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BDC Common Stocks Market Recap: Week Ended August 2, 2019

Posted by Nicholas Marshi, BDC Reporter on Aug 5, 2019 9:42:31 AM

BDC COMMON STOCKS

Schizophrenic

In a week where BDC common stock prices should have been all about the results coming out of the first week of earnings season, there were other forces at play.

The Fed cut rates in the most telegraphed move since the invention of the telegraph itself and the Trump Administration returned to tariff wielding.

Without getting into the whys, the result was that the major indices fell out of bed – again.

The S&P 500the Nasdaq and the Dow Jones indices were all off between (2.5%) and (3.8%).

For the S&P, this was the worst week of 2019 and all the major indices dropped below their 50 Day Moving Averages, according to CNBC.

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

BDC Filing Season Q2 2019 - Week 1 Update

Posted by Sourav Srimal on Aug 2, 2019 4:32:29 PM

BDCs Filing season is in full swing. This report will utilize Advantage Data’s BDC workstation to analyze Q2 2019 filing data. As of Friday, August 2nd, 2019 Aggregate Fair Value reported by BDCs that have filed in Q2 2019 is at 33 Billion USD (Fair Value) which is approximately 31% of aggregate AUM of all BDCs.

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Topics: Analytics, BDC, AUM, market analytics, business development company, Non-accruals, BDC Filings, fair value, market update, top 5, adds & exits

BDC Common Stocks Market Recap: Week Ended July 26, 2019

Posted by Nicholas Marshi, BDC Reporter on Jul 30, 2019 1:25:02 PM

BDC COMMON STOCKS

Range Bound

We’re committed to writing a weekly assessment of where the BDC common market stands because a lot can happen in a short time.

Miss the signals of a change in market direction and investors can fall behind/miss out in just a few days and not have another opportunity for months or even years.

We don’t have to look far back in time for a helpful example.

Between December 24, 2018 and January 10, 2019 BDCS – our proxy for the sector – moved up more than 10%.

That’s a whole year of dividend income in 12 business days.

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

BDC Common Stocks Market Recap: Week Ended July 19, 2019

Posted by Nicholas Marshi, BDC Reporter on Jul 23, 2019 10:09:20 AM

BDC COMMON STOCKS


All Together Now

The week was not a good one for the major indices, all of which were down in the period. The BDC sector was not spared, with both indicators we use for price and total return in the red.

The UBS Exchange Traded Note, which includes most every public BDC – with the ticker BDCS – was off (0.25%). Likewise, the all-inclusive Wells Fargo BDC Index was down by (0.74%).

Thirty one individual BDC issues dropped in price, and just fourteen were unchanged or increased. The week before 28 issues had increased in price and 37 the week before that.

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

LevFin Insights BDC Portfolio News 7-15-19

Posted by Thomas Dunford on Jul 16, 2019 8:45:00 AM

LBOs to take out existing debt at Insurity, Loparex, Pregis and Press Ganey; holders include TSLX, BDVC, Audax, ORCC, FSK and Sierra

It was back to business last week for loans and bonds alike, with loan arrangers holding 22 lender meetings or calls to support $15.82 billion of deal flow. High-yield was similarly busy with nine credits for $3.88 billion marking the busiest post-July 4 week in several years, a testament to strong market conditions amid still-low underlying rates despite a small spike on Thursday afternoon and ongoing inflows to the asset class. An overwhelming majority was refinancing related, but new-money opportunities through M&A deals are already on tap for high-yield this week.

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


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