The BDC Reporter annotates the IQ 2020 conference call transcript of sector leader Ares Capital. Earnings were only slightly diminished; liquidity is excellent and the credit impact of the crisis has been tolerable. Can this continue ?
The BDC Reporter has been evaluating every public BDC’s liquidity position since the beginning of the crisis. Stellus Capital has just announced changes in its banking arrangements that should be beneficial. We discuss the details and SCM’s overall liquidity status.
BDC Fixed Income prices seemed to be headed in one direction just a fortnight ago, but now are moving in unexpected ways. We discuss both sector trends and the path of individual issues and what the future might hold, which is likely to be very different from the past.
With BDC IQ 2020 earnings season at an end, is the sector oversold after dropping twice as much as the S&P 500 ? The BDC Reporter discusses in detail why that might not be the case.
A major portfolio company of MVC Capital is likely to be sold, resulting in a significant payday for the BDC. We share details published by the BDC Credit Reporter.
The BDC Reporter annotates a very long Saratoga Investment IQ 2020 conference call transcript, and weighs in on the controversy about the BDC’s dividend suspension. Plus, we offer new analysis about liquidity; the BDC’s CLO and much more.
The BDC Reporter annotates the PennantPark Floating Rate IQ 2020 Conference Call transcript, helped by reference to the just published earnings release, 10-Q and Investor Presentation.
Out of the blue – and a day after releasing its earnings, Prospect Capital pens an optimistic letter to shareholders. The BDC Reporter analyzes some of the contentions made and addresses the possible reasons for the unexpected communication.
The BDC Reporter has reviewed the BlackRock Capital IQ 2020 conference call transcript and listed the highlights.
The BDC Reporter has reviewed the Great Elm IQ 2020 conference call transcript and provides a list of highlights.
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.