| CEF Weekly Review: All Quiet On The Distribution Front |
We review the CEF market valuation and performance through the first week of May and highlight recent market action. CEFs had a strong week, nearly recovering from the Liberation Day sell-off. The CEF market saw minimal distribution changes, with only minor adjustments from BlackRock and Eaton Vance, due to flat short-term rates and low volatility. |
seekingalpha.com |
2025-05-11 07:15:02 |
Czytaj oryginał (ang.) |
| It's Raining CLO Equity CEFs And Why We Got Longer |
The CLO Equity CEF sector has doubled in size over the past two years, driven by new entrants and favorable market conditions. Key catalysts include a benign default environment, tightening credit spreads, and the attractiveness of floating-rate assets amid a flat/inverted yield curve. CLO Equity funds benefit from embedded options like reinvestment and call options, which enhance returns during periods of market volatility. |
seekingalpha.com |
2025-05-08 10:42:54 |
Czytaj oryginał (ang.) |
| Pearl Diver Credit Company Inc. Declares Monthly Dividends |
NEW YORK and LONDON , May 5, 2025 /PRNewswire/ -- Pearl Diver Credit Company Inc. (NYSE: PDCC, PDPA) (the "Company") today announced that its Board of Directors has declared a regular monthly dividend on shares of the Company's common stock of $0.22 per share for May, June, and July 2025. PDCC Inc. declares dividends on common and preferred stock for the months of May, June, and July 2025. |
prnewswire.com |
2025-05-05 20:32:00 |
Czytaj oryginał (ang.) |
| Pearl Diver Credit Company Inc. Announces First Quarter 2025 Financial Results |
NEW YORK and LONDON , April 29, 2025 /PRNewswire/ -- Pearl Diver Credit Company Inc. (NYSE: PDCC, PDPA) (the "Company") today announced financial results for the first quarter ended March 31, 2025. First Quarter 2025 Highlights (on a linked quarter basis) Net asset value per share of common stock $18.33 as of March 31, 2025, compared to $19.89 per share as of December 31, 2024. |
prnewswire.com |
2025-04-29 12:32:00 |
Czytaj oryginał (ang.) |
| Pearl Diver Credit Company Inc. Announces First Quarter 2025 Earnings Conference Call |
NEW YORK and LONDON , April 22, 2025 /PRNewswire/ -- Pearl Diver Credit Company Inc. (NYSE: PDCC, PDPA) (the "Company") today announced that its first quarter 2025 financial results will be released before market open on Tuesday, April 29, 2025. The Company will host a conference call at 11:00 a.m. |
prnewswire.com |
2025-04-22 20:31:00 |
Czytaj oryginał (ang.) |
| Why CLO Equity Could Be In For More Pain Ahead (And How To Navigate It) |
CLO equity prices are facing pressure from rising risks and default expectations. CLO equity is still generating strong cash flows for patient investors. Our CEF rotation strategy can deliver alpha during volatile market conditions. |
seekingalpha.com |
2025-03-27 16:54:01 |
Czytaj oryginał (ang.) |
| CEF Weekly Review: Fixed-Income CEF Coverage Rises Modestly |
We review the CEF market valuation and performance through the second week of March and highlight recent market action. CEFs faced pressure from rising credit spreads and lower stocks, with most sectors down over the week, but year-to-date performance remains mostly positive. In response to Fed's rate cuts, distribution coverage across bond CEFs has risen while loan CEF coverage has fallen. |
seekingalpha.com |
2025-03-22 11:46:35 |
Czytaj oryginał (ang.) |
| Closed-End Funds: Seeking Stable Yields From CLO Baby Bonds And Preferred |
Collateralized loan obligation CEFs offer high yields but come with significant leverage, volatility and higher risk, making them less appropriate for all income investors. Baby bonds and preferred offerings from CLO CEFs provide safer, more stable income, balancing risk-reward when it comes to seeking income. We have new offerings in the space since our last update, leading to greater diversification potential and increasing the viability of setting up a ladder of maturities. |
seekingalpha.com |
2025-03-20 13:17:06 |
Czytaj oryginał (ang.) |
| CEF Weekly Review: The Different Flavors Of Net Investment Income |
We review the CEF market valuation and performance through the last week of February and highlight recent market action. CEF market saw mixed performance with Muni sectors outperforming due to lower Treasury yields, while Equity-linked sectors underperformed. CCIF declared Q4 numbers with a wide variation between GAAP and Core net investment income. |
