In the first week of second quarter BDC earnings season, sector prices were relatively tame, even positive. Take a longer perspective, though, and the picture is less encouraging for BDC investors.
A compendium of all the developments involving the BDC sector in the week ended July 31, 2020.
In the midst of earning season, Capital Southwest opens its mail and receives a welcome “Green Light” letter from the SBA. We explain why this is important news for the BDC.
The BDC Reporter annotates the BlackRock Capital IIQ 2020 conference call transcript, including debating some of the premises offered up by management after another disappointing quarter.
A first look at Stellus Capital’s IIQ 2020 results and a change iin the BDC Reporter’s rating of the BDC’s liquidity.
A first look at troubled BDC OFS Capital’s IIQ 2020 results.
The BDC Reporter annotates Horizon Technology Finance’s second quarter 2020 conference call transcript, following unexpectedly stellar results.
The famous restaurant chain is the ninth BDC-financed company to file for bankruptcy in July and there are multiple BDCs involved in both the first and second lien debt. Re-published from the BDC Credit Reporter.
The BDC Reporter’s first look at Gladstone Capital’s surprising calendar IIQ 2020 results.
Extracted from the BDC News Feed, first thoughts on BlackRock Capital Investment’s IIQ 2020 results.
After disappointing second quarter 2020 results, the BDC Reporter annotates the Gladstone Investment conference call transcript.
The BDC Reporter listened to the Gladstone Investment Conference Call and what was said about the BDC’s dividend which some investors fear may be cut as recurring earnings dropped sharply.
From the BDC News Feed: A first look at Gladstone Investment’s underwhelming results for the quarter ended June 2020.
Oxford Square Capital kicks off second quarter 2020 BDC conference calls with a close to the vest presentation of results that seemed pretty good considering the circumstances. The BDC Reporter annotates the conference call transcript.
A first look at the first BDC to report earnings in the second quarter earnings cycle: Oxford Square Capital.
Median BDC Fixed Income prices are at a post-Covid high but at least five issuers and eight issues are questionable on the edge of earnings season. None of the weaker BDC bond issuers are reporting next week, but seven others are, including two whose outlook remains questionable.
The last week before BDC earnings season begins saw prices settling down as investors have largely positioned themselves. We discuss what’s been happening to the prices of some famous BDC names and take a brief look at the eight BDCs that will be announcing results. We’re not making any predictions because there’s so much we don’t know after the most difficult quarter for leveraged lending in a decade.
We introduce a new regular feature: a comprehensive review of every BDC development during the week just ended, each annotated by the BDC Reporter.
We preview Oxford Square Capital’s IIQ 2020 credit status by use of the BDC Credit Reporter’s database of underperforming portfolio companies. We also publish the database itself for readers to delve into as they see fit.
A famous milk producer is being acquired out of bankruptcy by a group that includes two existing BDC lenders: FS KKR Capital and FS KKR Capital II. We explain why this is important for the BDCs shareholders involved and for BDC investors generally.