Not much to report in terms of BDC credit developments. This gives us the opportunity to argue why more bankruptcies might be a Good Thing for BDC investors.
The markets have been battening down their hatches, expecting a weak September. For the BDC sector, this first week was not too bad. We also discuss a key merger and a long anticipated filing.
CION Investment has renewed its share repurchase program. We use the opportunity to ask if the BDC’s buyback program makes any difference to its shareholders.
After hours on September 6, 2023 BlackRock announced its intention to merge the two public BDCs under their control. We offer a hot-off-the-presses review and our thoughts on the benefits that might accrue to both sets of shareholders.
We use the opportunity of PennantPark Floating Rate’s latest dividend announcement to discuss the cBDC’s recent performance and possible outlook at a time when its stock is out of favor.
Our credit scorecard for the week shows no bankruptcies of BDC-financed companies, but there was a downgrade at one company and likely very bad news at another and much else to discuss.
The BDC rally is back after a three week hiatus. We discuss how many BDCs are benefiting and how 2023 might turn out for the BDC bulls.
A portfolio company of Prospect Capital is in serious trouble. The BDC faces a significant loss of both value and income.
The number of issues – and issuers – in the BDC Fixed Income Table continues to increase.We have been updating one of our key Subscriber Tools.
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.