Main Street tantalizes investors with a few key preliminary results for the IQ 2024 and promises a higher payout as well. We put this latest data in perspective and what the result might be for the year as a whole.
The IQ 2024 BDC earnings season is just around the corner and we’re bracing ourselves. Here we preview what to expect – as best as one can tell – from Oaktree Specialty Lending – one of last quarter’s major disappointments.
The BDC sector had a mediocre week price-wise but not as bad as the major indices. With little breaking news to report, we review in detail 2024’s performance to date and identify the winners and losers.
Great Elm Capital has successfully issued yet another Baby Bond. We analyze the new issue and its impact on the BDC’s balance sheet and briefly review the health of the sector’s Baby Bond market.
Barings – the external manager of publicly-traded Barings BDC – has announced organizational and personnel changes following the loss of 230 employees to a competitor. We assess the changes involved and the impact on the BDC and its shareholders.
We continue our BDC-by-BDC credit review with a look at Blackstone Secured Lending Fund.
Both the major indices and the BDC sector had a loss-making week but the damage to both was only modest whatever the headline writers suggest. Also, the macro environment might provide BDC prices with a boost if new credit difficulties don’t spoil things.
A portfolio company of Ares Capital – and 3 other BDCs – has filed for bankruptcy. We review the likely impact of this credit setback.
The week, March and the first quarter of 2024 end on a stronger note but well behind the broader market. We review who has prospered and who has been left behind this week and this quarter and evaluate how much room is left for further price growth.
Logan Ridge Finance has released its 2023 10-K allowing the BDC Reporter to undertake our review of the BDC’s financial performance. This also signals the end of the IVQ 2023 BDC earnings season.
For the first time in months, a BDC is raising unsecured debt in the public Baby Bond market. We analyze the costs and spell out the benefits for Trinity Capital and its shareholders.
After a few days hiatus, the BDC Reporter is back to writing credit reviews. The data suggests Bain Capital Specialty Finance is in good shape and has been improving in recent years.
As Prospect Capital’s financial performance weakens, its Chairman’s share ownership increases. We have a view on this.
The BDC sector is up slightly on the week and for the year. However, the BDC Reporter points out underlying weaknesses just below the surface and speculates as to the reasons.
An already credit-troubled TriplePoint Venture Growth faces the possible bankruptcy of one of its portfolio companies.
BlackRock TCP Capital has acquired its sister BDC BlackRock Capital Investment and updated its net book value per share as of March 15, 2024. The news is not good.
At long last, newly public Palmer Square Capital has announced both its first quarter 2024 distributions and its methodology for future payouts. We calculate likely returns and discuss the outlook for the BDc’s payouts through to 2026.
Oxford Square Capital is the before-last BDC to publish its 2023 results. Our credit review finds deterioration across several different metrics, raising our level of concern about the ability of the BDC to perform normally where credit is concerned.
The BDC sector is flat in the week but look a little closer and you’ll find there’s plenty to be worried about.
Trinity Capital has gotten around to announcing its regular distribution for the IQ 2024. We discuss the BDC’s history of making payouts and offer up a projection – drawn from our sister publication – of the 2024 amount. Is the dividend headed even higher?
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