performance and outlook.
