Hercules Capital calls a Baby Bond in nearly 6 years early. We discuss the details in the context of the BDC’s liability management and project what HTGC might do next.
One rating group downgrades Hercules Capital from investment grade, another moves in. Another example of the changing dynamics of BDC debt credit ratings.
Hercules Capital adopts the new asset coverage rules and asks shareholders for their blessing. This is Big News in more ways than one, and we discuss the implications for the BDC and the sector generally.
A quiet week, both in terms of price changes and news developments, in BDC Fixed Income. Looking around the corner, we speculate as to whether the universe of publicly traded unsecured BDC debt gets bigger or smaller.
The BDC sector has a very good week almost across the board, despite few developments as investors jockey for position before earnings season. We discuss at length one factor that could prolong the rally and briefly (teasingly ?) mention another.
A bounce back in BDC Fixed Income prices during a short week. Otherwise, we learn what we can from Prospect Capital’s latest debt offerings and review likely early debt redemptions. (This is the full version of the article. An earlier version was truncated by pixies for reasons unknown).
BDC Fixed Income prices do nothing very surprising on the week. However, the BDC Reporter is startled by Prospect Capital’s newest Baby Bond offering and its implications for the BDC debt market more generally.
BDC Fixed Income prices are modestly higher. More importantly, the landscape for unsecured BDC debt changes before our very eyes.
BDC Fixed Income prices did not move much on the week, but the outlook for the entire sector for years to come shifted dramatically.
A watershed week for the BDC Sector, but not for the usual reasons.
BDC Fixed Income prices are going nowhere but are the number of issues in the segment poised to boom ? We give two reasons why that might be the case.