We re-publish an article from the BDC Credit Reporter, covering the Chapter 11 filing of one of Prospect Capital’s largest borrowers, which has been in trouble for several years. The BDC Credit Reporter believes a major loss will need to be recorded by PSEC.
Another solid week for BDC Fixed Income but change is afoot thanks to the shift in future interest rate expectations. We parse the possibilities for the BDC sector and its debt investors.
The BDC sector followed – at a distance – the move upward by the major indices. That’s all well and good, but there are a couple of dark clouds on the horizon which may rain on this parade in the near-future.
A new non-traded BDC is making the move to the public market: Owl Rock Capital. The BDC Reporter takes a first quick look at what might shortly become the fourth sixth BDC we track.
The BDC Reporter updates where Goldman Sachs BDC stands in its plan to take advantage of the Small Business Credit Availability Act, and compares against projected income and distribution in the years ahead. Second in a series about the risk-return involved in the new rules.
We annotate the press release by NexPoint Capital after losing a key shareholder vote at Medley Capital and list out the many uncertainties remaining before the fate of the BDC will be known.
Publicly traded Fusion Connect files for Chapter 11 after acquisitions go wrong. We discuss the impact on the two BDCs involved in the financing and what’s been happening to other bankrupt BDC portfolio companies.
As the risk-free rate drops to new lows, existing BDC debt holders are not benefiting. In fact, we worry about what the week ahead – if the current trends continue – might bring. We also update BDC Fixed Income news and the Fixed Income Table.
The BDC sector joined the broader market rout, ending the 5 month long BDC rally. Besides the battle over tariffs, there are other threats to the sector, as we discuss.
The BDC Reporter publishes its first SBCAA Status Report. We begin with Apollo Investment.
The impact of the Small Business Credit Availability Act is beginning to be felt in the BDC sector, as we illustrate from our research. Time for a new article series from the BDC Reporter.
We annotate an article by Retail Dive about troubled retailers with additional information and analysis about BDC exposure and what we can learn from what has happened to date.
The BDC Reporter updates its Dividend Outlook for the next 12 months for TPG Specialty after reviewing the latest results.
The BDC Reporter annotates TPG Specialty’s IQ 2019 Conference Call transcript.
As risk-free rates drop, BDC Fixed Income does not act as one might have expected. Plus, Medley Capital’s debt slumps.
The BDC sector is holding up better than the major indices this week, but there are cracks beginning to show.
The BDC Reporter reviews the recommendation by two proxy advisory firms about who to favor in the upcoming vote for Medley Capital’s Board and offers its own suggestion.
The BDC Reporter updates its Dividend Outlook for the next 12 months for WhiteHorse Finance after reviewing the latest results.
With BDC earnings season ended, we’re circling back and looking at the credit performance and outlook for every BDC in turn. Here is a review of WhiteHorse Finance and the BDC Reporter’s credit outlook.
We’ve annotated an interesting article from Reuters about the BDC sector with some facts and views of our own.