PennantPark Floating Rate Capital increased the size of its multi-currency, senior secured credit facility (as amended, the “Credit Facility”) from $300 million to $366 million and replaced the London interbank offer rate, or LIBOR, benchmark...
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September 22, 2022, 06:04 AM
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Capital Southwest Corporation, an internally managed business development company focused on providing flexible financing solutions to support the acquisition and growth of middle market businesses, backed Xyresic Capital’s (“Xyresic”) acquisition of...
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December 27, 2021, 07:00 AM
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Capital Southwest Corporation recently supported Kainos Capital in its acquisition of Muenster Milling with a revolving credit facility, first lien term loan and delayed draw term loan. Capital Southwest led the financing and will act as the sole...
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August 17, 2021, 07:00 AM
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PennantPark Floating Rate Capital appointed Richard Cheung as its Chief Financial Officer and Treasurer, effective June 21, 2021.Cheung most recently served as Senior Managing Director and Head of Alternative Investment Accounting at Guggenheim...
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June 22, 2021, 07:00 AM
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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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Golub Capital BDC, Inc., a business development company, announced that it originated $156.0 million in new middle-market investment commitments during the three months ended June 30, 2016. Approximately 81% of the new middle-market investment...
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July 12, 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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