VANCOUVER, BC and CALGARY, AB, Sept. 12, 2024 /PRNewswire/ - Northstar Clean Technologies Inc. (TSXV: ROOF) (OTCQB: ROOOF) ("Northstar" or the "Company") is pleased to announce that it has completed its first draw of approximately C$1.6 million under its C$8.75 million non-revolving senior secured project loan facility (the "BDC Facility") with the Business Development Bank of Canada ("BDC"), previously announced by the Company on July 7, 2023, for the planned asphalt shingle reprocessing facility in Calgar ...

MicroStockHub Focus of Article: The focus of this two-part article is a very detailed analysis comparing Golub Capital BDC Inc.’s (NASDAQ:GBDC) to some of the company’s business development company (“BDC”) peers (all sector peers I currently fully cover). I am writing this two-part article due to the continued requests that such an analysis be specifically performed on GBDC and some of the company’s BDC peers at periodic intervals. For readers who just want the summarized conclusions/results, I would su ...

ryasickGolub Capital BDC (NASDAQ:GBDC) recently completed its merger with Golub Capital 3 BDC which has led to a much bigger market portfolio value for the BDC. Golub Capital’s net investment income outstripped its dividend by a good margin in the second quarter, leading to a safe 12% yield for income investors. Golub Capital also convinces in terms of non-accrual percentage which, despite edging up post-merger, the longer term trend is very much favorable. I also like that Golub Capital's shares have f ...

DNY59/E+ via Getty Images There is a lot of talk about how BDC earnings have peaked and that the next steps from here are directed towards higher volatility and uncertainty around future dividends. There are some, in my opinion, transitory dynamics that drive this, such as subdued M&A activity and increased corporate defaults. However, the structural forces behind all of this are spread compression and, importantly, the expected normalization in the interest rate levels (although what is normal depends ...

Adam Gault In this article, we highlight our recent starter position in the Barings BDC (NYSE:BBDC). The company is overweight Tech, Healthcare and Finance sectors, fairly typical of the average BDC. BBDC trades at a 12% discount to book and a 10.4% dividend yield with a 13% trailing-twelve month net investment income yield. We maintain a Hold rating on the stock - unchanged from our previous review. The company has a relatively high allocation to Equity securities. It is overweight in Tech, Healthcare and ...

tadamichi 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 last week of August. Marke ...

skynesher/E+ via Getty Images Overview In the world of higher interest rates, business development companies were the place to be, since they were able to effectively bring in higher levels of earnings through various streams of debt investments. Since I last covered Barings BDC (NYSE:BBDC) back in May, it has provided a total return of 8.7% which has outpaced that of the S&P 500. At the time, BBDC was trading at an attractive valuation and showed portfolio strength to navigate the higher rate environment. ...

cemagraphicsPalmer Square Capital BDC Inc. (NYSE:PSBD) is a relatively new BDC that was made public in January this year. Although it is still fresh and with a limited public track-record, looking at the fundamentals and the business model, it looks like a very enticing BDC for defensive yield-seeking investors to consider. So far, PSBD has delivered total returns that are almost perfectly in line with the BDC index. Here we can note that PSBD did not experience a negative downturn after the release of ...

Henrik Sorensen Sixth Street Specialty Lending (NYSE:TSLX) reported a decline in net funded investment activity in the second quarter, due to faster repayments from its mostly First Lien investments. The business development company comfortably out-earned its dividend with adjusted net investment income in the second quarter, and the 10% dividend yield should be relatively secure. Though there are risks related to the company’s fairly aggressive floating-rate posture in a lower interest rate environment ...

tadamichi In this article, we take a look at the Q2 results for the BDC Morgan Stanley Direct Lending Fund (NYSE:MSDL). MSDL falls under the $18bn Morgan Stanley private credit platform, which itself sits under the $1.5trn Morgan Stanley Investment Management. The company completed its initial public offering earlier this year, after operating as a private BDC for several years. MSDL trades at an 11.6% yield - above the median in our coverage, and a slight discount to book. MSDL delivered a 3.3% total NAV r ...