Both the major indices and the BDC sector quietly broke new records this week. We review the data and look forward, both in the short and medium term, to what is most likely to happen next.
BDC prices move up for a third day; close on the heels of the major indices. Also we discuss Crescent Capital’s earnings challenge and two developments at Gladstone Investment.
The BDC Reporter uses Bain Capital’s IIQ 2021 conference call transcript to point out the challenges facing the BDC, heavily subsidized by its investment advisor.
The broad indices and BDC sector prices were relatively muted on Wednesday. However, there were two important moves in the BDC fixed income arena getting underway.
BDC common stock prices mostly moved up on Tuesday. We discuss the backstories of several players posting higher prices.
Following its merger and surprise dividend increase, the BDC Reporter annotates the second largest BDC’s IIQ 2021 conference call transcript. Has the BDC undergone a permanent shift for the better or not ?
Neither the major indices nor the BDC sector moved much price-wise, but there was important news about earnings, dividends and financing costs at 3 players.
BDC sector prices rise late in the second week of earnings season, pushing almost everyone into the black. We summarize what has been happening with three quarters of BDC players reporting, and peer into the next quarter and next year.
After two days in the dumps, BDC prices rebounded sharply on Thursday, as earnings season trundled on.
BDC prices are soft for a second day. Also – with earnings season at the halfway mark – the BDC Reporter seeks to draw out some of the main sector trends and what that means for BDC performance going forward.
The S&P hit a new high, but the BDC sector dropped. Leading the news – despite multiple earnings releases – was the decision by one BDC to quit and become a national bank.
The new month/week began with a modest BDC price rise. However, there was shocking news from one of the most popular – and idiosyncratic BDCs – out there just as earnings season shifted into high gear.
The BDC Fixed Income Recap is back in a monthly format. We review the latest sector prices for unsecured debt; the number of issues and issuers and what’s been happening.
This was a consequential week that included the month end and the beginning of earnings season. Nonetheless, BDC sector prices barely budged. We discuss why there’s a strong possibility that might change shortly.
The BDC sector price dropped on the day, but possibly for a technical reason that we discuss. Also, the leading venture debt lender announced enviable results and another BDC dishes about a new add-ion investment.
On day two of BDC earnings season, the market leader offered up the biggest headlines. However, there was also some smaller BDC stories worth noting.
BDC prices slumped slightly on the day. BDC earnings season began with one disappointing result and one as expected. Also, we were surprised by a very inexpensive unsecured debt offering by a well regarded BDC.
Hercules Capital announces IIIQ 2021 distributions. We compare the likely payout for 2021 with 2020 and 2019 and wonder about 2022.
First day of the last week of the month and BDC stock prices – and the markets – are on the rise, with BDC earnings season twenty four hours away. Also a smaller BDC is buying back its stock.
A SPAC gobbles up a BDC portfolio company.