BDCs are required to maintain minimum asset coverage of 150% providing strong protection to bondholders, which is one of the reasons that no publicly-traded BDC has ever filed for bankruptcy nor defaulted on bondholders in the history of the sector.

Source: https://seekingalpha.com/article/4637472-capital-southwest-stock-or-bonds-for-your-retirement-portfolio?source=feed_all_articles

BDCs - business development companies - are one such option, a type of special company that invests in the debt of middle market companies: companies that are too small to access the bond market but too large for small business loans.

Source: https://seekingalpha.com/article/4581976-owl-rock-capital-10-percent-income-yield-management-aligned-with-shareholders?source=feed_all_articles

BDCs in general can choose to invest in many types of debt and equity investments, of varying levels of riskiness.

Source: https://seekingalpha.com/article/4611149-goldman-sachs-bdc-gsbd-13-percent-dividend-yield-not-compensate-poor-underwriting?source=feed_all_articles

BDCs play a role in the fund's expenses but aren't visible.

Source: https://seekingalpha.com/article/4580297-fgb-back-in-deep-discount-territory?source=feed_all_articles

BDCs were flat during the week, taking a breather from the recent strong run.

Source: https://seekingalpha.com/article/4586707-bdc-weekly-review-why-analysts-were-pessimistic-about-net-income-performance?source=feed_all_articles

By investing in the following BDCs, investors can secure high yields on cost and enjoy appealing total return potential at present prices.

Source: https://investorplace.com/2023/04/3-high-yield-business-development-companies-to-consider/

Credit quality is definitely one factor that sets BXSL apart from other BDCs.

Source: https://seekingalpha.com/article/4642409-blackstone-secured-lending-superior-credit-quality-strong-coverage-undervalued-11-2-percent-yield?source=feed_all_articles

Different BDCs focus on different parts of the middle-market space, though this is typically not due to choice.

Source: https://seekingalpha.com/article/4655513-bdc-weekly-review-lower-vs-upper-middle-market-cage-match?source=feed_all_articles

I have full positions taken out between early 2022 and mid 2023 in 15 BDCs and half positions in another 8 BDCs.

Source: https://seekingalpha.com/article/4658166-bdc-weekly-review-why-price-targets-may-not-work-well-for-bdc-allocation?source=feed_all_articles

I have full positions taken out between early 2022 and mid 2023 in 15 BDCs and half positions in another 8 BDCs.

Source: https://seekingalpha.com/article/4658166-bdc-weekly-review-why-price-targets-may-not-work-well-for-bdc-allocation?source=feed_all_articles

I mention this because I favor BDCs with strong balance sheets and defensively oriented debt investment structures, and Sixth Street Lending fits right in.

Source: https://seekingalpha.com/article/4585910-sixth-street-specialty-9-6-percent-yielding-bdc?source=feed_all_articles

In short, there are some higher-quality BDCs and some lower-quality BDCs and the historic loss calculation does not even approach a sensible analysis of the sector.

Source: https://seekingalpha.com/article/4604920-allocate-to-bdcs-for-the-right-reasons?source=feed_all_articles

In short, there are some higher-quality BDCs and some lower-quality BDCs and the historic loss calculation does not even approach a sensible analysis of the sector.

Source: https://seekingalpha.com/article/4604920-allocate-to-bdcs-for-the-right-reasons?source=feed_all_articles

Many BDCs in 2023 have been repositioning their portfolios by focusing more on first-lien/senior secured loans.

Source: https://seekingalpha.com/article/4660143-fs-kkr-is-the-discount-to-nav-justified-or-is-it-a-bargain?source=feed_all_articles

On the face of it, it seems odd that BDCs are happy to lock in a high level of interest expense.

Source: https://seekingalpha.com/article/4614763-bdc-weekly-review-why-are-bdcs-issuing-expensive-debt?source=feed_all_articles

Some BDCs have reported interst covg of their investments but sort of hide it by looking at LTM vs current levels when rates are higher.

Source: https://seekingalpha.com/article/4622343-solid-10-percent-yield-from-blue-owl-or-sixth-street?source=feed_all_articles

The new directive is in a by its Director of Trade and Exchange Department, Dr O.S Nnaji, to BDCs on Friday, August 18, 2023.

Source: https://www.legit.ng/business-economy/money/1549794-after-legitng-report-cbn-returns-sale-bdc-operators-forex-market-sets-conditions/

There are many other high yield investment options with good dividend growth (ADC, various BDCs).

Source: https://seekingalpha.com/article/4642322-physicians-realty-trust-8-percent-yield-oversold-near-52-week-lows?source=feed_all_articles

There's three public BDCs, including us, who have the asset.

Source: https://seekingalpha.com/article/4576947-pennantpark-investment-corporation-pnnt-q1-2023-earnings-call-transcript?source=feed_all_articles

This presents a complex situation for BDCs, as they temporarily earn higher income from above-average interest rates, but also suffer permanent income losses from principal losses.

Source: https://seekingalpha.com/article/4614426-hercules-capital-a-solid-hold-yielding-over-10-percent?source=feed_all_articles