We are beginning our quarterly tradition of rating each BDC’s latest results on a 1 to 5 scale, with a focus on the underperformers and out-performers. Oxford Square’s IQ 2024 performance lies squarely in the former camp.
The major indices moved up sharply this week but the BDC sector not so much. Nonetheless, there was plenty of good news for individual BDC stocks despite a lackluster start to earnings season.
Both the major indices and the BDC sector are moving along strongly. We review the overall metrics and individual BDCs. We also list out some of the players that might disappoint once IQ 2024 earnings season begins shortly.
An important portfolio company of Saratoga Investment has recently been sold. We provide the details and discuss the possible impact on the BDc’s bok value and earnings power.
Golub Capital follows Main Street in disclosing preliminary results for the IQ 2024. We compare the metrics against the prior quarter and expectations.
The major indices are slumping just as the BDC sector – and most BDC prices – are headed higher. We delve into this unusual phenomenon and discuss – amongst other things – what could trigger further BDC price gains.
Main Street tantalizes investors with a few key preliminary results for the IQ 2024 and promises a higher payout as well. We put this latest data in perspective and what the result might be for the year as a whole.
The IQ 2024 BDC earnings season is just around the corner and we’re bracing ourselves. Here we preview what to expect – as best as one can tell – from Oaktree Specialty Lending – one of last quarter’s major disappointments.
The BDC sector had a mediocre week price-wise but not as bad as the major indices. With little breaking news to report, we review in detail 2024’s performance to date and identify the winners and losers.
Great Elm Capital has successfully issued yet another Baby Bond. We analyze the new issue and its impact on the BDC’s balance sheet and briefly review the health of the sector’s Baby Bond market.
Barings – the external manager of publicly-traded Barings BDC – has announced organizational and personnel changes following the loss of 230 employees to a competitor. We assess the changes involved and the impact on the BDC and its shareholders.
We continue our BDC-by-BDC credit review with a look at Blackstone Secured Lending Fund.
Both the major indices and the BDC sector had a loss-making week but the damage to both was only modest whatever the headline writers suggest. Also, the macro environment might provide BDC prices with a boost if new credit difficulties don’t spoil things.
A portfolio company of Ares Capital – and 3 other BDCs – has filed for bankruptcy. We review the likely impact of this credit setback.
The week, March and the first quarter of 2024 end on a stronger note but well behind the broader market. We review who has prospered and who has been left behind this week and this quarter and evaluate how much room is left for further price growth.
Logan Ridge Finance has released its 2023 10-K allowing the BDC Reporter to undertake our review of the BDC’s financial performance. This also signals the end of the IVQ 2023 BDC earnings season.
For the first time in months, a BDC is raising unsecured debt in the public Baby Bond market. We analyze the costs and spell out the benefits for Trinity Capital and its shareholders.
After a few days hiatus, the BDC Reporter is back to writing credit reviews. The data suggests Bain Capital Specialty Finance is in good shape and has been improving in recent years.
As Prospect Capital’s financial performance weakens, its Chairman’s share ownership increases. We have a view on this.
The BDC sector is up slightly on the week and for the year. However, the BDC Reporter points out underlying weaknesses just below the surface and speculates as to the reasons.