PennantPark Investment highlights several portfolio investment gains but the BDC Reporter finds the full picture of IIIQ 2020 results more complex.
For a second quarter in a row Oaktree Specialty Lending outperforms by most metrics. We count the ways but also point out potential weaknesses in a much improved BDC that’s about to get bigger by swallowing up its sister fund.
Great Elm discusses its new investment strategy – following a rights offering- on the IIIQ 2020 conference call. The BDC Reporter provides context and highlights both upside and downside.
Week three of BDC earnings season was also week two of a mighty rally in prices. We discuss causes, impact and the likely way forward with the end of this worst of years in sight.
The BDC Reporter has much to say about FS KKR Capital’s results and conference call commentary.
Barings BDC had a favorable IIIQ 2020, credit losses notwithstanding. The BDC is undergoing numerous changes, which we discuss.
Bain Capital Specialty Finance had a good third quarter 2020 by all measures but – burdened by the mistakes of the past – the outlook for the dividend remains gloomy.
OFS Capital surprises with a better-than-expected IIIQ 2020. However, uncertainties continue to abound.
BlackRock Capital Investment – despite bearing a highly respected name – had yet another poor quarter – possibly the worst of any public BDC.
The best performing BDC common stock of 2020 – Horizon Technology Finance – hits a speed bump with its IIIQ 2020 results.
Capitala Finance provides a third quarter 2020 positive surprise but long term questions abound.
BlackRock TCP Capital may not be back to its pre-Covid earnings and dividend level but another positive quarter is in the rear view mirror.
For Stellus Capital Investment the IIIQ 2020 was not very different than the prior quarter.
We count the many ways Capital Southwest performed well in IIIQ 2020 and one potential cause for concern.
The expectations of the management of Fidus – and the BDC’s result – have swung wildly in the last 6 months. In the IIIQ 2020 most everything’s coming up roses.
Going by the key metrics Hercules Capital had a good IIIQ 2020, with one notable exception. The BDC Reporter has a first look.
The two public BDCs managed by Oaktree Capital are going to merge in a transaction that will be favorable to Oaktree and – to a lesser degree – to the two sets of shareholders involved.
This quarter, instead of annotating BDC conference call transcripts, we’re experimenting with providing our view of the highlights, and offer up a selection of key quotes. We begin with the Ares Capital IIIQ 2020 conclave.
Prior to the conference call, the BDC Reporter summarizes Ares Capital’s third quarter 2020 results from a reading of the press release and a quick glance at the 10-Q.
As October draws to a close, a new BDC-financed company files for Chapter 11. We re-publish an article from the BDC Credit Reporter and put this bankruptcy in context for a difficult year in credit.
