OFS Capital (OFS) is seeking to prepay its $125mn unsecured note costing 4.75% early by – mostly issuing – a Baby Bond. Bottom Line: Expect earnings to drop sharply from the IIIQ 2025.
OFS Capital has published a preview of certain IIQ 2025 metrics ahead of its formal earnings release. We discuss the implications for book value, earnings and the dividend – both for 2025 and 2026.
The major indices fell a little this week but BDC prices moved up, probably in anticipation of earnings season. After 28 weeks, the BDC sector is doing alright all considered. Earnings season – which is nearly here- could shake things up.
BDC earnings season kicked off with Saratoga Investment’s results, two BDCs continued to pay the same dividend as before and a venture-debt BDC gave us a preview of their recent activity, and much more.
We have undertaken a full review of Saratoga Investment’s latest results through May 2025.
The much anticipated beginning of BDC earnings season began with Saratoga Investment’s quarterly results through May. Except for recurring earnings, everything was much like the quarter before.
The second half of the year began strongly for all the indices – and the BDC sector- in a holiday shortened week. There were only a couple of material news developments, which we covered. Looking forward, there’s still a bull case to be made, much of which depends on the Fed.
A busy-ish week for BDC news but only the developments out of Main Street and Prospect Capital merited in-depth exploration.
Main Street Capital is lending out a lot of money to a portfolio company of long standing for a “minority recapitalization”. We speculate as to where all the new debt is headed.
Coming up shortly is the beginning of the IIQ 2025 BDC earnings season, led by Saratoga Investment. Here’s what to look out for.
Prospect Capital has acquired a publicly-traded consumer finance company without offering much in way of explanation. We fill in some of the blanks and offer up our unvarnished views.
The main indices jumped forward this week but the BDC sector did not. We review the metrics and also assess where the sector stands at the 2025 mid-point. When we look forward into the rest of the year, a heavy fog hangs over everything. We offer a bull and a bear case.
A round-up of the BDC news for the week drawn from our three BDC publications. Sadly, no podcast as we explain.
Trinity Capital is tapping the institutional market for fixed income debt. We assess the bottom line impact on the BDC and what this means for the fixed income market more generally.
A new feature from the BDC Reporter: a summary of the main BDC news for the week, including our commentary. Available both as an article and a two person lively podcast !
It’s a wild, wild world out there but the markets – including the BDC sector – continue to barely budge. Nonetheless, we review some individual BDC price moves. We also take a look at current BDC yields and other matters.
Portman Ridge and Logan Ridge are about to merge but both BDC stocks price has been in free-fall. New measures have been instituted to turn matters around. We review, discuss and assess.
BDC sector prices remain on a plateau, with investors unsure whether the future direction is up or down, much like everyone else in the markets. However, we do see a path to a decent return in 2025…
After years in the doldrums, TriplePoint Venture Growth’s fundamentals and stock price are looking up. Is a real recovery underway?
We’ve just heard that a new exchange traded fund investing the the debt of private and public BDCs fixed income debt will be coming to market this week. Here are some of the details involved and why this is a step forward for BDC investors.