PODCAST: King & Spalding and Lincoln talk BDC valuation - Middle Market Junction

13 December 2017

The final 2017 edition of the Middle Market Junction Podcast brings in W. Todd Holleman, a partner and head of the BDC practice at King & Spalding, and Brian Garfield, a director in Lincoln International’s valuations and opinions group to discuss how business development companies (BDCs) mark-to-market (MTM) their loans on a quarterly basis.

 

As publicly-traded companies, BDCs are required to disclose every quarter how they mark their holdings in primarily middle market leveraged loans. At times, these marks have been scrutinized particularly when other BDCs invest in the same loan and have a different mark and/or they invest in bigger deals which are syndicated, and therefore the loan is widely quoted.

 

Joining the discussion is Bill Weisbrod, the primary issuance reporter for Debtwire Middle Market and Jon Berke, editor of Debtwire Middle Market.

 

CLICK HERE to listen to the podcast

CLICK HERE to read a recent Middle Market Memo on consolidation in the BDC industry