Belden Inc. (BDC)

KBDC has been my Top 1 first-lien focused BDC for a long time. The past couple of months have been extra painful for KBDC. Currently, we can buy KBDC at a similar discount to the sector median.

NEW YORK--(BUSINESS WIRE)--Golub Capital BDC, Inc., a business development company (NASDAQ: GBDC, www.golubcapitalbdc.com), announced today that it will report its financial results for the quarter and the year ended September 30, 2025 on Tuesday, November 18, 2025 after the close of the financial markets. Golub Capital BDC, Inc. will host an earnings conference call at 10:00 a.m. (Eastern Time) on Wednesday, November 19, 2025 to discuss its quarterly financial results. All interested parties m.

CHARLOTTE, N.C.--(BUSINESS WIRE)--Barings BDC, Inc. (NYSE: BBDC) (“Barings BDC” or the “Company”) today announced that the Company's Board of Directors (the “Board”) declared a quarterly cash dividend of $0.26 per share for the quarter ending December 31, 2025. The Company also announced that it will report its financial results for the third quarter ended September 30, 2025 on Thursday, November 6, 2025, after the market closes. The Company has scheduled a conference call to discuss third quar.

MISSION WOODS, Kan.--(BUSINESS WIRE)--Palmer Square Capital BDC Inc. (NYSE: PSBD) ("Palmer Square" or the "Company"), an externally managed business development company, today announced that it will release its financial results for the third quarter ended September 30, 2025, before the market opens on Wednesday, November 5, 2025. Palmer Square will host a conference call at 1:00 pm ET that day to review its financial performance and conduct a question-and-answer session. To participate in the.

REDWOOD CITY, Calif., Oct. 01, 2025 (GLOBE NEWSWIRE) -- Bolt Biotherapeutics (Nasdaq: BOLT), a clinical-stage biopharmaceutical company developing novel immunotherapies for the treatment of cancer, today announced an update on the ongoing Phase 1 dose escalation study of BDC-4182, a next-generation Boltbody™ ISAC clinical candidate targeting claudin 18.2, a clinically validated target in oncology. A strong immune response was observed at the initial dose levels and the Company is in the process of modifying the clinical trial protocol to allow for step-up dosing, which has been successfully used commercially for T-cell engagers. BDC-4182 preclinical data supports this approach.

Golub Capital BDC (GBDC) is downgraded to a hold due to thin dividend coverage and a downward trending NAV per share. GBDC offers a high 12% dividend yield, but future payouts are at risk if net investment income declines further, especially with more rate cuts. The portfolio remains strong with first lien debt and improving non-accruals, but rising PIK income and higher leverage raise caution.

PUNE, India--(BUSINESS WIRE)--Belden Inc. (NYSE: BDC), a leading global provider of complete connection solutions, proudly announces the inauguration of its Pune Plant 2, a significant milestone in the company's ongoing commitment to innovation, operational excellence and sustainable growth. The inauguration ceremony was led by Dr. Ashish Chand, Belden's President and CEO, alongside the senior leadership team. A Major Leap Forward for Belden in the Asia Pacific Region The new five-story facilit.

BDCs have already experienced a notable correction. The sector median P/NAV metric indicates ~12% discount to NAV. Many players are priced even below that.

MISSION WOODS, Kan.--(BUSINESS WIRE)--Palmer Square Capital BDC Inc. (NYSE: PSBD) (“Palmer Square” or the “Company”), an externally managed business development company, today announced that its Board of Directors has declared a third quarter 2025 supplemental dividend of $0.06 per share. Shareholders of record as of September 26, 2025, will receive the supplemental dividend, payable on October 14, 2025. The supplemental dividend will be paid out of the excess of the Company's quarterly undistr.

Chicago Atlantic BDC remains a Hold due to weak dividend coverage and increased reliance on PIK interest income. LIEN's portfolio is heavily concentrated in the cannabis sector, with 78% exposure, and benefits from 100% senior secured loans. Recent earnings show stable net investment income but rising expenses and PIK income, signaling potential stress among portfolio companies.

14 BDCs have base dividend coverage levels between 100% and 105%. 16 BDCs have them already below 100%. Given the unfavorable future earnings outlook, a system-wide BDC dividend cutting process is very likely to start quite soon.

We take a look at the action in business development companies through the first week of September and highlight some of the key themes we are watching. BDCs were mostly down on the week as valuations remain attractive in aggregate. Gladstone Capital Corp. issued a high-coupon convertible bond, reflecting limited growth prospects.

NEW YORK--(BUSINESS WIRE)--Golub Capital BDC, Inc. (the “Company,” “we,” “us” or “our”), a business development company (Nasdaq: GBDC), announced that it has priced an underwritten public offering of an additional $250 million in aggregate principal amount of 7.050% notes due 2028 (the “Notes”). The Notes will mature on December 5, 2028 and may be redeemed in whole or in part at the Company's option at any time prior to November 5, 2028, at par plus a “make-whole” premium, and thereafter at par.

Blue Owl Capital Corporation remains a hold, offering an attractive 11.7% dividend yield but facing declining NAV and modest earnings growth. OBDC's portfolio is well-diversified, with 98% floating rate loans and a strong focus on first lien senior secured debt, supporting resilience in a high-rate environment. Despite a discount to NAV and healthy dividend coverage, OBDC's net investment activity is negative and asset base is shrinking, limiting near-term upside.

In December 2023, I opened a position in Gladstone Capital, which I then closed exactly 1 year later, capturing ~40% in total returns. In late 2024, I decided to rotate out because of the aggressive P/NAV relative to the embedded growth prospects. Since then, GLAD has significantly underperformed the index.

Board Unanimously Recommends Shareholders Vote “FOR” Each of the  Proposals to Effectuate AFC's Conversion from REIT to BDC