The BDC Reporter previews at the market open what we’re working on for Monday March 29, 2021.
BDC fixed income prices remained strong but the most notable development was a new question mark over the future of publicly traded BDC unsecured debt.
BDC prices bent during the week but did not break. With 2020 BDC earnings season behind us, the BDC Reporter looks ahead.
Investcorp Credit Management BDC issues new unsecured debt to refinance its only Baby Bond outstanding. We discuss the impact and implications.
Horizon Technology Finance is refinancing its existing only Baby Bond with a new public issue. We analyze the impact on leverage, liquidity and earnings.
Barings BDC closes out IVQ 2020 BDC earnings season.
Saratoga Investment raises its quarterly dividend by one cent. Again.
In most ways Oxford Square Capital performed well in the IVQ 2020 but the BDC Reporter has some concerns and a big question left unanswered.
Price-wise, the BDC fixed income sector was must unchanged on the week.
For the first time in seven weeks, BDC sector prices dropped, but not much. We also discuss recent developments at BlackRock Capital and Sixth Street Specialty.
Corrected: PennantPark Floating Rate issues new unsecured notes. The BDC Reporter analyzes the pro-forma impact on the balance sheet and earnings.
A famous retailer – just out of bankruptcy is poised to tap the capital markets. Sixth Street Specialty Lending appears poised to benefit.
Ares Capital is receiving various new price targets from analysts. We discuss the valuations within a broader context and share our own approach.
We re-publish a IVQ 2020 update from the BDC Credit Reporter about Great Elm Capital’s largest portfolio company investment – Avanti Communications.
OFS Capital is adding $25mn to an existing recent unsecured note offering. The BDC Reporter places the move in the context of the BDC’s leverage and liquidity.
Great Elm reports IVQ and full 2020 results. The BDC Reporter has a very clear conclusion to share with readers.
The much anticipated merger of the two Oaktree-managed BDCs has been agreed upon by their shareholders.
A previously troubled portfolio company of both Portman Ridge Finance and Saratoga investment is on the road to recovery.
BDC Fixed Income prices remain high but the universe of investable issues continues to shrink.
BDC prices reach ever higher for yet another week. As BDC earnings season winds down, the BDC Reporter wonders what’s next ?