The BDC Reporter’s Dividend Outlook makes the right call for the twelfth time in 2018. We also look at how the 6 BDC Dividend Raisers are performing.
Third in a new series where we explain the premises underlying our investment activity.
Capital Southwest adopts the new asset coverage rules. Sort of…The BDC Reporter calculates the bottom line impact for shareholders, and gives a thought to Baby Bond holders.
With Earnings Season around the proverbial corner, here are 3 issues to be looking out for when Capital Southwest reports on Monday February 5.
Capital Southwest goes to the debt raising well. We’ve got details, analysis and an unusual dilemma for prospective investors.
Capital Southwest gets an analyst upgrade and increases its distribution.
Capital Southwest – new to being a lending focused BDC- is still refining its strategy and corporate status. Both are discussed in the final Proxy materials reviewed by the BDC Reporter.
In BDC News Of the Day, the BDC Reporter has a look at Capital Southwest’s 10-K and Conference Call and comes away with a few notable insights into distribution policy, credit risk and the relationship with the SBIC.
In BDC News Of the Day, Capital Southwest reports fiscal year and quarterly earnings. The BDC appears to be doing well in its first year as a lender-focused BDC, but the BDC Reporter cannot help but point out some concerns.
Capital Southwest’s Proxy filing tackles several issues, some of which should be important to the BDC’s shareholders including a new Chairman of the Board; manager compensation and a change in legal jurisdictions. Boring to many, fascinating to the BDC Reporter.
We review Main Street’s preliminary IIQ 2023 results to ascertain what they tell us about what we should expect from the BDC itself and from the sector.
Main Street promises IQ 2023 results that exceed all prior periods, including analyst expectations where key metrics are concerned. We compare and contrast the numbers and review the recent impact on the popular BDC’s stock price.
The external manager of a leading BDC is taking on two minority partners. We speculate what this might mean for the BDC’s shareholders now or later.
We annotate BlackRock TCP Capital’s latest conference call and find very few surprises in a routine – but encouraging quarter. The future, too, looks much like the recent past.
Another day, another BDC Baby Bond slated for early redemption. Stellus Capital is preparing to refinance its public Baby Bond. We review what a draft prospectus tells us.
As expected, Barings BDC does not intend to hold onto MVC Capital’s only Baby Bond (MVCD) once MVC Capital has been acquired. We learn what Barings has in mind for MVCD, which includes a little surprise.
The BDC Reporter reviews newly-public Owl Rock Capital’s dividend policy and explains how the BDC handles its distributions could affect shareholder returns for years to come.
Gladstone Capital issues a new Baby Bond. The BDC Reporter compares the terms with the BDC’s existing debt and with what its peers have achieved of late; analyze the impact on earnings and the leverage ambitions of the external manager. Finally, we consider how the BDC’s shareholders will fare.
OFS Capital – in a BDC first – establishes a wholly owned subsidiary just to acquire senior loans. We discuss what we now know, what we don’t and why that matters.
Hercules Capital issues a new Baby Bond but might repay an existing issue. The BDC Reporter analyzes this latest debt raise from a number of perspectives.
