There are no new bankruptcies of BDC-financed companies. We’ve been spending most of our time gathering data on the sector’s non-performing borrowers.
A very good week for the major indices but not for the BDC sector. Once again, the future course of interest rates is coming to the fore, which might affect BDC stock prices in unbexpected ways.
The BDC Reporter has had little to write about of late. So, we’ve turned to updating and expanding – amongst other things – the BDC Credit Table. There’s a wealth of new data available – and more coming – making for an invaluable analytical tool.
Another week without a formakl bankruptcy of a BDC-financed company, but there’s bad news coming from two companies and losses from two other restructurings.
In the spirit of the season, BDC investors are feasting on high prices. With the end of the year in sight, we calculate how far we’ve come in 2023 and discuss whether 2024 might offer a repeat performance.
We’ve undertaken a deep dive – using both our resources and that of the BDC Credit Reporter – to analyze the credit outlook for Barings BDC. The data we’ve collected points in two different directions.
Combining both disclosures from Ares Capital and independent analysis from the BDC Credit Reporter, we undertake a top to bottom credit review of the largest BDC.
As we get closer to the end of the year, the BDC credit picture remains relatively solid. However, there are some cracks worth keeping an eye on – some of which we highlight here.
With the BDC sector – and the stock market generally – back in rally mode, we review where prices stand and where they might go before we’re all singing “Auld Lang Syne”.
We undertake a thorough – sometimes exhausting – review of CION Investment following the BDC’s record IIIQ 2023 results.
Oaktree Specialty Lending has an ominous message for investors about the credit outlook for the private credit market in 2024.
Five different BDCs are tapping the markets for unsecured, medium term debt – each in a different way. We review the details and explain why this is important.
As BDC earnings season has marched on, so has the breadth and depth of the credit data we’ve collected. In this week’s Update, we cover a lot of ground.
This was a quiet week for the BDC sector after several weeks of high price volatility. We review the numbers, show where we are with weeks to go till the end of the year and speculate on what might yet occur before 2023 comes to a close.
Barings BDC has joined 28 other BDCs in disclosing quarterly risk ratings about its portfolio. The BDC Reporter explains why this is an investor friendly move.
In a surprise announcement, MidCap Financial has announced its intention to acquire two closed-end funds from within the Apollo universe.
Bain Capital Specialty Finance books a major – although not unexpected – realized loss in the IIIQ 2023. We discuss the impact and which other BDCs are involved in this notable credit setback.
With BDC reporting season in full swing, there were more credit developments than usual to contend with. These include multiple downgrades and new non-accruals.
Sharply down, then sharply up – BDC prices have been all over the place. We review the latest high drama and look ahead to multiple future scenarios.
Gladstone Investment had a very good calendar IIIQ 2023 on the back of a large realized gain. Here are the highlights.