BDC Common Stocks Market Recap: Week Ended September 14, 2018

Posted by Nicholas Marshi, BDC Reporter on Sep 19, 2018 10:30:00 AM

Concession Speech

We are prepared to concede that the once semi-robust BDC common stock rally is in stall mode.

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Topics: BDC, bond market, market analytics, business development company, Fixed Income, News

The Middle Market Loan Advantage: A Look Behind The Curtain

Posted by David Diggins on Sep 18, 2018 5:01:01 PM

[Transcribed from video]

Introducing the Middle Market Loan Advantage. The newest edition to AdvantageData’s suite of credit data products. The Middle Market Loan Advantage complements our syndicated bonds and BDC Advantage modules. With [~4500**] middle market loans, the Middle Market Loan Advantage shines a bright light on this opaque market.

How do we do it? AdvantageData aggregates information from news sources, trading desks, buy and sell-side filings, and more.

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Topics: Loans, Middle Market, Analytics, BDC, business development company, Valuation, Restructuring, Direct Lending, Investment Banks, Syndicated Bonds

LevFin Insights BDC Portfolio News 9-17-18: LBOs to take out Restaurant Technologies debt held by ARCC, Bain, Audax and CSWC, along with Quorum Software credit held by SUNS

Posted by Thomas Dunford on Sep 18, 2018 8:48:52 AM

Download: LFI BDC Portfolio News 9-17-18

The big three LBO deals that kicked off the post-Labor Day rush have all drawn significant oversubscription from loan investors, driven not only by strong market conditions but also nagging concerns among investors that volume will ease once the current calendar is put to bed. The solid response to these large transactions suggests that most of the deals in market will find firm footing and that arrangers will begin testing tighter pricing levels than the relatively conservative efforts represented by this first batch of September business.

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Topics: Middle Market, BDC, market analytics, business development company, LevFin Insights, News

The Middle Market Loans Advantage: The Tools and Data to Source Your Next Deal

Posted by David Diggins on Sep 13, 2018 12:25:09 PM

An effective deal sourcing process is crucial to successful investing. Deal sourcing involves generating leads and managing relationships with intermediaries. Strategies for deal sourcing vary among firms. Some firms prefer to employ specialist teams while others prefer using in-house resources.

Regardless of a firm’s strategy, access to the proper tools and the right data are essential for effective deal sourcing. In March, Mergers & Acquisitions published an article that illustrated this concept with Michael Lewis’ book, Moneyball: The Art of Winning an Unfair Game. The book details how the Oakland Athletics baseball team successfully used statistics and analytics to their advantage. The same can be done in the world of deal sourcing.

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Topics: Middle Market, Analytics, market analytics, Distressed Debt, Finance, Restructuring, Fixed Income

BDC Common Stocks Market Recap: Week Ended September 7, 2018

Posted by Nicholas Marshi, BDC Reporter on Sep 12, 2018 10:30:00 AM


A pull-back in the BDC sector in this holiday shortened week, and a couple of unexpected developments.

To the BDC Reporter, though, the outlook remains the same.

Back To Business

In the semi-official, Labor Day shortened, first week back after the summer holidays, the BDC sector dropped back a little.

The UBS Exchange Traded Note with the ticker BDCS – which we use to measure the whole group – was off 1.0% to end at $20.79.

Likewise, the Wells Fargo BDC Index was down 1.05%.

The number of BDC stocks up in price, or at least unchanged, numbered just 14, versus 27 last week.

No BDC common stock increased more than 3.0% in price on the week, but three dropped by 3.0% or greater.

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Topics: Middle Market, Analytics, BDC, business development company, Fixed Income, News

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