BDC Fixed Income prices drop slightly in the week. We discuss the challenges the weaker BDCs face and how that’s translating to the value of their debt.
The second week of BDC earnings season boosts the sector’s overall price levels as BDC financial structures bend but do not break. However, the uncertainties surrounding the future direction of the economy could still change everything.
The BDC Reporter has assembled multiple key data points about how every BDC is faring as IQ 2020 results are published. This exclusive table includes vital information about NAV Per Share Losses; non accruals; dividends; share buybacks and – most of all – BDC liquidity.
FS KKR Capital raises a quarter of a billion dollars of debt on an unsecured basis in the middle of a pandemic. We review the details and the implications for the BDC and it’s much battered shareholders.
In May, the Carlyle Group finds an innovative way to support TCG BDC’s liquidity and leverage metrics. We review the details and debate whether the BDC’s shareholders should be delighted or not.
The BDC Reporter follows up the Capitala Finance conference call with additional questions and gets answers. We then discuss the liquidity and balance sheet challenges the BDC faces after an impactful first quarter.
The BDC Reporter reviews, analyzes and discusses the three key issues affecting Fidus Investment in the wake of reporting IQ 2020 results.
BDC Fixed Income prices break through to a new level this week. The recovery, though, is incomplete even if the first BDC earnings results were auspicious.
The BDC sector did not move much overall from a price standpoint for a third week in a row and despite the beginning of earnings season. Big uncertainties,though, remain which the BDC Reporter discusses.
Barings BDC reports IQ 2020 results and the BDC Reporter focuses in on the three subjects of greatest interest at the moment: what’s happening to liquidity, credit and the dividend.
A portfolio company of Monroe Capital unexpectedly files for bankruptcy protection.
The second BDC to report IQ 2020 results is Horizon Technology, whose modest drop in book value and unchanged distribution surprises. Will the BDC be able to maintain its good fortune going forward ?
Oxford Square Capital kicks off BDC earnings season with a 35% drop in book value and a possible dividend suspension in the future. We review the numbers, the liquidity and the outlook.
BDC Fixed Income – like common stocks – have a better week price-wise, but there are still strains. Investors look forward to BDC earnings season and what that might mean for fixed income prices and outlook, with three funds in the docket.
With BDC earnings season around the corner, the sector’s prices stabilized but individual BDCs remained highly volatile both up and down. The BDC Reporter discusses the upcoming earnings and portfolio releases and their importance in the short and longer term in what looks like a critical year in the history of the sector.
We re-publish a new article from the BDC Credit Reporter about a huge, publicly traded portfolio company getting into trouble. Our main purpose, though, is to make a broader – and very important – point about credit expectations across the BDC sector.
Carlyle’s public BDC – TCG BDC – provides an update on key metrics, but leaves much unsaid. The BDC Reporter connects the dots as much as possible and offers up our assessment of the principal challenge that lies ahead for this recently public BDC with the famous parent.
Given the large amounts and the multiple number of public BDCs involved, we re-publish a BDC Credit Reporter article about a troubled restaurant chain.
TPG Specialty offers up – in the form of a slide presentation – its arguments as to why shareholders should agree to selling new shares below book value. We review the case made and make our own views known.
For the last time – given that BDC earnings season launches this week – the BDC Reporter updates its compendium of all BDC developments since the Covid-19 crisis began. Plenty of items to review, but less than we expected.