The BDC Reporter finally gets round – with a day’s delay – to reviewing Alcentra Capital’s equity raise and sale. We look less at the details of the equity secondary and more at the many changes going on at the smaller-sized BDC “owned” by the Bank Of New York and come away “disconcerted”.
The BDC news load is getting lighter…Insider purchases at PennantPark Investment and Main Street and a management change at Apollo Investment. Speaking of the latter, look for our pending review of the latest earnings.
Most of the BDC News Of The Day except Alcentra Capital’s equity raise. We review insider purchases and sales at Medley Capital, Capital Southwest and Prospect Capital; review the fruit of MVC’s “financial engineering”; glance at Gladstone Capital’s presentation and more…
We review OHA Investment’s latest earnings, 10-Q and Conference Call and come to a dark conclusion about the future of the smallest, most troubled BDC we track
All the BDC press releases and filings listed and annotated. The only exception is OHA investment’s earnings release, which we’ll review by itself.
The BDC Reporter recaps the convoluted story of Hercules Capital’s proposed change of management form up to date, adding the latest twist in the tale from the “independent” directors of the Board. Like a good Broadway show, this is going to run and run.
As part of the BDC Reporter’s Daily News output, we review Great Elm Corporation’s IQ 2017 earnings.
The BDC Reporter updates the weekly movement of BDC common stocks (way down) and Baby Bonds (statue-like) and looks back at the more than year long rally in the former.
Capital Southwest’s Proxy filing tackles several issues, some of which should be important to the BDC’s shareholders including a new Chairman of the Board; manager compensation and a change in legal jurisdictions. Boring to many, fascinating to the BDC Reporter.
Not just another insider purchase story, but another step in a complex investment scheme where Medley Capital’s stock gets purchased by its Investment Advisor and investors brought in by Fortress Investment.
The BDC Credit Reporter has a brief look at a new set of data from the Restaurant Sector. The trend remains negative and a risk for BDC exposure.
Three analyst recommendations from May 10th for Main Street, THL Credit and Golub Capital, all from Raymond James and all with the word “cut” included in the headline.
BDC Reporter discusses the PSEC price drop, our projection about future distributions posted yesterday and what could go wrong for shareholders and what could go right. We lean to the wrong.
BDC News Of The Day snippets re: Solar Capital, TCP Capital, PennantPark Investment, PennantPark Floating, THL Credit and musings on BDC market direction.
We review Monroe Capital’s IQ 2017 results: Good, but credit and earnings challenges increasing.
Harvest Capital earnings reviewed. Lackluster, but no smoking gun. Stock headed south, but Baby Bond holding up.
American Capital Senior Floating performs better than one might have expected…
We discuss why Main Street Capital, Prospect Capital and Garrison Capital are down in price.
We review Prospect Capital’s latest results and come to the conclusion a major dividend cut is coming. We spell out why and leave readers to decide for themselves. No, we are not Short PSEC (but we did consider a position).
A stunning new development: a leading asset manager offers to be the Investment Advisor of Hercules Capital.