Spreads, SOFR curve and earnings sensitivity

On today’s show we welcome special guest, Kayne Anderson BDC President Frank Karl. Kayne Anderson BDC invests primarily in first lien senior secured loans with a secondary focus on unitranche and split-lien loans to private middle market companies. On the show, we discuss:

• Recent volatility in BDC prices and what is driving NAV discounts
• Credit market conditions amidst talk of “cockroaches” and negative headlines from First Brands and Tricolor
• Characteristics that make core middle market direct lending attractive for investors
• An update on private credit spreads and payment-in-kind loans
• And more!