Here are selected highlights from Monroe Capital’s IVQ 2024 conference call which suggest 2025 promises to be a difficult year.
Although the BDC sector was down price-wise overall in Week 9, the rally continues. We review all the usual metrics and compare them to the broader market. Finally, we share our greatest concern about what might derail the market.
In something of a shocker, Goldman Sachs BDC has announced a huge cut in its regular dividend. We review why this has happened and what sort of payout shareholders should expect going forward and offer our opinion on how management could have done better.
We use the opportunity of MidCap Financial reporting its IVQ 2024 results to analyze what is happening to the BDC’s loan spreads, and what that might tell us about the BDC sector more generally.
Hercules Capital has extracted itself from a difficult credit situation with the sale of a troubled gene therapy portfolio company.
The BDC rally marches on, running ahead of the main markets. We review how broad-based the upsurge has been both this week and in 2025 YTD. We close with some thoughts about where we might go from here.
On its IVQ 2024 earnings conference call, Blue Owl Capital covered three disparate subjects – each of which is important to the BDC and to investors in the sector more generally.
Saratoga Investment surprises the market with two changes to its dividend policy.
All the markets were up this week, including a jubilant BDC sector where almost everyone was in the black as a post-election rally continues. With prices at record highs, what could possibly go wrong ?
In a departure from our regular analysis heavy articles, the BDC Reporter re-prints thoughts from the BDC Credit Reporter about credit conditions in BDC-land and how best to detect a change.
Prospect Capital is re-making itself and in the IVQ 2024 we got a first glimpse at the initial results of the BDC’s re-positioning efforts.
We review how BDC prices fared in the first week of earnings season and as the broader markets pulled back a little. However, we also speak to the big picture because BDCs are far from immune from what happens in the news headlines.
We review some key findings from Capital Southwest’s earnings release for the quarter ended December 31, 2024 and complain – a little – about how management doles out its quarterly results.
The main indices while the BDC sector zagged this week and ended the month in rally mode. We look at the numbers, discuss the possible causes – and importantly – focus on what might go wrong as we march further into 2025.
TriplePoint Venture Growth is issuing new unsecured debt. We analyze the potential impact on the BDC’s earnings over the short and medium term of this new debt.
There is a new public BDC: MSC Income Fund, managed by a subsidiary of Main Street Capital. The IPO has occurred without any trouble and the BDC Reporter is beginning coverage – bringing the total number of BDCs we track to 46.
This article discusses both Nuveen Churchill’s new unsecured note offering – a non-controversial subject. However, we also tackle “spread erosion” occurring at the BDC and across the sector – an unpleasant reality that rarely gets tackled – and offer a warning.
The major indices moved up sharply this week as did – not coincidentally – the BDC sector. We review the week’s performance; have a look at where the sector stands after four weeks of 2025 and offer up a notion on what might drive price performance in the year ahead.
In a momentous development – albeit long expected = a new public BDC is coming to market, sponsored and managed by one of the most popular BDCs out there – Main Street Capital.
This week the markets – including the BDC sector – were sharply up after being just as sharply down the week before. We review the lay of the land in advance of the new administration and IVQ 2024 earnings season.