Rising short-term rates will likely provide an earnings boost to business development companies (BDCs) in the near term as LIBOR rates approach loan-specific floors, says Fitch Ratings. BDCs are generally interest rate sensitive asmost investment...
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December 15, 2016, 07:46 AM
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Newtek Business Services Corp., an internally managed business development company, announced that it has completed its seventh and largest small business loan securitization. The securitization resulted in the issuance and sale of $43,632,000 of...
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November 16, 2016, 07:12 AM
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The Sector and Rating Outlooks for business development companies (BDCs) remain Negative for 2017, according to Fitch Ratings' 2017 BDC outlook report. Fitch has maintained Negative BDC Sector and Rating Outlooks for more than two years and the...
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October 25, 2016, 08:07 AM
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Corporate Capital Trust, a business development company that provides individuals the opportunity to invest in the debt of privately owned American companies, announced favorable changes to its senior secured credit facility, resulting in an...
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April 20, 2016, 07:19 AM
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Fitch Ratings completed its periodic review of Business Development Companies (BDCs), which comprises ten publicly rated firms. The following actions were taken as a result of the peer review:
American Capital, Ltd.'s ratings were placed on Rating...
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March 14, 2016, 08:00 AM
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Golub Capital BDC, Inc., a business development company, announced that it originated $149.9 million in new middle-market investment commitments during the three months ended December 31, 2015. Approximately 76% of the new middle-market investment...
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January 11, 2016, 07:49 AM
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Capitala Finance Corp. announced the expansion of total commitments under its credit facility from $80.0 million to $120.0 million. The $40.0 million increase in total commitments was the result of new lender relationships, which further diversifies...
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August 26, 2015, 07:10 AM
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Sierra Income Corporation announced the closing of an additional $20 million of commitments to its senior secured revolving credit facility (the "Credit Facility"). The Credit Facility was arranged and led by ING Capital LLC. One additional lender...
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February 17, 2015, 07:08 AM
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On December 18, 2014, New Mountain Finance Corporation (the “Company”) entered into the Second Amended and Restated Loan and Security Agreement (the “New Holdings Credit Facility”), by and among the company, as the collateral manager, New Mountain...
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December 24, 2014, 07:09 AM
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Alcentra Capital Corporation increased its revolving credit facility to $115 million. The revolver was increased by $35 million via an amendment. There is an accordion feature that allows the facility to increase to $160 million. ING Capital LLC is...
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December 23, 2014, 07:44 AM
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The Small Business Investor Alliance (SBIA), the leading association for lower middle-market private equity funds and investors, applauds the decision by the SEC to provide regulatory relief to Business Development Companies. The SEC guidance update...
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December 08, 2014, 07:08 AM
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Prospect Capital Corporation announced it has completed the extension of the revolving credit facility (the "Facility") for Prospect Capital Funding LLC ("PCF"), a consolidated subsidiary of Prospect, extending the term 5.5 years from today...
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September 02, 2014, 07:46 AM
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Prospect Capital Corporation announced that Prospect has increased total commitments to its five-year $1.0 billion revolving credit facility (the "Facility") by $10.0 million to $877.5 million in the aggregate.The facility includes an accordion...
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July 25, 2014, 07:08 AM
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Prospect Capital Corporation announced that Prospect has provided a $65 million first-lien floating-rate credit facility to support the recapitalization of Fleetwash, Inc. and affiliates ("Fleetwash") by DFW Capital Partners ("DFW Capital") and...
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June 02, 2014, 07:39 AM
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Garrison Capital Inc., a business development company, announced that the U.S. Small Business Administration ("SBA") has issued a "green light" letter inviting Garrison Capital Inc. to proceed with an application to obtain a license to form and...
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June 02, 2014, 07:27 AM
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Golub Capital BDC, Inc. a business development company announced that its wholly-owned and consolidated subsidiary, Golub Capital BDC CLO 2014 LLC, has priced a twelve year $400 million term debt securitization.Click here to view the structure of the...
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May 15, 2014, 07:09 AM
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Prospect Capital Corporation announced that Prospect has increased total commitments to its five-year $1.0 billion revolving credit facility (the "Facility") by $35.0 million to $792.5 million in the aggregate.
The facility includes an accordion...
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April 01, 2014, 07:33 AM
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Golub Capital BDC, Inc., a business development company, announced that it plans to make a public offering of 3,500,000 shares of its common stock. The company also plans to grant the underwriters an option to purchase up to an additional 525,000...
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March 18, 2014, 07:11 AM
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Prospect Capital has expanded the accordion feature of its Prospect Capital Funding LLC five-year revolving credit facility from $650 million to $1 billion and increased the commitments to the facility by $62.5 million to $712.5 million.The $62.5...
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January 17, 2014, 07:22 AM
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Golub Capital BDC, a business development company, announced that it originated $261.1 million in new middle-market investment commitments during the three months ended December 31, 2013. Approximately 13% of the new middle-market investment...
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January 13, 2014, 07:20 AM
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OFS Capital Corporation, a business development company (BDC), announced its wholly owned subsidiary, OFS Capital WM, LLC, has entered into an amendment that extends the terms of its senior secured revolving credit facility with Wells Fargo Bank...
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November 27, 2013, 07:49 AM
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Horizon Technology Finance Corporation, a leading specialty finance company that provides secured loans to venture capital and private equity backed development-stage companies in the technology, life science, healthcare information and services, and...
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October 31, 2013, 07:29 AM
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FS Investment Corporation ("FSIC"), a business development company focused primarily on investing in the debt securities of private U.S. companies, announced today that it committed over $398 million toward proprietary investments in middle market...
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October 21, 2013, 08:03 AM
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MVC Capital, Inc., a publicly traded business development company that makes private debt and equity investments, announced that Branch Banking and Trust Company ("BB&T") has provided the company with a $50 million one-year revolving credit...
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August 06, 2013, 07:07 AM
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Full Circle Capital Corporation announced the closing of a new three-year, senior revolving credit facility with Sovereign Bank, N.A.
The new $32.5 million credit facility has a maturity date of June 3, 2016. Borrowings under the facility will bear...
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June 04, 2013, 07:23 AM
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Horizon Technology Finance closed a $3 million venture loan facility with Razorsight Corporation, a provider of cloud-based financial assurance and predictive analytics solutions for communications service providers. The proceeds of the venture loan...
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April 12, 2013, 08:03 AM
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