New Mountain has undertaken two initiatives that shareholders should be pleased by.
For a second year in a row CION Investment has announced a last minute “top-up” distribution. We analyze where this leaves the BDC as 2023 comes to a close.
Trinity Capital has announced its final distribution for 2023 giving us the opportunity to evaluate the BDC’s payout performance over time.
Yet another BDC taps the public “Baby Bond” market. We review both the micro and macro consequences.
The BDC Reporter digs into the data in the BDC Credit Table to review Stellus Capital’s credit status at the end of the IIIQ 2023.
Monroe Capital recently announced a quarterly distribution of $0.25. Unfortunately for the BDC’s shareholders that payout may be cut shortly. We explain why and how Monroe may not be alone in this regard.
There are no new bankruptcies of BDC-financed companies. We’ve been spending most of our time gathering data on the sector’s non-performing borrowers.
The BDC Reporter has had little to write about of late. So, we’ve turned to updating and expanding – amongst other things – the BDC Credit Table. There’s a wealth of new data available – and more coming – making for an invaluable analytical tool.
Another week without a formakl bankruptcy of a BDC-financed company, but there’s bad news coming from two companies and losses from two other restructurings.
We’ve undertaken a deep dive – using both our resources and that of the BDC Credit Reporter – to analyze the credit outlook for Barings BDC. The data we’ve collected points in two different directions.
Combining both disclosures from Ares Capital and independent analysis from the BDC Credit Reporter, we undertake a top to bottom credit review of the largest BDC.
As we get closer to the end of the year, the BDC credit picture remains relatively solid. However, there are some cracks worth keeping an eye on – some of which we highlight here.
We undertake a thorough – sometimes exhausting – review of CION Investment following the BDC’s record IIIQ 2023 results.
Five different BDCs are tapping the markets for unsecured, medium term debt – each in a different way. We review the details and explain why this is important.
As BDC earnings season has marched on, so has the breadth and depth of the credit data we’ve collected. In this week’s Update, we cover a lot of ground.
In a surprise announcement, MidCap Financial has announced its intention to acquire two closed-end funds from within the Apollo universe.
Bain Capital Specialty Finance books a major – although not unexpected – realized loss in the IIIQ 2023. We discuss the impact and which other BDCs are involved in this notable credit setback.
With BDC reporting season in full swing, there were more credit developments than usual to contend with. These include multiple downgrades and new non-accruals.
Gladstone Investment had a very good calendar IIIQ 2023 on the back of a large realized gain. Here are the highlights.
Once again Main Street Capital has announced an increase in its dividend. We analyze the BDC’s recent performance in this critical category for BDC investors.
