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Below is the full list of public Business Development Companies found in AdvantageData's BDC Advantage. This post was originally published on October 18th, 2016. The contents on this post, and the business development companies herein, have been updated with the latest information available as of July 8, 2019. View an updated list as of November 2019 here.

Datto moves forward on refi; existing debtholders include TCPC, GSBD, OCSL, SUNS, CGBD, GBDC

Power Solutions’ cross-border loan-and-bond deal was the focal point of last week’s activity, with loan demand magnified by the lack of available product elsewhere and both the secured and unsecured bonds playing well amid a bull-market run. Indeed, several other issuers pushed ahead with secured bonds as last week’s high-yield volume raced north of $10 billion, further depressing loan activity.

A very busy week ahead for BDC investors including fast moving prices; eleven new earnings releases and the vote on whether Medley Capital will merge into Sierra Income. We pledge to keep readers updated as a critical week unfolds.

Earnings:  This is going to be a busy week for BDC earnings as the season rolls on.  We’re already blanching at the prospect, with 11 separate releases coming. Far and away the most important will be the report by FS KKR Capital (FSK). This will be the first time since the merger with Corporate Capital Trust (ex-CCT), and after a name and ticker change. More importantly, we’re going to hear more about the ever huger BDC’s credit status. Reviewing the filing and listening to the Conference Call should tell investors whether the ambitious folk at this unusual arrangement between a firm best known for raising capital and another for investing capital will be successful at lending capital. To be honest, our impression from reviewing the portfolios at both entities (CCT and FSK) for some time now is that management is going to be in turnaround mode for some time to come. Much of that – if we’re right – can be laid at the underwriting taken by FS Investment’s prior partner in leveraged lending GSO Blackstone, which was not shy about taking some very large positions on behalf of the shareholders of multiple FS Investment funds in what now appear to have been some dicey propositions. KKR – now in charge of day to day investment management – re-underwrote those assets when taking over and adding their initials to the door and will have to be responsible for the consequences, if not the original credit decisions. However, KKR will benefit from being in control of many of the debt tranches through the multiple funds now under their co-tutelage with FS Investment, which will aid any work out efforts (but also prolong the time it will take to determine the final outcome). Also worth mentioning – as Oaktree Specialty Lending did last week  (OCSL) when discussing their own escape from under two troubled portfolio companies – is that the LBO market remains flooded with private equity buyers with huge untapped resources; hungry lenders of all stripes and an economy which is humming along (despite all the “next recession is around the corner” talk). As OCSL’s management noted, with a little luck and those favorable conditions, FSK may be able to dig itself out of the hole dug by another party, but which they enthusiastically adopted.