Tuesday, February 22, 2011

BDC Weekly Roundup 2/22/2011

The BDCR Index edged out a nice gain last week by an amount of  2.01% from a level of 330.92 on 2/11/2011 to 337.57 for the week ending 2/18/2011. The major winners were ACAS (+10.77%) and EQS (+6.18%) and the major losers were CODI (-5.27%) and TINY (-2.94%).

Some quick notes on the chart, I have changed the scale from the average value to show the actual value. This has changed the slope of the line at a few points as the average values were at a different scale from the actual.

Some notable news items:
It appears this week was the week for key person turnover. Two BDC CEOs are leaving their posts, definitely worth monitoring this development.
ACAS - 4Q results top expectations. Still no dividend guidance though - http://finance.yahoo.com/news/American-Capital-4Q-results-apf-1937421312.html?x=0&.v=1
CODI - CEO Joe Massoud to take a leave of absence - http://finance.yahoo.com/news/Compass-Diversified-Holdings-prnews-2769409108.html?x=0&.v=1
FSC - Coverage initiated by FBR Capital
GAIN - Downgraded by Hilliard Lyons from Buy to Neutral
KFN - Earnings call transcript - http://seekingalpha.com/article/253666-kkr-financial-ceo-discusses-q4-2010-results-earnings-transcript?source=yahoo
MCGC - Will gain $50.4MM from sale of Avenue Broadband - http://www.bloomberg.com/news/2011-02-16/mcg-capital-to-get-50-4m-from-broadband-unit-sale.html
NGPC - John H. Homier (current CEO and President) will step down - http://finance.yahoo.com/news/NGP-Capital-Resources-Company-pz-3731910545.html?x=0&.v=1
PSEC - Added to S&P 600 SmallCap (see previous post). Priced out their $172.5mm (upsized from 150) convertible senior notes - http://seekingalpha.com/news-article/598332-prospect-capital-announces-pricing-of-150-million-of-5-5-5-5-year-unsecured-convertible-senior-notes-due-august-2016

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