Oaktree Strategic Income repays one financing with a new one. All part of the BDC’s attempt to leverage up to a debt to equity of 1.6x, but there’s a long way to go and key questions remain unanswered.
This was an important week for the BDC Fixed Income sector, both in the short and long term. We discuss changes underway that might feature for years to come.
The BDC Sector, after a brief downturn, resumes an upward path that dates back to the spring. That’s not surprising but readers might not expect what we have to show about the connection between adoption of higher leverage and BDC stock prices in recent months.
Another week when BDC Fixed Income prices and yields remained unmoved. But what if the risk free rate shoots up in the future as Jamie Dimon predicts ? We discuss the implications.
In the first full week after the summer BDC common stocks remain stuck in a narrow range. Plenty of individual stock activity to discuss and an unchanged outlook.
Golub Capital receives a much-requested letter from the SEC which will assist in keeping borrowing costs low. Also, an opportunity for the BDC Reporter to discuss little understood funding risks.
The BDC Reporter provides an update on the credit performance and outlook for WhiteHorse Finance.
One rating group downgrades Hercules Capital from investment grade, another moves in. Another example of the changing dynamics of BDC debt credit ratings.
BDC Fixed Income prices did not do much this week, but there were other notable developments which augur busy times ahead for chief financial officers at funds across the sector.
A pull-back in the BDC sector in this holiday shortened week, and a couple of unexpected developments. To the BDC Reporter,though, the outlook remains the same.
Hercules Capital adopts the new asset coverage rules and asks shareholders for their blessing. This is Big News in more ways than one, and we discuss the implications for the BDC and the sector generally.
WhiteHorse Finance comments on a major insider block sale. The BDC Reporter offers analysis of who owns what and its own two cents.