BDC Weekly Review: Banks And Private Lenders Are Joining Forces
We take a look at the action in business development companies through the fourth week of September and highlight some of the key themes we are watching. BDCs had a solid week with a 1% total retur...
Barings BDC: Potential Upside If Credit Issues Remain Managed
Barings BDC offers an appealing 11% yield and is undervalued, making it a solid choice for passive income investors. Improved credit trend, lower non-accrual ratio, and a 25% YoY increase in net in...
BDC Weekly Review: Incentive Fee Structures Will Start To Matter Again
We take a look at the action in business development companies through the third week of September and highlight some of the key themes we are watching. BDCs were flat this week, with GAIN leading ...
2 Lessons From BDCs That Recently Cut Their Dividends
The fears of BDC dividends becoming unsustainable are rising. The primary driver for this is falling interest rates. While I fully appreciate this risk, in my opinion, by being very selective, inve...
BDC Weekly Review: Private Lenders Are Getting Into The Trading Business
We take a look at the action in business development companies through the second week of September and highlight some of the key themes we are watching. BDCs had a strong week with a nearly 2% tot...
I Made Ares Capital One Of My Top BDC Positions
Ares Capital offers a great risk-to-reward ratio with solid dividend coverage and a slight premium to NAV. The portfolio is well-prepared for further interest rate cuts. I made ARCC one of my Top B...
Golub Capital BDC: A Solid Quarter But Worse Under The Hood
Golub Capital BDC delivered a strong quarterly result with a 4.8% total NAV return, trading at an 11.3% dividend yield and a 3% discount to book. The company's diversified loan portfolio focuses on...
SLR Investment: A Strong And Stable BDC With Concentrated Portfolio
SLRC has a portfolio of $2.1 billion, diversified amongst 800 unique issuers. SLRC is trading at a 15% discount to net asset value and with a current yield of 10.6%. 64% of the portfolio is asset-b...
BDC Weekly Review: Common Shareholders Don't Always Have Claim To All Of NII
We take a look at the action in business development companies through the first week of September and highlight some of the key themes we are watching. BDCs were down around 1% this week, with low...
Is Hercules Capital Worthy Of Its Name? Volatility Is Coming
Hercules Capital is a top-tier BDC with a strong track record, focusing on first-lien debt investments across five sectors from the 'new economy'. HTGC's floating-rate loans benefit from high-inter...
Golub Capital BDC: A Strong 12% BDC Yield Trading Below NAV
Golub Capital BDC's merger with Golub Capital 3 BDC significantly increased its portfolio value and net investment income, enhancing its investment appeal. The BDC's net investment income comfortab...
3 Pillars To Minimize BDC Dividend Cut Risk In Your Portfolio
It is very likely that for most BDCs, the earnings have peaked and the direction of travel is unfavorable. There are both structural and transitory headwinds that put a pressure on earnings, render...
Barings BDC: Valuation Re-Rating Driven By Decent Performance
We take a look at the Q2 numbers from Barings BDC. The stock trades at a 12% discount to book and a 10.4% dividend yield. The company's portfolio quality remains fairly strong, with low non-accrual...
BDC Weekly Review: Lenders Are Taking Over Pluralsight
We take a look at the action in business development companies through the last week of August and highlight some of the key themes we are watching. BDCs saw a 1% total return last week but ended A...
Barings BDC: Solid BDC But Lack Of NAV Growth Reduces Appeal
Barings BDC operates as a business development company that generates its earnings through a portfolio of debt investments. BBDC's portfolio is highly diversified, with 66% in first lien senior sec...
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