BDCs boosting leverage [Seeking Alpha]
FS INVESTMENT CORP (FSIC)
Last fs investment corp earnings: 11/7 04:15 pm
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Source: Seeking Alpha
BDCs boosting leveragevai Leela Parker Deo at ReutersApollo Investment (NASDAQ:AINV), FS Investment (NYSE:FSIC), PennantPark Floating Rate (NASDAQ:PFLT), and Gladstone Capital (NASDAQ:GLAD) are among those who have received board approval for increased leverage. Ares Capital (NASDAQ:ARCC) plans to discuss the same with its board.The moves come after last month's passage of the Small Business Credit Availability Act, which lowered asset coverage requirements for BDCs to 150% from 200% (effectively allowing max leverage of 2:1 vs. 1:1 previously).The industry had been working for more than five years for this change. Now that it has it, look for even more competition in the already-busy middle-market loan sector.Other players of interest: Prospect Capital (NASDAQ:PSEC), KCAP Financial (NASDAQ:KCAP), Saratoga Investments (NYSE:SAR), THL Credit (NASDAQ:TCRD)ETFs:BDCL,BDCS,BIZD,FGB,LBDCClick to subscribe to real-time analytics on AINVNow read:First-Lien Portfolio Currently Paying A 9% Divi
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