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Stock Market & Financial Investment News

News Breaks
March 4, 2014
07:24 EDTACAS, ARCC, GBDC, MCC, TCPC, AINV, HRZN, SLRC, TICCBDC sector upgraded to Overweight at Wells Fargo
Wells Fargo upgraded the Business Development Company sector to Overweight from Market Weight after Russell announced that it will exclude BDCs from the Russell indices as a result of Acquired Fund Fees. Wells says any sell-off in the space will be due to technical and not fundamental reasons. The firm has Outperform ratings on American Capital (ACAS), American Capital (ARCC), Golub Capital (GBDC), Medley Capital (MCC) and TCP Capital (TCPC).
News For ACAS;ARCC;GBDC;MCC;TCPC;AINV;HRZN;SLRC;TICC From The Last 14 Days
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October 17, 2014
10:16 EDTARCCHigh option volume stocks
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October 13, 2014
16:33 EDTGBDCGolub Capital announces $331.5M in new middle-market orginations in Q4
Golub Capital announced that it originated $331.5M in new middle-market investment commitments during the three months ended September 30. Approximately 11% of the new middle-market investment commitments were senior secured loans, 81% were one stop loans, 6% were second lien and 2% were equity securities. Of the new middle-market investment commitments, $293.5M funded at close. In addition, during the three months ended September 30, Golub Capital invested $1.1M in Senior Loan Fund LLC, an unconsolidated Delaware limited liability company that invests in senior secured loans and is co-managed by Golub Capital and RGA Reinsurance Company. Total investments at fair value are estimated to have increased by $22.7M during the three months ended September 30, 2014 after factoring in debt repayments, sales of securities, net fundings on revolvers, and net change in unrealized gains (losses). Total investments at fair value held by SLF are estimated to have decreased by approximately $0.5M after factoring in debt repayments, sales of securities, net fundings on revolvers, and net change in unrealized gains (losses).
10:06 EDTACASAmerican Capital sells Unwired Holdings to Delphi Automotive for $138M
American Capital (ACAS) announced that its portfolio company Unwired Holdings, parent to Unwired Technology, was sold to Delphi Automotive (DLPH). American Capital and its affiliated fund received $176M in debt and equity proceeds and realized a gain of $70M from the transaction, subject to post-closing adjustments. Of the total proceeds, American Capital received $138M in debt and equity proceeds, realizing a gain of $53M from the transaction, subject to post-closing adjustments. American Capital's compounded annual rate of return earned on its debt and equity securities over the life of its investment was 16%, including interest, dividends, realized gains and fees. American Capital received 2.4 times its equity investment and realized a compounded annual rate of return of 17% over the life of its equity investment, including dividends, realized gains and fees.

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