NEW YORK, Nov 22 (LPC) - A large number of business development companies (BDC) reporting earnings on the third quarter of the year saw their net asset value (NAV) per share drop as a declining Libor rate and underperforming credits take their toll on middle market lenders.
NEW YORK, Nov 14 (LPC) - Private credit funds with deep pockets, capital flexibility and sticky investments are positioning themselves for the yield bonanza that could follow if a cooldown in the US economy was to further shutter bank liquidity and investor appetite for broadly syndicated loans.
NEW YORK, Oct 22 (LPC) - Investors who have binged on the US private credit market in the last few years are now turning to the growing specialty finance space where competition is less intense and spreads are more attractive.
NEW YORK, Sept 16 (LPC) - Business development companies (BDC) are consolidating in the highly competitive middle market as more firms look to scale up their operations ahead of a potential recession in the US.
NEW YORK, Sept 3 (LPC) - Business development companies (BDCs) are becoming increasingly vocal as they look to push the Securities and Exchange Commission (SEC) to exempt the industry from reporting requirements that they argue are curtailing the liquidity in the market and limiting its potential for growth.
NEW YORK, Aug 29 (LPC) - Private credit funds and business development companies (BDCs) are positioning their portfolios to deal with a potential economic downturn, which will be the first real test for a market that has come of age since 2008’s financial crisis.
NEW YORK, Aug 28 (LPC) - Physician outsourcing provider Envision Healthcare has seen the value of its US$5.45bn term loan B sink throughout August as weak earnings and political uncertainty around the US healthcare sector weigh on investor appetite, investors and analysts told Refinitiv LPC.
NEW YORK, Aug 15 (LPC) - The private debt market has largely been immune to the covenant-lite trend, but a recent spike in so-called covenant-loose lending suggests funds are finding ways to offer more aggressive terms while sticking to investor demands to maintain certain restrictions on borrowers.
NEW YORK, July 23 (LPC) - Participants in the business development company (BDC) sector are pondering whether the Securities and Exchange Commission (SEC) will push through with exempting the market from the Acquired Funds Fees Expenses (AFFE), an arcane rule that many see as the key to restricting liquidity.
NEW YORK, July 11 (LPC) - The US Securities and Exchange Commission’s (SEC) fund of funds proposals potentially open the door to a shakeup in the Business Development Company (BDC) market.
Vast crowds of black-clad demonstrators thronged Hong Kong on Sunday in the largest anti-government protests since local elections last month that boosted the pro-democracy movement seeking to curb controls by China.