BDC sector prices began the new year strongly, in sharp contrast to the major indices. We review this latest week in the BDC rally and discuss where prices might go – both upwards and downwards.
Our first news story of 2024 is about a portfolio company of Gladstone Capital, which announced what seems like a major organizational change. We tell you as much as we know.
Fifty two weeks of 2023 have come and gone and we can summarize the BDC sector’s key results – which have turned out to be very good. We also take a look at what might transpire next year…
PhenixFIN closes out BDC earnings season by disclosing its fiscal results ended September 30, 2023. There’s much positive news but uncertainties – and losses – linger.
The bulls are everywhere, including in the BDC sector which is close to breaking all sorts of price records. Are we at the peak?
New Mountain has undertaken two initiatives that shareholders should be pleased by.
For a second year in a row CION Investment has announced a last minute “top-up” distribution. We analyze where this leaves the BDC as 2023 comes to a close.
The BDC sector continues to rally and the numbers after 50 weeks are very impressive, as we discuss at length. Can this continue? We have thoughts.
Trinity Capital has announced its final distribution for 2023 giving us the opportunity to evaluate the BDC’s payout performance over time.
Yet another BDC taps the public “Baby Bond” market. We review both the micro and macro consequences.
The BDC Reporter digs into the data in the BDC Credit Table to review Stellus Capital’s credit status at the end of the IIIQ 2023.
Monroe Capital recently announced a quarterly distribution of $0.25. Unfortunately for the BDC’s shareholders that payout may be cut shortly. We explain why and how Monroe may not be alone in this regard.
There are no new bankruptcies of BDC-financed companies. We’ve been spending most of our time gathering data on the sector’s non-performing borrowers.
A very good week for the major indices but not for the BDC sector. Once again, the future course of interest rates is coming to the fore, which might affect BDC stock prices in unbexpected ways.
The BDC Reporter has had little to write about of late. So, we’ve turned to updating and expanding – amongst other things – the BDC Credit Table. There’s a wealth of new data available – and more coming – making for an invaluable analytical tool.
Another week without a formakl bankruptcy of a BDC-financed company, but there’s bad news coming from two companies and losses from two other restructurings.
In the spirit of the season, BDC investors are feasting on high prices. With the end of the year in sight, we calculate how far we’ve come in 2023 and discuss whether 2024 might offer a repeat performance.
We’ve undertaken a deep dive – using both our resources and that of the BDC Credit Reporter – to analyze the credit outlook for Barings BDC. The data we’ve collected points in two different directions.
Combining both disclosures from Ares Capital and independent analysis from the BDC Credit Reporter, we undertake a top to bottom credit review of the largest BDC.
As we get closer to the end of the year, the BDC credit picture remains relatively solid. However, there are some cracks worth keeping an eye on – some of which we highlight here.