BDCs: archive
Every BDCs story in Private Credit, newest first. 34 stories
1 story
Ares Capital agrees to buy MFIC from Apollo for $2.6 billion
MFIC holders get $10.88 a share in cash and stock: 30.1% above the Oct. 26 close, about 15% below its preliminary Sept. 30 NAV estimate.
1 story
BDC common stocks fall again in week to Oct. 23
BDC Reporter's Oct. 24 recap says declines were almost across the board and flags earnings season as close.
1 story
Main Street Capital discloses preliminary third-quarter 2026 metrics
BDC Reporter, comparing the figures with second-quarter actuals, says they suggest a BDC performing more weakly than three months before.
1 story
BDC common stocks drop again in week ended October 9
BDC Reporter's weekly recap reviews the sector and several BDCs in the news and lays out where the sector stands year to date.
1 story
BDC Reporter calls week ended Oct. 2 one of the sector's worst
The recap attributes the weakness to macro factors, reviews sector metrics nine months into 2026 and looks ahead without enthusiasm.
1 story
WhiteHorse Finance puts itself up for sale, BDC Reporter reports
The IIQ 2026 performance summary carrying the news names no buyer, price, or timetable.
1 story
9fin's Q2 BDC watchlist flags 118 credits marked down 5 points or more
Information technology accounts for just under 36% of the $4.19bn in affected fair value, and more than half the credits mature in 2029 or sooner.
1 story
BDC stocks fell again as the wider market rose
A weekly price print cannot separate a funding-cost repricing from a credit warning, and the third-quarter marks will decide which.
1 story
Palmer Square BDC's manager contract outranks its dividend forecast
BDC Reporter forecasts distributions through 2027, but a change of control at the external manager is what sets what those distributions can be.
1 story
Cheaper SBIC debt won't settle Capital Southwest's 2027 payout test
The lender has added room under the SBIC debenture program, but the payout question sits on the asset side of the balance sheet.
1 story
WhiteHorse Finance tests the listed BDC's exit price
A BDC strategic review asks the question the unlisted direct-lending market has spent the year answering in private: who buys the book, and at what price.
1 story
BDC commons traded under pressure; the real tell is next week
BDC Reporter's recap gives direction without a figure and a catalyst without a name, leaving the funding window as the only question that matters.
1 story
Oaktree Specialty Lending prints $300m in unsecured notes
A $300m note is modest against the portfolio, but the unsecured channel it opens is the part that scales.
1 story
Ares Capital prints unsecured notes as the funding test lands
Issued weeks after Q2 closed on a funding test, the unsecured print is a cost-of-capital call from a sector giant — the coupon will show what balance-sheet trust costs.
1 story
BDC non-accruals climb as stress stays contained
The median non-perpetual-life BDC now carries 2.75% of investments at cost on non-accrual, up from 1.81%; the deterioration is selective enough to make manager selection the only durable answer.
1 story
Loan trading's second-quarter dip masks a record tape
Underwrite the $978 billion trailing volume, not the quarter that followed a record.
3 stories
BCRED's redemption queue stabilizes, but the cap still binds
Blackstone's nontraded BDC broke its run of rising exit requests last quarter, but the 5% repurchase limit remains the constraint and the backlog unresolved.
Blue Owl borrows to grow; BDC Reporter wants spread math
The new debt is a growth trade whose spread math has not been disclosed.
Phil Tseng out at BlackRock TCP as credit stress persists
BlackRock's listed BDC has tapped a successor, but the underperforming credits weighing on the shares will outlast the corner-office handoff.
1 story
Second quarter puts BDC books to the test
The market has already priced the downturn. Second-quarter reports will show which BDC managers accepted it.
1 story
Capital Southwest locks in 2026; 2027 is the test
BDC Reporter's review weighs whether Capital Southwest can hold its payout pace into 2027 and 2028.
2 stories
BDCs shrink their books by choice as redemptions bite
Morningstar DBRS puts non-accruals at 3.4 percent, up from 3.1 percent, as BDCs let repayments and asset sales outpace new loans—turning a defensive stance into strategy.
BlackRock's TCP exit comes down to pricing a shrunken book
BDC Reporter says the remainder of BlackRock TCP Capital's portfolio is on the block; the hard number is what it will fetch.
1 story
The BDC tape cools as the reset gets priced
The weekly give-back is the common stock marking the direct-lending reset before the quarterly marks catch up.
2 stories
Second-quarter BDC earnings season closes with a split verdict
A miss, a match, and a stalled relief rally leave allocators a single-name map and a funding test for Q3.
BlackRock TCP finds a liquidity valve in CLO equity
Creditflux reports the listed BDC is selling CLO equity instead of loans, giving the sector a cleaner exit that may become permanent.
1 story
Saratoga's unsecured borrowing will test the BDC funding market
A mid-market BDC's hundreds of millions in unsecured paper will reveal how much demand the BDC funding market has left.
5 stories
BDC Reporter's post-Fed view: prices stay under pressure
BDC Reporter's July 30 investment view says the Fed's no-move leaves BDC shares without the support a rate bump might have offered.
BDC stocks pause after relief rally leaves ground shifted
The sector's biggest weekly ETF gain in years gave way to a flat week, with BlackRock TCP's portfolio sale a reminder of what relief buying can't fix.
BDC Reporter splits verdicts on Golub and Capital Southwest
Two performance reviews separate a miss from a match, giving allocators a test for the rest of BDC earnings.
BDC Reporter updates Main Street Capital's dividend outlook for 2027
BDC Reporter's revised 2027 payout projection gives income investors a fresh benchmark for Main Street Capital's dividend.
MidCap Financial may not last in current form, BDC Reporter says
The Apollo-managed BDC's latest conference call caused a stir over its future, according to the outlet.
2 stories
BDC Reporter posts Q2 2026 scorecards for Hercules, Ares
The outlet calls Hercules an early-season standout and applies the same review to BDC giant Ares Capital.
BlackRock TCP sells nearly half its BDC portfolio to a continuation vehicle
A ground-breaking continuation-vehicle sale cuts TCPC's income base and raises the odds of a sale of the remainder.