After ending its Senior Secured Loan Program (or SSLP) with GE Capital, Ares Capital (ARCC) is successfully building up a new senior direct lending program (or SDLP).
Leverage declines Prospect Capital (PSEC) has been operating at higher leverage to take advantage of low rates. The company saw higher net exits in fiscal 2Q17, which led to lower leverage. Notably, Prospect’s fiscal 2Q17 net debt-to-equity ratio declined to 76.2% from its fiscal 2Q16 debt-to-equity ratio of 80.2% and 77.4% in the two previous quarters. As […]
Controlled, online lending Prospect Capital’s (PSEC) controlled investments in fiscal 2Q17 rose to 31.5% of its total portfolio, compared with 30.6% in the previous quarter. The company targets selective exits to raise capital when it has found attractive pricing. In fiscal 2Q17, it saw net exits of $175.5 million, compared with net investments of $232.8 million […]
Prospect Capital (PSEC) has deployed money for equity investments and majority stake when there’s an opportunity for an investment in growing businesses.
After ending the senior secured loan program with GE Capital, Ares Capital (ARCC) is successfully building up a new senior direct lending program (or SDLP).
Prospect Capital has been operating at higher leverage to take advantage of low rates. But the Fed is expected to raise interest rates in calendar 4Q16.
Prospect Capital has seen strong growth in originations through its online platform. The company has entered into the online lending business with National Property REIT.
Prospect Capital’s (PSEC) controlled investments in fiscal 4Q16 declined to 29.7% of its total portfolio, as compared to 33.3% in the previous quarter.
Closed-end funds will be tested on a quality of their portfolios. Companies with higher leverage and lower grade investments will see discounted valuations.
Ares Capital’s (ARCC) net DE (debt-to-equity) ratio decreased to 0.77x as of March 31, 2016, marginally above the 0.65x–0.75x the management had targeted.
Ares Capital’s (ARCC) SDLP will underwrite and hold first lien loans including stretch senior and unitranche loans that are originated by Ares and Varagon.
Prospect Capital is deploying higher leverage to take advantage of low interest rates. Its fiscal 2Q16 net debt-to-equity ratio rose marginally to 77.9%.
Prospect Capital (PSEC) suspended its market equity issuances for the indefinite future due to unattractive share price levels. This reduction in equity and asset growth has resulted in lower net origination volumes than in previous quarters.
Prospect Capital (PSEC) is deploying investments for the online lending industry, with a focus on near-prime, prime, and subprime consumers as well as small business borrowers.
VWEHX looks like one of the safest funds to be around in case liquidity dries up temporarily. The fund mainly avoided investing in the deep end of the junk category.
Ares Capital had cash, revolving lines of credit, and small business administration, or SBA, debentures of $2.4 billion as of June 30, 2015, for investments.
Since the announcement of General Electric’s divestiture, Ares Capital has focused on how to best capitalize on the exit of GE Capital, one of the largest players in the market.
