Both the BDC sector and the major indices were in the black after several days for both in the red, but uncertainty remains. We also report on a prospective new cannabis-related public BDC.
The markets and BDC investors were worried – but not too much – about war in Europe and high inflation. In terms of news, a large cap BDC added a joint venture string to its bow.
Inflation/interest rate worries caused all the major indices to pull back. This included the BDC sector, but only modestly. Two players published their results. Plus, we remind readers of the wealth of data on offer for those who like to do their homework where BDCs are concerned.
The major indices all moved up on Wednesday but the BDC sector slipped for reasons unclear. Besides Ares Capital, the two PennantPark BDCs reported strong results and a dividend increase to boot.
All the indices were in the black and were joined by the BDC sector, which continues to trade towards a record level. Two very different BDCs reported results and a conference call was held. All in all, BDC earnings season grinds on with very little in the way of unpleasant surprises.
The major indices were “mixed” at best, but the BDC sector forged on. A tiny BDC reported apparently good results, a large BDC prepared to raise additional equity and a new BDC with a unique strategy was launched.
The major markets balked at Meta’s results but the BDC sector fell only modestly. There was plenty of news, including earnings releases, a new acquisition, a dividend announcement and credit updates. We’re busy and getting busier.
An up day for the major indices, flat for the BDC sector. Plenty of news including an earnings release; a dividend and some big equity gains getting harvested.
The markets were in the black on Tuesday and the BDC rally continued. There were multiple news items, including an increased dividend and new senior managers at a large cap BDC plus positive credit developments at Capital Southwest.
January ended well for the markets in general and the BDC sector specifically. In terms of news, an analyst had a strong view about Crescent Capital and we share some credit thoughts from S&P.
The BDC sector was up on the day, judging by its exchange traded fund, but clearly down based on the number of stocks in the red. Also, we re-publish a credit snapshot of Barings BDC, prepared by the BDC Credit Reporter.
The broader indices were mixed but the BDC sector was clearly up following the latest Fed decision. There was little BDC news to digest.
For a second day, the markets were all over the place but the BDC sector moved up in price. We discuss how BDCs have performed so far in this mini-crisis. Otherwise, we learn more about a new portfolio company at Horizon Capital and a troubled borrower causing worries for two public BDCs.
What began as a terrible day for BDC investors ended up not too badly, but still behind what occurred to the major indices. We run the numbers and determine where the sector stands. Also, we identify a new underperforming BDC portfolio company owned by multiple players.
The major indices – and the BDC sector – continue to slump in price. News-wise, nothing to flag but there was an important recapitalization of a company financed by two BDCs.
The major indices dropped again. This time the BDC sector followed, but remains close to its highest levels. Outside of Main Street’s IVQ 2021 update – covered in a separate article – there were two credit developments worth knowing about.
A strange day in the markets is dissected by the BDC Reporter. In terms of news, Ares Capital issued new shares to its underwriters and Stellus Capital declared IQ 2022 distributions.
The markets – and the BDC sector – suddenly drop sharply. We also discuss Saratoga Investment’s latest unsecured note offering – instructive in many ways.
The BDC rally rolls on, breaking new records. In major news, the leading BDC is selling new stock and a venture debt BDC provides a preview of some key data.
Both the major indices and the BDC sector disappointed on Monday. However, there was plenty of news including two BDCs reporting activity levels, a closed half billion dollar unsecured note offering and two credit updates.
