BDC Weekly Roundup 4/8/2011

The BDCR Index had a small loss this past week by an amount of -0.27% from a level of 325.61 on 4/1/2011 to 324.75 for the week ending 4/8/2011. The major winners were TTO (+2.48%) and NGPC(+2.33%) and the major losers were PSEC (-4.68%) and KCAP (-3.87%).

Chart:

News from the past week:

BKCC - Earnings release AND call on May 9th. I suppose they would prefer investors not have time to really dissect the 10-Q this time...

FSC - Issued $150m in convertible notes with a conversion price of $14.76 and an interest rate of 5.375%

GAIN - Sale of $5.6m equity investment in Cavert and reinvestment into Subordinated Debt - http://www.gladstone.com/article.php?q=%3FModule%3DMediaViewer%26GUID%3D18077006%26Ticker%3DGAIN

PNNT - Sibling company PFLT has a poor IPO - http://www.reuters.com/article/2011/04/08/pennantpark-ipo-idUSN0829180920110408?feedType=RSS&feedName=rbssFinancialServicesAndRealEstateNews&rpc=43

PSEC - Publishes updated earnings guidance, new investment disclosures and sneaks in a secondary. They priced the offering at 11.40 which was highly below the current price, but accretive to Book Value - http://www.sec.gov/Archives/edgar/data/1287032/000104746911003314/a2203200z497.htm