The press of constant developments across the BDC sector has greatly diminished with the end of earnings season. Where the BDC Reporter would wake to multiple new press releases, SEC filings, corporate presentations and analyst recommendations, we now have a blessedly short list of items to review and consider. In fact, we’re already done with the news flow on Wednesday May 25th and nobody is yet even at lunch on Wall Street. This is giving us the opportunity to write about a subject we’ve been meaning to discuss for several weeks. To keep readers awake and focused we’re going to break this into two parts. First, we’re going to review the drastic change in the popularity of leveraged lending in the middle market that has occurred in the past 8 years. In the second part, we’ll seek to explain why BDC investors should be worried in the short, medium and long term, and how they might be able to protect themselves.
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