BDC Fixed Income prices have held up well during the first two weeks of the market meltdown. However, with changes in interest rate and credit conditions changing quickly, what might happen next to prices and new issuance ?
The BDC Reporter reviews a strange week in the markets as investors switched from rampant optimism back to white knuckled fear. We also offer up our candid view of what might happen next, and our surprise as to how the markets have behaved to date.
Bain Capital Specialty Finance’s IVQ 2019 results were MIXED overall. We also update how the stock price fared from the earnings release through March 6, 2020.
The BDC Reporter updates the IVQ 2019 summary results for Ares Capital with the latest stock price movements since earnings were released.
We have updated the Apollo Investment IVQ 2019 results summary which we first published on February 17, with a brief review of what has happened to the stock price and to the valuation metrics through March 6, 2020.
The BDC Reporter lets all our readers know how to keep up with the ever changing BDC landscape at this time of high uncertainty.
We re-publish an article from the BDC Credit Reporter about a portfolio company of FS KKR Capital that is in the process of literally selling off its assets. We review the impact on the BDC.
We re-publish an article from the BDC Credit Reporter about one of four non performing portfolio companies Capitala Capital divested itself of in the IVQ 2019. We discuss the background of the investment and the impact on the BDC.
The BDC Reporter annotates the Capitala Finance IVQ 2019 conference call transcript, and adds an Executive Summary.
The BDC Reporter takes a break from individual BDC analysis to warn readers about how lower LIBOR could affect the entire sector’s earnings prospects, albeit to widely varying degrees.
The BDC Reporter annotates FS KKR Capital’s IVQ 2019 conference call transcript with commentary on the BDC’s business and credit developments. Also included is an Executive Summary.
The BDC Reporter’s re-publishes and adds annotations to the IVQ 2019 Fidus Investment conference call transcript, which is jam packed with information not elsewhere available.
Even the stable price world of BDC Fixed Income debt could not withstand the market drop in the week ended February 28, 2020. We review the damage to the group and to individual names and offer up thoughts as to what might happen next to both prices and to the use of fixed income debt by BDCs.
After the worst week for BDC prices in nearly ten years, the BDC Reporter summarizes what happened and what might be coming next. Not for the faint of heart but necessary reading.
The BDC Credit Reporter has identified the new non accruing portfolio company on Oxford Square Capital’s books now the 10-K has been published. The BDC Reporter republishes the article and assesses the impact on the BDC.
The BDC Reporter annotates TCP Capital’s (TCPC) IVQ 2019 conference call transcript, following a year in which the BDC absorbed two large realized losses.
The BDC Reporter provides commentary to Oxford Square Capital’s IVQ 2019 earnings call transcript in what was another difficult quarter for the CLO-heavy BDC.
Day Two of the market implosion. The BDC Reporter provides a summary update on what has happened to sector and individual stock and bond prices.
A troubled pharmaceutical manufacturer in which Barings BDC is invested has made huge strides in resolving its difficulties in the past two days. We re-publish two articles from the BDC Credit Reporter that bring the situation up to date.
After a day of red ink in the markets, the BDC Reporter thought to analyze how the sector fared – both in absolute terms and against the broader indices – and to review the impact on the 45 public entities we track.