Week One of 2025 was relatively quiet and unassuming for all markets, including the BDC sector. We’ve used the coming of the new year to expand our coverage universe and are steeling ourselves for an eventful year ahead.
Here are 3 BDC news stories from the last week and a free article from the BDC Credit Reporter reviewing some industries that have experienced credit stress of late, as reported by Reuters and supplemented by our own analysis.
With the full year 2024 results in hand, the BDC Reporter is in a position to recap performance – both at the sector and individual BDC level. The BDCs may not have reached the heights of the tech-driven. major indices but many investors will be pleased with the results achieved.
We re-publish key BDC news stories and commentary from the week just ended from all three magazines we write.
With 2024 all but done, the BDC Reporter takes a long hard look at how the sector and all the individual BDCs have performed in price and total return terms in 2024. We offer our educated guess for 2025 as well.
After a week away, the BDC Reporter is back to recap a week that saw much sound and fury. The BDC sector didn’t fare too well and many individual BDCs dropped sharply in price but the story is more complex, as we discuss.
We are re-publishing articles that deal with the credit problems at a portfolio company of multiple BDCs. The ultimate losses could reach ($100mn) or more and materially impact at least two BDCs.
Once again the major indices (or at least two of them) moved up while the BDC sector went in the opposite direction, but not too far.
Capital Southwest – one of the most popular and most successful BDCs – had some credit hiccups in the IIIQ 2024. Is this an aberration or early signs of deeper credit troubles?
Everything is coming up roses in the market and for the BDC sector, and we’ve got the numbers. However, the BDC Reporter can’t help expressing skepticism and – yes – we’ve got the numbers to back us up. Not a jolly read, but a necessary one.
4 BDCs of all stripes have reached new record high prices. We provide valuation metrics and discuss why the market animal spirits seem to be reviving.We’ve got one strong theory.
Fresh from publication in the BDC Credit Reporter, we discuss the recent bankruptcy filing of a food manufacturer in which two of the BDCs in our coverage universe have substantial positions.
Neither the broader markets nor BDC investors can decide themselves about what the future holds so prices remain volatile. We also discuss whether 2024 will be remembered with a smile or a frown by our readers.
A portfolio company of Capital Southwest’s has been sanctioned. We discuss the possible implications for the BDC which has both debt and a highly valued preferred position in the company.
New Mountain Finance’s stock price has been weaker all year than its peers. In this article we look at the possible reasons why and what might be the catalysts for a positive change.
The bloom is off the market rose but the situation in the BDC sector is more complex, as we explain. Also in this edition we discuss what the main themes will be in the months ahead for those involved in the BDC sector. Stay alert!
Gladstone Capital has recently reached a noteworthy price high. We discuss the history of this long-in-the-tooth BDC; its metamorphosis and the staggering returns achieved in recent years – all with an eye on what comes next.
On the heels of a downgrade of WhiteHorse Finance by a respected analyst, the BDC Reporter delves deep into the BDC’s credit performance of late.
The BDC sector benefited from the post-election stock market euphoria but in a very patchy way. We review the week’s price action; where we stand in Week 45 and some of the challenges & opportunities ahead that will move prices.
Prospect Capital has slashed its distribution and changed its strategy going forward. We take a hard look at this shocking news.