BDC sector prices move up after a week’s pause but remain well below the April highs. We discuss the credit challenges ahead and how prices might respond.
No great surprises from Golub Capital’s IIIQ 2022 conference call, but confirmation that earnings and distributions are headed higher to record levels.
BDC prices slip back after several weeks in the black. With 5 weeks left in the year, we assess where the sector stands.
The BDC Reporter offers up highlights from Gladstone Capital’s latest conference call, our conclusions and an edited version of the transcript.
The IIIQ 2022 saw WhiteHorse Finance report very stable results. However, there are clouds on the horizon that might or might not impact the BDC.
Blackstone Secured Lending – on its first anniversary as a public BDC – had a very good IIIQ 2022. Valuation-wise, though, this behemoth of a BDC is under-appreciated.
We discuss why Trinity Capital has announced a stock repurchase program and whether that will revive its out of favor stock price.
We summarize Bain Capital’s IIIQ 2022 performance, offer up areas of concern and review the bDC’s valuation.
Good news on inflation lifted all boats, including the BDC sector.We discuss what needs to happen for the rally to continue.
The BDC Reporter highlights the key issues involving BlackRock Capital Investment, drawn from its recent conference call.
Ares Capital returns to the equity markets for yet another secondary. We review the numbers and the implications.
We annotate where we can a very brief Oxford Square IIIQ 2022 earnings conference call.
We begin by describing how the BDC sector held up price-wise for the week. We follow up with our thoughts about what might happen to the BDC sector in the critical quarters to come.
Here are the key issues drawn from Goldman Sachs BDC’s IIIQ 2022 reports and the BDC Reporter’s comments thereon.
The BDC Reporter highlights five key take-aways from Hercules Capital’s just announced results.
BlackRock TCP Capital increases its regular distribution and may need to raise again shortly based on earnings expectations.
A venture debt famous for maintaining a very stable dividend level for years has just announced a big increase for 2023. There may be even more to come.
Main Street’s distribution levels continue to rise, breaking records along the way. We project the BDC’s total payout for 2023 with 2022 in the bag.
Capital Southwest’s IIIQ 2022 earnings conference call makes interesting reading about future earnings, distributions and credit.
We re-publish an article from the BDC Credit Reporter about a portfolio company of Cion Investment which has just filed Chapter 11.