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Apollo Investment: Full Year Earnings And Outlook

With a little delay BDC News Of The Day reviews Apollo Investment (AINV) after FY 2017 earnings, the 10-K and the Conference Call transcript are released. Unfortunately, the BDC Reporter is not convinced the stability of book value, earnings and distribution that the Investment Advisor and shareholders crave can be counted on.

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Alcentra Capital: Stock Sale And Equity Raise

The BDC Reporter finally gets round – with a day’s delay – to reviewing Alcentra Capital’s equity raise and sale. We look less at the details of the equity secondary and more at the many changes going on at the smaller-sized BDC “owned” by the Bank Of New York and come away “disconcerted”.

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BDC News Of The Day: May 18, 2017

The BDC news load is getting lighter…Insider purchases at PennantPark Investment and Main Street and a management change at Apollo Investment. Speaking of the latter, look for our pending review of the latest earnings.

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BDC News Of The Day: May 17, 2017

Most of the BDC News Of The Day except Alcentra Capital’s equity raise. We review insider purchases and sales at Medley Capital, Capital Southwest and Prospect Capital; review the fruit of MVC’s “financial engineering”; glance at Gladstone Capital’s presentation and more…

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Hercules Capital: A Summary And An Update

The BDC Reporter recaps the convoluted story of Hercules Capital’s proposed change of management form up to date, adding the latest twist in the tale from the “independent” directors of the Board. Like a good Broadway show, this is going to run and run.

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Capital Southwest: Proxy Filing

Capital Southwest’s Proxy filing tackles several issues, some of which should be important to the BDC’s shareholders including a new Chairman of the Board; manager compensation and a change in legal jurisdictions. Boring to many, fascinating to the BDC Reporter.

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Medley Capital: Insider Purchases

Not just another insider purchase story, but another step in a complex investment scheme where Medley Capital’s stock gets purchased by its Investment Advisor and investors brought in by Fortress Investment.

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Prospect Capital: Price Dropping

BDC Reporter discusses the PSEC price drop, our projection about future distributions posted yesterday and what could go wrong for shareholders and what could go right. We lean to the wrong.

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Prospect Capital: Dividend Cut Coming ?

We review Prospect Capital’s latest results and come to the conclusion a major dividend cut is coming. We spell out why and leave readers to decide for themselves. No, we are not Short PSEC (but we did consider a position).

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