There were no bankruptcies of BDC-financed companies this week, but there were 3 significant corporate downgrades.
BDC sector prices moved very little in these dog days of summer and the rally remains in play. However, the BDC Reporter could not help but look into a glass darkly when reviewing what may lie ahead.
Blackstone Secured Lending is a very big BDC so it’s appropriate that the BDC Reporter has undertaken a very long annotation of the most recent earnings conference call in an effort to review the BDC’s performance and outlook.
In an 8-K TriplePoint Venture Growth reveals details of a long anticipated loan repayment.
An investment banker gives a thumb’s up to a newer venture-debt BDC. We use the opportunity to review the metrics and discuss what could yet come to pass.
The credit trends – both in the BDC sector and amongst non-investment grade companies generally – continue to worsen. However, deciphering what to make of all this is a complex matter, which we seek to address.
We are re-publishing an article from BDC Best Ideas , updating long-term projections for Barings BDC following an in-depth review on all fronts.
The BDC rally is on hiatus – as is the case across all the major indices. We review how far – or how little – the sector’s prices have fallen. Also, we discuss why we’re more optimistic about the long-term outlook than the analyst community.
We use the opportunity of WhiteHorse Finance’s new Baby Bond issuance to review recent developments in the BDC fixed income market.
A full review of Bain Capital Specialty Finance’s IIQ 2023 performance and expectations for the future.
An analyst downgrades PennantPark Investment despite its ever-increasing dividend level. We analyze the long term data to see why that might be.
Saratoga announces its latest quarterly distribution, giving the BDC Reporter an opportunity to analyze the BDC’s recent payout performance and summarizing the most recent valuation metrics.
Default and bankruptcy numbers keep getting worse yet the markets for leveraged debt are ever-improving. We explain why we think that’s the case and suggest the BDC sector’s credit performance might also cause a surprise, and why.
The BDC rally is on pause, but far from over. We review the metrics and predict where earnings and dividends are headed in the next few quarters, likely to greatly influence future prices.
We re-publish from the BDC Credit Reporter an article about a major credit loss at Carlyle Secured Lending in the healthcare field.
The BDC Reporter focuses on two items of special interest in FS-KKR Capital’s latest earnings conference call.
We learned a great deal more about BDC credit conditions as more and more second quarter results are divulged. However, the overall credit picture is not much altered.
The major indices may have slumped this week, but the BDC sector still had price momentum and the rally goes on for almost everyone. What could possibly go wrong ?
Trinity Capital has just completed a secondary stock offering. We analyze the metrics involved; the valuation of the BDC and its longer term outlook as a venture lender.
TriplePoint Venture Growth’s stock price is getting hammered after reporting results while Horizon Technology’s is not. Both, though, face similar challenges.