新发行证券情况 - 纽约抵押信托公司（NYMT）发行价值6000万美元2019年到期的新上市高级票据，固定票面利率9.125%，2026年7月1日起可按面值赎回，获伊根 - 琼斯评级公司BBB评级，在纳斯达克以NYMTI交易，交易价格略高于面值 [5] - 迪姆社区银行（DCOM）发行价值6500万美元2034年到期的新上市次级票据，初始固定 - 浮动利率9%，获克罗尔债券评级机构BBB - 稳定展望评级，2029年7月15日起可按面值赎回，否则票面利率开始浮动，新利率为三个月SOFR加495.1个基点利差，在纳斯达克以DCOMG交易，交易价格约25.43美元 [6] - 牛津巷资本公司（OXLC）发行价值1亿美元2030年到期的新上市票据，固定票面利率8.75%，2028年6月30日起可按面值赎回，获伊根 - 琼斯评级公司BBB + 评级，在纳斯达克以OXLCI交易，交易价格约25.72美元 [8] - 三一资本公司（TRIN）发行价值1亿美元2029年到期的新上市票据，固定票面利率7.875%，2026年9月30日起可按面值赎回，获伊根 - 琼斯评级公司BBB和晨星公司BBBL评级，所得款项用于偿还部分现有债务，在纳斯达克以TRINI交易，交易价格略高于面值 [8] - 摩根士丹利（MS）发行价值10亿美元的新系列Q非累积永续优先股，固定股息率6.625%，2029年10月15日起可按面值赎回，获穆迪Baa3、标准普尔BBB - 、惠誉BBB和DBRS BBB（高）评级，先在OTC以MSPQV交易，最终将转至纽约证券交易所的永久代码MS - Q [8] - 地区金融公司（RF）发行价值5亿美元的新系列F非累积永续优先股，2029年9月15日前初始股息率6.95%，届时可选择赎回，否则股息率每五年重置，新利率为当时五年期国债利率加2.771%利差，先在OTC以FRPFV交易，后转至纽约证券交易所的永久代码RF - F [8] 证券合规情况 - DCOMG是本月文章中唯一获得完美CDx3合规评分的证券，达到10分需满足股息率、赎回日期时间、累积未暂停季度股息、投资级信用评级、美国发行人、不可转换、招股说明书可用性和25美元面值等要素 [7] 批发购买新股份 - 优先股首次公开募股通常有临时OTC交易代码，投资者可用在线交易账户以批发价购买，接近或低于25美元购买可避免价格下跌时的资本损失，经纪人会自动更新交易代码，且优先股交易代码格式不统一 [9] 过去优先股IPO情况 - CDx3跟踪过去发行的证券，今年以来许多证券跌破面值，CDx3合规“篮子”较面值折价约3%，当前收益率约6.43% [10] 近期跌破面值证券 - 文章列出2024年7月不同日期多只证券跌破面值情况，包括触发日期、代码、CDx3评分、类型、成交量、最低价、收盘价、面值、股息率和除息日等信息 [14] 投资者启示 - CDx3通知服务每月总结新优先股和上市债务发行情况，突出跌破面值的过往发行证券，旨在让固定收益投资者了解市场投资机会 [16]

Hiroshi WatanabeBlue Owl Capital (NYSE:OBDC) is the third largest BDC carrying an NAV base of circa $6 billion, falling short only from FS KKR Capital (NYSE:FSK) and Ares Capital (NASDAQ:ARCC) that have NAV figures of ~ $6.8 billion and ~ $11.8 billion, respectively. The overarching strategy of OBDC is to provide direct lending solutions to U.S. upper middle-market companies. Yet, here it is critical to underscore a couple of details pertaining to the strategy (or investment underwriting policy) itself: ...

Jonathan Kitchen/DigitalVision via Getty Images 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. We also try to add some historical context as well as relevant themes that look to be driving the market or that investors ought to be mindful of. This update covers the per ...

Image Source Income investing is an attractive investing strategy, but the majority of stocks have relatively low dividend yields. Or, a desired income would require more capital than we own to achieve using ordinary stocks. The BDC sector comes to mind as a way to spike our portfolio dividend yield and still keep equity-like returns. The subject of this article is the BDC called Capital Southwest (NASDAQ:CSWC). A BDC is a managed portfolio of loans, with returns amplified with leverage. This simple sta ...

