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Multiple BDCs: Exposure To Bankrupt First Brands Corp

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A leading auto parts conglomerate with billions of dollars in debt has just filed for bankruptcy which is causing concerns in the credit markets. We have an in-depth look at the BDC sector’s involvement in this setback and discuss whether we should be worried about further shoes dropping.

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BDC Common Stocxks Market Recap: Week Ended September 26, 2025

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Market observers will already know this: Week 39 was a terrible, no good one for BDC investors, especially those invested in financial underperformers and newly public players. Nonetheless, we de-construct the recent data and also review where the sector stands at this point in 2025. Finally, we offer up what a BDC “bull” – if one still exists – might argue about the future price outlook.

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BDC Prices Under Pressure: 12 Stocks Reach New 52 Week Lows

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BDC prices are taking a beating. In the past few weeks the sector is substantially down and the number of individual stocks at a new 52 week low this week is reaching record levels. We take a look at all the new 52 week lows to determine what can be learned from the identities of the BDCs reaching their nadirs.

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Palmer Square Capital BDC: Pro-Forma Impact of Interest Rate Cuts

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On hearing of Palmer Square Capital’s latest dividend, we were inspired to calculate how much the BDC’s earnings and dividend might change if we really get the big drop in short term rates that so many investors are counting on. This takes us all the way out to 2027 and all calculations are very hypothetical.

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BDC Common Stocks Market Recap: Week Ended September 19, 2025

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For the third week in a row BDC prices were down, but not as much as they could have been going by the first few days of the week. The year-to-date results for the sector are mediocre at this point with 14 weeks to go, but a few individual BDCs are flying high nonetheless. Looking forward, we muse about possible price and dividend outcomes for the sector.

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Gladstone Capital: To Redeem Unsecured Notes Due in 2026 And 2028

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For the past few days Gladstone Capital has been announcing significant changes to its debt facilities. This week, the BDC filled in the picture further, which has allowed us to quantify what the impact on its balance sheet and income statement will look like for the next year and a half.

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BDC Common Stocks Market Recap: Week Ended September 12, 2025

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As so often happens of late, the major indices and the BDC sector moved in different price directions this week. We discuss which BDCs were the most affected. We also take a clear-eyed view at where the BDC sector stands on the eve of short term rates being reduced again. There are numerous scenarios that could play out beyond a (0.25%) Fed rate cut and we discuss many of them.

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Gladstone Capital: Issues New Convertible Debt.

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Gladstone Capital has tapped the Convertible market to raise funds to meet upcoming debt obligations. This has caused a big drop in the BDC’s stock price but the BDC Reporter believes this was an appropriate action which the BDC’s shareholders may learn to appreciate.

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Kayne Anderson BDC: Prices $200mn In New Unsecured Notes

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A month ago Kayne Anderson BDC promised a refinancing of its own debt stack was in the offing. Now that a private placement has occurred, we can begin to evaluate its impact on the BDC’s borrowings costs, earnings and balance sheet. We don’t have all the answers, but it seems like the BDC’s interest expense will be coming down, but there’s much else to consider.

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BDC Common Stocks Market Recap: Week Ended September 5, 2025

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The BDC sector moved down in price this weeks, as two of the major indices moved higher. Price-wise, though, both the sector and most of the BDCs we track remain in a narrow price channel that even lower interest rates in mid-September might not change. However, we have taken a longer term view and assessed what the impact might be on BDC prices up to 2027 if the market consensus for short term rates plays out. You might be surprised by our conclusion.

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