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.
Yet another development at a troubled BDC-financed company that the BDC Reporter has been writing about for a year now. Given that four BDCS – including three public players – have sizeable exposure, we have chosen to republish an article from the BDC Credit Reporter, and provide a preamble explaining why this is a company worth following the progress of.
The BDC Credit Report identifies a new underperforming BDC-financed company, which is financed by venture-debt BDC TriplePoint Venture Growth.
Lower interest rates across the board are continuing and impacting BDC Fixed Income in several ways, including price.
The BDC rally is placed on hold by increasing worries about a possible global pandemic. Meanwhile, the third week of BDC earnings season maintains the mostly favorable trends apparent in the prior two weeks.
The BDC Reporter reviews each of TPG Specialty’s under performing companies in turn following receipt of the IVQ 2019 results.
TPG Specialty performed well in the final quarter of 2019, and made some surprising decisions about its dividend policy. That, and much more was discussed on the BDC’s Conference Call. The BDC Reporter highlights the key points and adds a commentary track.
A mid-sized portfolio company of Bain Capital Specialty Finance is tottering on the edge of bankruptcy, after a multi-quarter downward slide. We review the details and the likely impact on the BDC’s earnings and book value.
Two weeks into February and there are 4 new loans in default amongst some of the largest non-investment grade leveraged borrowers, according to S&P Global Market Intelligence. We review which BDCs are involved; to what degree and what this tells us about the private credit industry.
BDC Fixed Income prices didn’t move much in the week, but there are two huge trends underway in the sector that could change everything…
Another week of BDC Earnings Season and another week of a sector-wide price rally. We review the highlights of both, and add some context about longer term trends underway.
The BDC Reporter re-publishes an article from Leveraged Commentary & Data about third quarter 2019 trends and uses the opportunity to discuss some of the fundamental changes going on before our eyes in how the sector does business.
We re-publish an article from the BDC Credit Reporter about an under-performing portfolio company of FS-KKR Capital and three of its non-listed sister BDCs.
We launch a new Investor Tool: a table summarizing the performance of every BDC every quarter.
Prospect Capital had a rough IVQ 2019 where its results were concerned, with both earnings and book value dropping from the prior period. We delve into the details.
Following months of not hearing from Medley Capital, we get an opportunity to ascertain where the BDC stands thanks to the publication of the IVQ 2019 results.
We review PennantPark Floating Rate’s earnings release, 10-Q and Conference call and summarize IVQ 2019 results and offer up our quarterly assessment of overall performance.
We review how BDC Fixed Income prices reacted to the latest “black swan” event, and how ever lower yields on new issues is bifurcating the debt market, with long term consequences for issuers and investors alike.