Hours after NexPoint offered to become Medley Capital and Sierra Income external manager comes a response…The plot thickens and the possible outcomes ever more complex and with major implications for managers and shareholders at three companies.
A last minute challenger arrives for Medley Capital and Sierra Income. We annotate the shocking offer made to shareholders a week before the vote on a three way merger is to be held.
Medley Capital’s activist punches back in another letter to shareholders. Who is right and who is wrong ? More importantly: who will win ? We answer both questions as best we can.
Will the BDC sector continue to rally ? What happens next in the Medley merger dogfight ? How will the first week of BDC earnings season go ?
One year after taking a big position in Alcentra Capital an “activist” shareholder steps up to the plate. But why ?
Medley Capital claims a thumbs up from a shareholder advisory group, which is a snub to one of the foremost opponents of a proposed three-way merger. Is this now a done deal and what happens to Medley’s stock price ?
Very little price movement and very little news where BDC Fixed Income is concerned. Next week – with the beginning of the earnings season deluge – may change all that.
The BDC common stock rally rolls on for a fifth week, but with less forward momentum. Will BDC earnings season – just round the corner – make much of a difference going forward ?
We initiate a new article series. Instead of yet another earnings estimate, we provide a credit outlook in advance of IVQ 2018 filings. First up: Capital Southwest.
A holiday shortened week ahead but the markets continue to bear watching; the Medley merger percolates; we catch up with MVC Capital and prepare for a webinar.
The rally in the BDC Fixed Income segment comes to a stop – for this week at least. Little other news except our second opinion of Prospect Capital’s investment grade thumbs up from a rating company.
Another another brick to the BDC rally wall after four weeks in a sharply upward direction. We look at where we are after a turbulent few months and what might be a catalyst for a change.
Main Street publishes a few key preliminary numbers for 2018. We ask some hard questions about the future.
A dissident Medley Capital shareholder shakes the tree again. We review the arguments and provide our own view and explain why this is likely to be much ado about nothing when shareholders get to the ballot box.
The BDC Reporter annotates a press release from Alcentra Capital about its investment activities and stock repurchase program.
The markets remain center stage in the week ahead with no earnings releases scheduled. However, there are other items which may – or may not – hit the headlines.
As elsewhere, the BDC Fixed Income rally goes on but the future may look very different. Otherwise, not much happening in the sector, but this could be the quiet before a storm of new debt issuance.
The snapback in BDC common stock prices – and in leveraged debt values – continues for a third week in the row, which we document with much supporting data. The way ahead, though, may not be as smooth and we discuss the possibilities.
We update what the BDC Reporter learned from the scheduled – and previously previewed – earnings release of Saratoga Investment.
The first full business week of 2019 and the BDC Reporter is back previewing what we might expect to hit the headlines in the next few days. “Whereto the market ?” remains the most important question but there is one earnings release this week and two major shareholder votes pending. Interesting start to an important year.