Two big changes are happening at the BDC Reporter: We are asking everybody to register so we can get to know our readers better and so we craft a better publication and we’re launching our first Premium subscription service. We want to let our readers know the whys and wherefores as the BDC Reporter undertakes a major transition.
Securus Technologies Holdings is being sold and all its debt repaid. 6 BDCs with $54mn in exposure are going to get paid off and will have to decide whether to join the new debt being arranged. Details here.
REVISED: The BDC Credit Reporter corrects an earlier version of this story about Gymboree Corporation’s impending default on unsecured Notes and the possible impact on two BDCs with exposure: TCP Capital and KCAP Financial .
In BDC News Of the Day, the BDC Reporter has a look at Capital Southwest’s 10-K and Conference Call and comes away with a few notable insights into distribution policy, credit risk and the relationship with the SBIC.
In BDC News Of The Day, Horizon Technology Finance puts the finishing touches on a prospectus that includes the potential sale of 7.7% of its stock by an existing shareholder.
A BDC News Of The Day follow-up on the details of the MVC Capital sale of one of its subsidiary to a public utility company as contained in a just filed 8-K.
In BDC News Of the Day, Capital Southwest reports fiscal year and quarterly earnings. The BDC appears to be doing well in its first year as a lender-focused BDC, but the BDC Reporter cannot help but point out some concerns.
Following the BDC News Of The Day reporting on the new deal announced by MVC Capital, the market has reacted to the news.
Ares Capital just made a presentation to institutional investors at a conference. The BDC Reporter reviews the arguments and facts advanced by the now largest BDC, and cannot help adding a little context that investors might want to consider.
TCP Capital reports on results of its shareholder meeting regarding the election of 7 Directors and the issuance of shares below Net Asset Value, if required. The best surprise is no surprise- for BDC Investment Advisors at least.
At Medley Capital, a special purpose vehicle called Medley Seed Funding I,LLC continues to buy the common stock at a breakneck pace. Here are the latest facts and the impact on the BDC’s stock price.
In Breaking BDC News Of The Day, MVC Capital switches up its prior plan to merge two controlled entities, and finds a new buyer for its electric utility portfolio company. The BDC Reporter had a look immediately upon the release of the change of heart and sets out what the result might be for MVC shareholders in dollars and cents.
Capitala Finance is redeeming its Baby Bond with the ticker CLA. The market responds.
The BDC Reporter reviews the sustainability of Garrison Capital’s $0.28 quarterly distribution in the year ahead. Is maintenance of the current pay-out Likely, Possible or Unlikely ?
BDC common stock prices crawl back up modestly. The universe of Baby Bond universe shrinks, but prices remain high.
In BDC News Of The Day, Medallion Financial’s CEO buys a small Baby Bond position position, as revealed in a Form 4 filing. Both the debt and the common stock jump up in price.
In BDC News Of the Day, TICC Capital sees two directors depart and not replaced. The BDC Reporter is speechless.
The BDC Daily News provides all the details of PennantPark’s Baby Bond refinancing, and follows up with a wide ranging discussion of cost savings, compensation and risk. We cover a great deal of ground and place this transaction in a bigger BDC context eight years into the never-ending economic expansion.
The BDC Reporter takes a break from posting the BDC Daily News and takes a Big Picture look at the increasing popularity of leveraged lending with investors in Part I of a two part series.