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 ?
Portman Ridge Finance, fresh off its acquisition of Garrison Capital, reports IVQ 2020 results.
Energy lending remains a difficult business as illustrated by the Chapter 11 filing of an Ares Capital portfolio company.
Saratoga Investment issues new unsecured debt. The BDC Reporter untangles what has become a complex debt structure for a smaller BDC.
WhiteHorse Finance grew fast in the IVQ 2020, reaching its optimal size for the first time.
Capitala Finance has reported IVQ and full year 2020 results and held its conference call. Nonetheless, the BDC Reporter remains uncertain as to where the BDC is headed.
Fidus Investment has gone from anxious to expansive as the IVQ 2020 results illustrate.
BDC prices may be in a state of stasis but plenty is happening that will drastically change the complexion of the sector by year’s end.
On paper the BDC sector rally lasted another week, but prices may have peaked in mid-week.
OFS Capital puts up much better results for a second quarter in a row.