Runway Growth Finance has taken another step forward in its ambitious expansion plans, tapping the publicly traded unsecured debt market. We review what the BDC has done and how this fits into a bigger picture.
Trinity Capital is in fast growth mode and is raising additional unsecured debt by tapping the public market for the first time. An important development both for the BDC and BDC debt investors who have had little in the way of new issues to choose from of late.
BDC prices could not continue their winning price streak. We review the numbers and discuss what we’ll be most looking out for when BDC earnings season begins in two weeks time.
BDC prices increase for a third week in a row. We discuss the details and offer up the BDC Reporter’s unalloyed view of how this might all play out. Spoiler alert: Patience will be required.
Saratoga Investment has just reported IIQ 2022 results and we’ve learned about a new underperforming portfolio company. Here are the details re-published from the BDC Credit Reporter.
A day after the BDC Reporter previewed Saratoga Investment’s IIQ 2d022 results, we are comparing what we expected with what actually happened.
BDC stock prices behaved inconsistently as we reached the half-year mark. We review the weekly, quarterly, six month and full year numbers and discuss what the coming earnings season might tell us.
A finance company subsidiary of Owl Rock Capital makes an acquisition. We explore the consequences for the BDC and what transactions like these tell us about an evolving BDC sector.
We’ve learned more about Blackstone Secured Lending Fund following the IQ 2022 conference call, and after a close look at its huge portfolio. Is the new-ish public BDC recession ready ? We have a great deal to say on the subject.
BDC prices bounced back somewhat in this holiday shortened week but question marks remain about what comes next as everything remains unresolved.
Encouragingly for many BDCs the market for raising unsecured debt from institutional investors has re-opened of late. We review New Mountain Finance’s recent note issuance, but explain that this is a marathon not a sprint.
With a recession promised, we’re reviewing existing BDC portfolios from a credit standpoint all the more carefully. There have been recent developments at Apollo Investment – not all of them favorable – but the BDC Reporter comes away relatively optimistic from our credit deep dive.
As we reach the mid-point of 2022, BDC stocks had their worst week since the even darker days of the pandemic. The BDC Reporter offers up its view on whether the markets are overshooting to the downside. Warning: it’s a complicated answer.