European Bond Research as of July 18, 2017

Posted by Michael F. Brown on Jul 18, 2017 4:52:03 PM
SENTIMENT BECAME MORE RISK-AVERSE, as European junk bonds lagged investment-grade debt in net price gains linked to actual trades. A jump in the euro followed news today of fresh setbacks in President Donald Trump's agenda amid fading hopes for passage of a new healthcare bill. Further conspiring to keep pressure on European risk assets were a sharp 15.7% pullback in Ericsson AB shares, while a bout of profit-taking impacted recent gains in the financials and materials groups.
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Portfolio update Saratoga Investment Corp. Q2 2017

Posted by Sean Riddell on Jul 17, 2017 2:03:02 PM

Saratoga is an externally managed Business Development Company (BDC) investing in middle market companies with revenues of $8 million to $150 million and EBITDA of $2 million or greater, typically making investments of $5 million to $20 million.

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Topics: Loans, Middle Market, BDC, business development company, Saratoga

Portfolio update Horizon Technology Q2 2017

Posted by Marlena Mathews on Jul 13, 2017 4:31:28 PM

Horizon is an externally managed Business Development Company (BDC) that makes secured loans to development-stage companies backed by venture capital and private equity firms within the technology, life science, healthcare information and services, and clean-tech industries.

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European Bond Research as of July 12, 2017

Posted by Michael F. Brown on Jul 13, 2017 11:17:36 AM
JUNK BONDS LAGGED INVESTMENT-GRADE NAMES in European trading, as global investors perceived a less hawkish Janet Yellen 'across the pond'. Indications from Federal Reserve Chair Yellen that  rate increases will maintain a gradual clip sent a spectrum of European equities higher, while global bond yields fell. A rally in oil prices on a bigger-than-expected drop in U.S. crude-oil inventories bolstered the oil-and-energy group, while upbeat sales by Burberry Group PLC sent luxury firms higher, lending additional sector cues  to corporate-bond traders.
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MVC: Completes Sale Of Affiliate

Posted by Nicholas Marshi, BDC Reporter on Jul 10, 2017 12:15:18 PM

In an 8-K on July 6, 2017 MVC Capital (MVC) confirmed the previously announced sale of its affiliate U.S. Gas and Electric (USGE) had been completed on July 5. Here are the details, our analysis of the likely impact of the USGE transaction on investment income and earnings over time; the BDC Reporter’s own mixed view of MVC’s prospects and a disclosure about our own exposure:

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Topics: BDC

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