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BDC Filing season is almost over. This report will analyze BDCs that have filed in the last 3 weeks. Last week’s analysis is available here. 

Aggregate Fair Value reported by BDCs that have filed in Q1 2019 is 104 Billion USD. BDCs have reported 36 Billion USD AUM in this week.

On Monday, President Trump criticized the Fed for even considering raising rates, yet on Wednesday the Federal Open Market Committee announced its decision to raise the Fed Funds rate ¼ of a percent from 2.25% to 2.5% -- the fourth such increase in 2018.

Hub holdings, LLC announced that it will increase its senior secured term loan by $375 million to refinance current oustanding debt. The proceeds will be mainly used to make payments on $300 million of second-lien secured notes and around $60 million of revolving credit. Following the announcement, Moody's announced that it would affirm the B3 corporate family rating and change the outlook on the debt from negative to stable. This outlook is based on the company's EBITDA growth and the feeling that they will be able to continue to reduce their leverage in 2017.

Level 3 Financing, Inc. , a wholly owned subsidiary of Level 3 Communications, Inc. (NYSE: LVLT), announced last week that it successfully refinanced its outstanding Term Loans through the issuance of a new TLB L+225/2024. The company anticipates approximately $35 million of cash interest expense savings on an annualized basis through this $4.61 billion senior secured agreement. At the day of issuance, ADI loan pricing services quoted an end of day bid for the loan at 99 3/4. Since then, the loan has traded up to a bid of 100 5/8 in the week and half since its first quote.