The week, March and the first quarter of 2024 end on a stronger note but well behind the broader market. We review who has prospered and who has been left behind this week and this quarter and evaluate how much room is left for further price growth.
Logan Ridge Finance has released its 2023 10-K allowing the BDC Reporter to undertake our review of the BDC’s financial performance. This also signals the end of the IVQ 2023 BDC earnings season.
For the first time in months, a BDC is raising unsecured debt in the public Baby Bond market. We analyze the costs and spell out the benefits for Trinity Capital and its shareholders.
After a few days hiatus, the BDC Reporter is back to writing credit reviews. The data suggests Bain Capital Specialty Finance is in good shape and has been improving in recent years.
As Prospect Capital’s financial performance weakens, its Chairman’s share ownership increases. We have a view on this.
The BDC sector is up slightly on the week and for the year. However, the BDC Reporter points out underlying weaknesses just below the surface and speculates as to the reasons.
An already credit-troubled TriplePoint Venture Growth faces the possible bankruptcy of one of its portfolio companies.
BlackRock TCP Capital has acquired its sister BDC BlackRock Capital Investment and updated its net book value per share as of March 15, 2024. The news is not good.
At long last, newly public Palmer Square Capital has announced both its first quarter 2024 distributions and its methodology for future payouts. We calculate likely returns and discuss the outlook for the BDc’s payouts through to 2026.
Oxford Square Capital is the before-last BDC to publish its 2023 results. Our credit review finds deterioration across several different metrics, raising our level of concern about the ability of the BDC to perform normally where credit is concerned.
The BDC sector is flat in the week but look a little closer and you’ll find there’s plenty to be worried about.
Trinity Capital has gotten around to announcing its regular distribution for the IQ 2024. We discuss the BDC’s history of making payouts and offer up a projection – drawn from our sister publication – of the 2024 amount. Is the dividend headed even higher?
BDC sector prices outperformed the major indices this week but the BDC Reporter is worrying about what might be coming next as BDC earnings season has not met our expectations.
The BDC Reporter rates Runway Growth Finances’s fourth quarter and full-year 2023 financial performance, looking at earnings, net book value, credit and the dividend. Best read in conjunction with our BDC Summary Results;IVQ 2023 Table and the BDC Credit Table and the BDC NAV Change Table.
After updating the BDC Credit Table with the latest data, we review Trinity Capital’s recent and long-term credit performance.
We’ve undertaken a “deep dive” into FS-KKR Capital’s credit performance following a disappointing IVQ 2023 which has caused the BDC’s stock price to drop sharply.
The BDC Reporter has thoughts about the sudden – and unexplained – changing of the guard at Carlyle Secured Lending.
BDC prices are not keeping up with the red hot rally going on in the major indices and around the world. We hypothesise as to why and discuss BDC fundamentals following the release of ever more IVQ 2023 results.
We take a deep dive into Bain Capital Specialty Finance’s quarterly and full-year 2023 results and find much in the way of positive developments.