BDCs took advantage of strong capital market conditions moving out of the pandemic to issue record amounts of unsecured debt, which enhanced funding flexibility and extended funding durations.
The amount of unsecured debt maturing in 2026 is 35.8% higher than the record amount issued in 2021. Combined with refinancing demand and new issuance activity associated with portfolio growth and new BDC entrants, unsecured funding mixes could decline meaningfully.
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US leveraged loans returns turn negative in October
The Bloomberg US Leveraged Loan Index (Ticker: LOAN) has returned -0.26% this month through October 21, reducing its year-to-date return…
M&A activity begins to tick upward
In the third quarter of 2026, acquisition-linked loan volume across North America and Europe reached about $47 billion, up from $30.6 billion in Q2 and $29.5 billion a year ago.
