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.
Everybody’s favorite BDC has announced its final distributions for 2023 and all appears to be going very well.
We can now report how many companies in the Ares Capital portfolio are on non-accrual. When added to the data already purloined from the BDC’s latest 10-Q, the credit picture is very clear.
A Monroe-financed media company has filed for and exited bankruptcy within the space of a few months. We estimate the impact on the BDC’s income and net book value .
Hercules Capital is back to increasing its regular distribution after a short hiatus. We discuss the BDC’s recent payout history and speculate on the way forward.
There was one bankruptcy this week and two BDCs reported their latest portfolio valuations. We learned a great deal , and updated the BDC Credit Table with the latest data.
The BDC bull charges on for another week. Where is the BDC sector headed? We offer up one possible scenario borrowed from our sister publication – BDC Best Ideas.