BDC sector prices end the summer on a quiet note. The BDC Reporter offers up multiple scenarios of what might lie ahead, including its own prediction of where we go from here.
PhenixFin’s IVQ 2020 results are obscured by one huge dividend received. On a pro-forma basis, though, the BDC’s performance continues to decline and many questions remain about what comes next.
Newly independent PhenixFin (previously Medley Capital) announces a share repurchase program. Investors, though, remain the dark about the BDC’s financial standing and intentions.
The BDC Fixed Income market ends 2020 with a flourish and a new post-Covid price record. We look forward into 2021, and even beyond to see what the future holds for publicly traded BDC unsecured debt.
2020 is finally over and the BDC Reporter recaps how the last two weeks – and the year – closed out.
The BDC price rally comes to a halt after five weeks. We discuss some of the winners and losers in the week and the outlook for the rest of the year.
Week Five of the BDC rally and everything is awesome…The BDC Reporter counts the ways but also offers up some countervailing thoughts not in the spirit of the season.
We re-publish an article from the BDC Credit Reporter about the restructuring and realized loss of a Golub Capital portfolio company.
The holiday-shortened week saw new records broken for BDC Fixed Income prices and much investor enthusiasm for the more troubled issuers. Plus, we discuss two business developments affecting BDC unsecured debt in a slow week for breaking news.
The BDC Fixed Income sector reached a predicted price milestone in the week ended November 20, 2020. Will 2021 see the sector break all price records ? Some new developments suggest the possibility.
Week three of BDC earnings season was also week two of a mighty rally in prices. We discuss causes, impact and the likely way forward with the end of this worst of years in sight.
A bad week for BDC common stock prices but OK for debt investors. However, the week ahead could provide more turmoil and test BDC Fixed Income for a third time in eight years.
All quiet on the BDC Fixed Income price front but both this week and next plenty of news stories to discuss, weigh and place into context.
For a third week in a row, BDC sector prices are down on the eve of earnings season. Also discussed: the growth in size of the larger BDCs and what that might mean for shareholders, inspired by Goldman Sachs BDC’s just completed merger with a sister fund.
The median BDC unsecured debt price dropped slightly this week, but the BDC Reporter remains sanguine. However, with BDC earnings season coming up, several underperforming BDCs do bear watching. We name names.
The BDC Fixed Income sector reaches a new milestone this week and gives the BDC Reporter the opportunity to estimate what 2020’s total return may look like with less than 3 months to go.
BDC sector prices overall barely budged in the week, but there was plenty of movement amongst certain individual BDCs, which we discuss. Also, as we enter the IVQ, the BDC Reporter breaks down the phases the BDC sector has undergone in 2020 and what we might expect for 2021.
BDC Fixed Income prices – surprisingly to the BDC Reporter – reversed course slightly in a week that also included much new issue activity and preparation. The sector seems to be getting ready for a busy remainder of 2020. We discuss some of the highlights ahead as well as what occurred this week.
The major indices continued to wobble during the week but the BDC sector held its ground. We discuss both ephemeral short term price moves and much longer term BDC price trends, and end with a hopeful message despite a year-to-date spent in the red, and likely to remain there.
In a holiday-shortened week, BDC sector prices – with one notable exception – held up well compared with the broader indices. We have a look at credit trends for a possible explanation.
