We re-publish an article from the BDC Credit Reporter about PennantPark Investment’s largest portfolio company which has been underperforming for several years.
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.
BDC Fixed Income prices are in a lull but redemption and issuance activity remains active. We review what that means for debt prices this week and going forward.
The BDC rally marches on for yet another week. We look at who most prospered this week, and who did not and look forward as well.
Golub Capital announces a new secured loan facility. Nonetheless, the BDC Reporter has questions about the BDC’s overall financing structure.
Bain Capital Specialty Finance announces preliminary IVQ 2020 results and a new joint venture. We discuss the positives and negatives of both.
Fidus Investment increases its distributions, raising the possibility the BDC can return to its pre-pandemic payout level. We review both the FDUS dividend history and its potential future.
Ares Capital broke some records in the IVQ 2020 and has parlayed its success into a new common stock offering announcement after the close. We scan the highlights and the well orchestrated path of the largest BDC.
A portfolio company of FS KKR Capital seems to be on the verge of refinancing a portion of its leveraged loan debt in the junk market. We offer the details as known.
Barings BDC has previewed IVQ 2020 results. Besides an increased distribution, there’s a whole lot going on in the BDC’s press release which the BDC Reporter has annotated.
Golub Capital reports IVQ 2020 results very much in line with its own preliminary metrics. The BDC Reporter, though, has questions about liquidity and the dividend outlook.
Avanti Communications – leading portfolio company of Great Elm Capital – gets a last minute financial reprieve.
Yes, BDC fixed income prices reached a post-Covid record but that’s not the most important development of the week. The BDC Reporter foresees huge changes ahead for BDC debt investors.
A remarkable week for the BDC common stock rally that has been going since Halloween of last year.
There’s much to unpack in Apollo Investment’s IVQ 2020 conference call transcript.
We annotate Gladstone Capital’s calendar IVQ 2020 conference call transcript, armed with our review of the latest 10-Q.
Nearly thirteen years after investing in a foundry company, Saratoga Investment gets paid out. We briefly review the history of this long held debt and equity investment and its apparent resolution.
Gladstone Investment had two big successes in the IVQ 2020 which boosted its results. However, the BDC Reporter takes a nuanced view after looking through the 10-Q.
Capital Southwest has released its IVQ 2020 10-Q. This has allowed us to begin reviewing its portfolio to identify how underperforming companies are faring. First up on a short list is American Teleconferencing Services, a company with 7 BDC lenders.
The BDC Reporter updates the BDC Credit Table with the latest – though still incomplete – credit performance data from Capital Southwest for the IVQ 2020.