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MSDL

Morgan Stanley Direct Lending Fund (MSDL) is a highly defensive BDC focusing on first-lien debt in non-cyclical sectors. It offers attractive dividend coverage but may face challenges if Fed rate cuts occur due to its floating-rate debt investments. MSDL's valuation is appealing, with potential for premium reestablishment.

Portfolio Pulse from

December 15, 2024 | 4:30 am

HYB

HYB is converting to an ETF in February 2025, eliminating leverage and the discount to NAV, which removes the arbitrage opportunity. With credit spreads at historic lows, the current 5.7% yield is unattractive, increasing downside risk. Structural changes will involve asset sales to repay borrowings, potentially altering the portfolio significantly post-conversion.

Portfolio Pulse from

December 14, 2024 | 6:00 pm

HLRTF

Hillcrest Energy Technologies announced a private placement to raise up to $2 million by issuing 11,111,111 units at $0.18 each. Part of the funds will settle $1.5 million in outstanding debt. The company also terminated its equity drawdown facility.

Portfolio Pulse from

December 13, 2024 | 10:30 pm

CC

The Chemours Company has completed the repricing of its Euro denominated term loan, which could impact its financial costs and overall financial health.

Portfolio Pulse from

December 13, 2024 | 9:45 pm

OPBK

OP Bancorp has appointed Yeong Gwon Pak as the new Chief Credit Officer, effective December 30, 2024. This is part of a succession plan where the current Chief Credit Officer, Sang Oh, will become the CEO.

Portfolio Pulse from

December 13, 2024 | 9:00 pm

DREUF

Dream Industrial REIT's Q3 2024 FFO exceeded estimates, and the company improved its liquidity by extending a term loan and increasing its revolving facility. Despite poor stock performance, the company's financials show strength.

Portfolio Pulse from

December 13, 2024 | 7:30 pm

AFRM

Affirm (AFRM) has entered into a $4 billion financing partnership with Sixth Street, marking a significant investment by a private credit firm into the fintech sector.

Portfolio Pulse from

December 13, 2024 | 6:30 pm

FRU

Freehold Royalties Ltd. has completed a $259 million acquisition of mineral title and royalty interests in the Midland Basin, Texas. The company also announced an increase in its credit facility and declared a dividend for December 2024.

Portfolio Pulse from

December 13, 2024 | 6:00 pm

ATO

Atmos Energy (ATO) is recommended for investment due to its promising growth prospects, effective debt management, and potential to enhance shareholder value.

Portfolio Pulse from

December 13, 2024 | 4:45 pm