Khosrork/iStock via Getty Images Overview Business Development Companies continue to be a great place to earn a higher yield and benefit from the higher interest rate environment. Crescent Capital BDC (NASDAQ:CCAP) has continued to rake in higher levels of net investment income, but the environment may be changing with interest rate cuts on the horizon. When I previously covered CCAP back in April, interest rate cuts seemed unlikely. However, recent economic data may be signaling a change in the market, ...

Ibrahim Akcengiz Earlier this year I wrote an article on Ares Capital (NASDAQ:ARCC) arguing why this BDC offers one of the best opportunities to enjoy solid returns from this specific sector. The bottom line was that ARCC has a truly diversified portfolio (on security, sector and asset class level) coupled with a strict underwriting policy that helps keep the underlying risk level low relative to the almost double-digit yield that is provided by this BDC. In other words, ARCC offers close to double-digi ...

Adam Gault 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. We also try to add some historical context as well as relevant themes that look to be driving the market or that investors ought to be mindful of. This update covers the period through the second week of July. ...

LOS ANGELES, July 18, 2024 (GLOBE NEWSWIRE) -- Crescent Capital BDC, Inc. (“Crescent BDC”) (NASDAQ: CCAP) today announced it will release its financial results for the second quarter ended June 30, 2024 on Monday, August 12, 2024 after market close. Crescent BDC invites all interested persons to attend its webcast/conference call on Tuesday, August 13, 2024 at 12:00 p.m. Eastern Time to discuss its second quarter ended June 30, 2024 financial results. Conference Call Information: The conference call will be ...

核心观点 - 文章讨论了如何通过短期交易策略识别具有持续上涨趋势的股票，并以Belden (BDC)为例，说明其符合这一策略的条件 [1][2][3] 价格趋势 - Belden (BDC)在过去12周内股价上涨了17.2%，显示出投资者对其潜在上涨空间的持续兴趣 [2] - 在过去四周内，BDC的股价继续上涨了1.4%，表明其上涨趋势仍在持续 [2] - BDC目前交易在其52周高低范围的92%处，暗示其可能即将突破 [2] 基本面分析 - BDC的Zacks排名为2（买入），表明其在超过4000只股票中位列前20%，基于盈利预测修订和EPS惊喜的关键因素 [3] - Zacks排名系统自1988年以来，Zacks排名1的股票平均年回报率为+25%，具有显著的外部审计记录 [3] - BDC的平均经纪商推荐为1（强力买入），表明经纪商群体对其短期股价表现非常乐观 [3] 投资策略 - 文章建议投资者考虑通过"近期价格强势"筛选器选择其他符合条件的股票，并使用Zacks研究向导来测试和优化投资策略 [4] - Zacks Premium提供了超过45种根据不同投资风格设计的筛选器，帮助投资者找到下一个成功的股票选择 [4]

文章核心观点 - 本文是一篇关于BDC(Business Development Company)行业的市场周报,主要介绍了BDC行业在过去一周的市场表现和相关主题 [6] - BDC行业在过去一周表现强劲,总回报率达到1.5%,优于整体收益市场 [7] - BDC行业估值已基本恢复之前的下跌,接近过去5年的峰值水平 [7] 行业和公司相关内容总结 BDC行业动态 - 高估值BDC如MAIN、CSWC和HTGC在本轮反弹中表现领先,这是BDC行业估值分化的常见模式 [7] - BDC行业整体估值接近5年高点,仍处于较高水平 [9] 公司动态 - Trinity Capital(TRIN)更新了2025年可转债的转换率,随着公司派息超过初始0.3美元的转换阈值,转换价格已调整至12.62美元 [8] - 可转债对管理层有一些好处,包括利息成本较普通债券更低,以及可以发行更多股票来增加资产规模和收费 [8] - 对现有股东来说,影响是利润摊薄,但长期来看随着新资本的运用,每股收益应该会增长 [8] 投资建议 - 尽管BDC行业整体估值不便宜,但仍有一些个股估值较为吸引人,如Blue Owl Capital Corp III(OBDE)、Golub Capital BDC(GBDC)和Barings BDC(BBDC)等 [10]