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CM Finance: Proxy Filed

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On September 1, 2017 CM Finance (CMFN) filed its Preliminary Proxy. The BDC Reporter reviewed the document and highlights the key items of interest to shareholders; analyzes the issues raised in the filing and offers up its own view to shareholders on how to vote.

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Apollo Investment: Debt Redeemed

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On August 30, 2017 Apollo Investment (AINV) filed a notice of its intention to redeem one of its two publicly traded Notes. Here are the details and what the trends are for redemptions and new issuance in the BDC fixed income market:

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Update: Friday August 25, 2017

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Here is what the BDC Reporter is working on for Friday August 25, 2017. We prepare an update on Harvest Capital’s Baby Bonds for BDC News Of The Day and briefly discuss minor items – unless you don’t like BDCs selling stock below book- at Gladstone Investment and Triangle Capital. We discuss the stocks we are tracking and alight on Prospect Capital – just before its much ballyhooed earnings release.

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Update: Thursday August 24, 2017

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Here is what the BDC Reporter is working on for Thursday August 24, 2017. We prepare to write for the BDC Daily News about Goldman Sachs BDC; continue to watch several stocks and explain why and discuss our in-depth review of Monroe Capital.

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Newtek Business Services: Dividend Announcement/Change

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The news for the week begins with an increased distribution from Newtek Business Services. We provide details, and analysis of the newer, idiosyncratic BDC’s dividend history. We follow up with a discussion of dividend policy strategies in the BDC sector and point out some of the trade-offs involved in each approach, and where Newtek sits.

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A Few Thoughts Following BDC Earnings Season

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The BDC Reporter takes a break from dissecting the daily news and takes a look back at the latest BDC earnings season – which is mostly complete bar a few stragglers – and comes up with a few Big Picture observations. We’re not pulling any punches and pointing out a few hard truths which readers may find enlightening or maddening, or both.

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