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LevFin Insights BDC Portfolio News 9-9-19

Posted by Thomas Dunford on Sep 12, 2019 9:00:00 AM

With leveraged loan market back online, LBOs for CoAdvantage, Del Frisco’s, Waystar, OEConnection to take out BDC-held debt

Both the leveraged loan and high-yield bond markets wasted no time getting back to business despite August’s tenuous market conditions, with issuers stepping forward last week with a mix of opportunistic and M&A-related transactions. Foreshadowing what is expected to be a busy September, the high-yield market saw its first drive-by execution on the Tuesday after Labor Day in seven years as issuers rushed to capitalize on the plunge in U.S. Treasury yields with heightened trade tension last month, even as it reversed course last week with one of the biggest one-day yield gains in three years.

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Topics: High Yield, Analytics, BDC, market analytics, business development company, LevFin Insights, News, research

Non-Accruals PART II: What about lower middle market defaults? Higher, but even harder to assess

Posted by Kelly Thompson, Direct Lending Deals on Sep 11, 2019 3:34:52 PM

Last week’s look at BDC non-accruals showed an overall rate that still ran below historical norms, but what about the lower middle market? All BDCs invest in these names —that’s the nature of the business— but some drill down more than others.

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Topics: BDC, debt, business development company, Non-accruals, portfolio, Direct Lending, underperformers, Direct Lending Deals

BDC Common Stocks Market Recap: Week Ended September 6, 2019

Posted by Nicholas Marshi, BDC Reporter on Sep 10, 2019 8:55:39 AM

 

BDC COMMON STOCKS

Becalmed

There was very little to move the BDC common stock market sector in the week ended September 6, 2019. No BDC reported earnings and the news flow was pretty weak.
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Topics: Loans, Analytics, BDC, market analytics, business development company, News, bdc reporter, research

BDC portfolios show little pain in non-accruals for 2Q19, steady ahead

Posted by Kelly Thompson, Direct Lending Deals on Sep 5, 2019 8:59:00 AM

Macro economic factors — tariffs on Chinese goods, political unrest in Hong Kong and Brexit among them — have returned volatility to capital markets, however direct lending has plowed onward with few upsets. 

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Topics: BDC, debt, business development company, Non-accruals, portfolio, Direct Lending, underperformers, Direct Lending Deals

BDC Common Stocks Market Recap: Week Ended August 30, 2019

Posted by Nicholas Marshi, BDC Reporter on Sep 3, 2019 11:28:45 AM

BDC COMMON STOCKS

Denial

This was the week that the major markets decided not to worry so much about tariffs; global economic slowdown and the threat of war or military intervention just about everywhere.

As a result, the S&P 500 increased 2.79% and the other key indices moved up as well.

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Topics: Loans, Analytics, BDC, market analytics, business development company, News, bdc reporter, research


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