2024-07-13 00:00:38 ET
Summary
- We take a look at the action in business development companies through the first week of July and highlight some of the key themes we are watching.
- BDCs had a strong week with a 1.5% total return, outperforming the broader income market.
- Trinity Capital updated the conversion rate of its 2025 convertible bonds, providing benefits for management and mixed impact for existing shareholders.
- BDC sector valuations remain expensive, but there are pockets of value with individual BDCs trading at attractive levels.
Welcome to another installment of our BDC Market Weekly Review, where we discuss market activity in the Business Development Company ("BDC") sector from both the bottom-up - highlighting individual news and events - as well as the top-down - providing an overview of the broader market....
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For further details see:
BDC Weekly Review: The Benefits Of Convertible Bonds For BDCs