Last week of the first half of the year for the BDC Market Recap. Regular readers will not be surprised about the week’s overall trends in either common stocks or Baby Bonds, but there are individual exceptions noted.
Our main feature of the day is an in-depth look at TCG BDC Inc.’s draft Proxy, where the new BDC is asking its new shareholders to approve its Investment Advisory contract with a Carlyle Group affiliate.
BDC Exposure: $23mn
BDC Exposure: $67mn
In Breaking News, Fifth Street Asset Management sells to Oaktree Capital. The two public BDCs controlled by Fifth Street Asset Management jump in price. Just as the BDC Reporter has been expecting (except for Oaktree). We explains the whys and wherefores of the Big News, which is still very much in progress.
BDC Exposure: $54mn.
Securus Technologies is in the midst of a buy-out. Activists have challenged the deal at the FCC. The BDC Credit Reporter assesses the chances of a last minute block.
OHA Investment reaches a new price milestone. The BDC Reporter provides an update and some background reading.
BDC exposure: $137mn.
Mood Media has completed its Chapter 15 Canadian restructuring and made the move to a U.S. jurisdiction. Financial challenges remain unchanged.
Hercules Capital issues one of its regular press releases about select portfolio company activity. The BDC News Of The Day comments on how investors can or cannot use the information provided.
WhiteHorse Finance receives a nod from an analyst. The BDC News Of The Day provides the details, recaps the situation and provides full disclosure about our own activity in the common stock.
The BDC Reporter suggests a useful research tool for anyone doing BDC research, or wanting further information on the newest BDC.
A senior manager resigns at Hercules Capital. BDC News Of The Day reviews the details and discusses where HTGC sits a few weeks after its CEO sought unsuccessfully to switch its management from internal to external.
The BDC Reporter – in Part II of a multiple part series – reviews the compensation arrangements at the newest BDC: TCG BDC. Many of the terms will be familiar to BDC investors, but there are a couple of twists that both help and hinder shareholders. The BDC Reporter also discusses how compensation and strategy and credit quality intertwine.
WhiteHorse Finance’s stock price has dropped sharply. We explain the reason and speculate as to where the next direction might be.
Gladstone Investment held a Conference Call to encourage shareholders to vote on Proxy proposals. CEO David Gladstone made an argument about why shareholders should approve share issues below NAV. The BDC Reporter had something to say about that…
WhiteHorse Finance is raising new equity, but insiders are selling out a position at the same time. We review the Prospectus, offer up the key details and delineate the principal credit risks and discuss the insiders sale.
Medallion Financial publishes results of its shareholder meeting. Not a close run thing, but the BDC News Of The Day details the outcomes and discusses BDC corporate governance and what matters most.
Continuing a long running story, BDC News Of The Day reports on the latest insider purchases at Medley Capital, as well as provide readers new to the stock accumulation with useful links.
What is happening to BDC common stocks and Baby Bond prices and trends ? We undertake our Weekly Recap. Regular readers will not be surprised, but we through the exercise anyway.
Medley Capital issues 8-K filing regarding the sudden departure and immediate replacement of an independent Director, which occurred several days previously. The BDC Reporter provides what facts are known and offers up alternative conclusions to the BDC’s shareholders.