BDC Weekly Review: Bond Issuance Remains An Income Headwind
Through the second week of September, business development companies declined amid rising yields, Fed rate hike expectations, and geopolitical tensions. Recent bond issuances by ARCC, CSWC, OCSL, and OTF highlight sector-wide net income headwinds from refinancing at higher rates.
Why it matters — A BDC watcher would care because higher-rate refinancing creates ongoing headwinds to sector net income.