BDC prices inch up slightly but remain in a narrow range. We discuss why one BDC’s NAV and stock price dropped and two important unsecured debt offerings.
The broader indices and the BDC sector dropped on Wednesday, with one venture-debt player taking a shellacking. Also, two BDCs are paying off Baby Bonds as the “Great Refinancing” continues.
BDC prices inched a little higher. In terms of news, there were two encouraging earnings reports; another BDC raised new equity and a new Baby Bond made its official debut. We also added two new BDCs to our coverage.
A very busy day for BDC news, but only moderate price movements. We welcome a new public BDC, and say goodbye to two public Baby Bonds.
After a brief pause most of the major indices were up, including the BDC sector. One high flying BDC is using the opportunity to issue new shares. We focused principally on a detailed credit review of Apollo Investment.
Inflation is here and the markets flinched. So did the BDC sector, but not much. Otherwise, there were plenty of BDC developments to cover.
For a second day the BDC sector could not keep up with the major indices. Also, we listened to Capital Southwest’s conference cal and identified the most salient developments.
The major indices rolled onward and upward, but the BDC sector lagged on the first day of the month. A mid-sized BDC dropped sharply in price in advance of earnings that turned out to be pretty good and another player announced a special payout for IQ 2022 already.
The major indices were all up in price on Thursday. So was the BDC sector, ending up just below record levels. Plus, two new BDCs reported earnings, another raised 10 year unsecured debt and another for 5 years while a third player quietly launched a new joint venture. Busy days.
On day two of BDC earnings season, BDC prices – and most major indices – dropped. Also, a small-cap BDC takes a first step towards refinancing unsecured debt coming due shortly.
For a second day in a row, the BDC sector failed to follow the major indices upward. Also, BDC earnings season begins with high expectations and three BDCs do not disappoint. There’s other news besides on a busy day for BDCs.
The gradual BDC rally took a small step back on Monday even as the major indices continued to rise. News-wise, one of the largest BDCs received a thumbs down from a leading analyst.
The BDC rally marches on, but sector prices remain below the June record. Otherwise, we learn more about a smaller sized BDC’s debt raising plans and review an underperforming portfolio company reaching a decision point that might benefit two of its BDC lenders.
Most of the major indices – and the BDC sector – continue to move upward, closing in or breaking records.Plus, a huge dividend is announced and a secondary offering launched by two mid-sized BDCs.
BDc sector prices climb ever closer to their 52 week high, but are not there yet. Also, a mid sized BDC offers up a preview of its key metrics and a larger player describes recent transactions booked. Finally, we continue to have website problems which we’re actively working on.
Most indices – and the BDC sector – moved up marginally in price on Monday. Elsewhere, a BDC tried and failed – again – to buy back its expensive debt. Also, we share two new troubled companies written about in the BDC Credit Reporter.
The major indices jumped up, but the BDC sector stood still on Thursday. We review a new unsecured bond offering and a dividend announcement by two different BDCs.
BDC sector prices are edging up towards a 52 week record high. Also, we discuss the possible debt raising plans of the BDC with the largest price discount to book.
Whereas the major indices dropped, the BDC sector increased in price on Tuesday. Also, two BDCs announced distributions: one increased and one unchanged, and a large cap player pays off expensive debt.
The major indices were down, and so was the BDC sector, but less so. There was no news to report, which keeps this Daily Update unusually short.
