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Advantage Data BDC Bond Index: Prospect Capital

Posted by Alex Buzby on Oct 3, 2016 4:17:21 PM
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AdvantageData tracks the investments of BDCs through quarterly filings as well as the debt of the BDCs themselves through our corporate bond platform. The AdvantageData BDC Bond Index is a market-weighted index of all bonds issued by BDCs excluding convertibles and preferreds. This is used to benchmark individual BDC debt vs. the BDC community as a whole.

 

Prospect Capital (PSEC): Comparing a market-weighted custom index of 25 Prospect Capital bonds to the industry benchmark shows spread declining from a high of over 690bps in February to just 102bps as of the end of 3Q 2016. 

ADI_BDC_Index_vs._Prospect.png

PSEC equity hit a new 52-week high in August and has rebounded over 50% from it's bottom in February.

PSEC_Bonds_vs._Equity.png


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Topics: High Yield, Middle Market, Prospect Capital, BDC Index, BDC

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