In the coming months, October – December, Investment Grade & High Yield bonds amounting to 183.1 Billion are maturing. Of the two asset classes, Investment Grade has the lion’s share of debt maturing in the next 3 months compared to High Yield.
Looking at $80 billion of FV AUM for 76 BDCs at Q2 2016, with the exception of internally managed BDCs, we see reductions in distressed assets (90% of par or less) across the board, whether looking at size of BDC, externally managed BDCs or senior secured and non senior investments. Internally managed BDCs saw an increase in distressed assets as a percentage of portfolio of 0.2% vs. a decrease of 2.7% for all BDC's and a 3.1% decrease for externally managed BDC's.
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