The major indices remain on fire and the BDC sector – this week anyway – as well. We review the latest metrics, discuss sector performance YTD and muse about what earnings season might bring.
Horizon Technology – best with credit challenges – has chosen to issue a small amount of convertible debt. We review the details and the implications.
In anticipation of BDC earnings season, we preview how Barings BDC might perform across a range of metrics and both in the coming results and longer-term.
We de-construct Main Street Capital’s preliminary IIIQ 2024 results at a time when the much-loved BDC is trading close to its all-time high and at multiples its peers can only dream of.
We re-publish two articles from the BDC Credit Reporter about recent bankruptcies of FS-KKR Capital and discuss the BDC’s recent credit metrics.
The major indices remain red hot but the BDC sector continues to drag. We discuss the principal winners and losers this week and muse about what may lie further ahead.
Saratoga Investment is traditionally the first BDC to report its results (or the last, depending on your perspective). For the 3 months through August 2024 the BDC seems to be back on track after several quarters of underwhelming overall results.
A somewhat strange week with the BDC sector overall up in price but its components suggesting weakness. We review the data and look forward to earnings season which might clarify matters.
We offer up projections for how Ares Capital might perform when the BDC reports its results for the IIIQ 2024 on October 30, 2024.
We re-publishing an article from the BDC Credit Reporter about developments at an under-performing logistics company whose debt is held by 6 public BDCs from our coverage universe.
Prospect Capital has been around for 20 years and is celebrating itself in a press release. We have a look at how shareholders have fared over multiple periods.
For a third week in a row, BDC sector prices are up but still greatly lags behind the broader markets. We take a snapshot of where we stand as the third quarter of 2024 comes to a close.
There have been some ominous warnings made about the outlook for private credit of late, two of which are quoted here. We have a dispassionate look and discuss how BDC investors might fare.
As the major indices went from strength to strength, BDC metrics were more diffident. This seems reasonable enough as the Fed’s rate cuts have launched a new phase for BDCs that should significantly change what we’ve been accustomed to since the end of 2021.
Shortly after BackRock TCP reached a new 52 week price low – about which we wrote an article – a major shake-up of senior personnel has been announced, leading us to put pen to paper again.
BlackRock TCP Capital has reached – yet again – another 52 week low. We review the BDC’s fall from grace and what that has meant for investors over time.
Up and down BDC prices go. This week, the BDC sector followed the broader markets up. We review which BDCs were most affected and muse about what the future might bring as we hurtle forward into 2024.
After many years, a key equity investment of Logan Ridge Finance has been sold for a big gain. We analyze the possible impact on the BDC’s earnings power.
Monroe Capital’s stock price has been moving up sharply of late. We analyze the likely reasons and ask the obvious question: will this continue ?
The major indices had a dreadful week price-wise but the BDC sector didn’t fare as badly. Still, the sector remains well off its high and capable of heading in any direction right now.