seekingalpha.com |
2025-03-08 09:30:27 |
Czytaj oryginał (ang.) |
| CEF Weekly Review: Explaining Preferred CEFs Double-Digit Gains |
We review the CEF market valuation and performance through the first week of February and highlight recent market action. CEFs had a strong week, with most sectors in the green, driven by EM Equity and Muni sectors, and year-to-date gains in both NAVs and discounts. We take a look at why preferred CEFs have sharply outperformed their ETF counterparts last year. |
seekingalpha.com |
2025-02-15 09:32:29 |
Czytaj oryginał (ang.) |
| Pearl Diver Credit Company Inc. Declares Monthly Dividends |
NEW YORK and LONDON , Feb. 3, 2025 /PRNewswire/ -- Pearl Diver Credit Company Inc. (NYSE: PDCC, PDPA) (the "Company") today announced that its Board of Directors has declared a regular monthly dividend on shares of the Fund's common stock of $0.22 per share for February, March, and April 2025. PDCC declares $0.22 per common share dividend for February, March, and April 2025. |
prnewswire.com |
2025-02-03 18:32:00 |
Czytaj oryginał (ang.) |
| Pearl Diver Credit Company Inc. Announces Fourth Quarter 2024 Financial Results |
NEW YORK and LONDON, Jan. 28, 2025 /PRNewswire/ -- Pearl Diver Credit Company Inc. (NYSE: PDCC) (the "Company") today announced financial results for the fourth quarter ended December 31, 2024. Fourth Quarter 2024 Results Net asset value per share of common stock $19.89 as of December 31, 2024. |
prnewswire.com |
2025-01-28 09:32:00 |
Czytaj oryginał (ang.) |
| Pearl Diver Credit Company Inc. Announces Fourth Quarter 2024 Earnings Conference Call |
NEW YORK and LONDON , Jan. 21, 2025 /PRNewswire/ -- Pearl Diver Credit Company Inc. (NYSE: PDCC, PDPA) (the "Company") today announced that its fourth quarter 2024 financial results will be released before market open on Tuesday, January 28, 2025. The Company will host a conference call at 11:00 a.m. |
prnewswire.com |
2025-01-21 18:32:00 |
Czytaj oryginał (ang.) |
| Pearl Diver Credit Company Inc. Announces Full Exercise of Overallotment Option on Offering of Series A Preferred Stock |
NEW YORK and LONDON , Jan. 6, 2025 /PRNewswire/ -- Pearl Diver Credit Company Inc. (NYSE: PDCC) (the "Company") today announced that the underwriters of its previously announced public offering (the "Offering") of the Company's 8.00% Series A Preferred Stock Due 2029 (the "Preferred Shares") have fully exercised their option to purchase an additional 180,000 Preferred Shares at a public offering price of $25.00 per share. After giving effect to the full exercise of the overallotment option, the total number of Preferred Shares sold by the Company in the Offering increased to 1,380,000. |
prnewswire.com |
2025-01-06 18:32:00 |
Czytaj oryginał (ang.) |
| PDPA: An 8.00% Term Preferred IPO From Pearl Diver Credit Company |
Pearl Diver Credit Company Inc. launched its first fixed-income security, PDPA, an 8.0% Series A Term Preferred Stock, maturing on 12/31/2029. PDPA offers an 8.00% cumulative annual dividend, trading at $24.88 with a Yield to Maturity of 8.12% and Yield to Call of 8.26%. Despite lacking a credit rating, PDPA's asset coverage covenants and underwriter credit spreads align with established CLO Equity sector companies. |
seekingalpha.com |
2025-01-05 06:49:12 |
Czytaj oryginał (ang.) |
| Pearl Diver Credit Company Inc. Declares Monthly Preferred Dividends |
NEW YORK and LONDON , Jan. 3, 2025 /PRNewswire/ -- Pearl Diver Credit Company Inc. (NYSE: PDCC, PDPA) (the "Company") today announced that its Board of Directors has declared monthly dividends on shares of the Company's 8.00% Series A Term Preferred Stock Due 2029 of $0.2389 per share for January 2025, and $0.1667 per share for February, March, and April 2025. Amount per Share Record Dates Payment Dates $0.2389 January 15, 2025 January 31, 2025 $0.1667 February 14, 2025 February 28, 2025 $0.1667 March 17, 2025 March 31, 2025 $0.1667 April 16, 2025 April 30, 2025 The distributions on the Series A Term Preferred Stock reflect an annual distribution rate of 8.00% of the $25 liquidation preference per share. |
prnewswire.com |
2025-01-03 18:32:00 |
Czytaj oryginał (ang.) |
| Preferreds Weekly Review: Market Doesn't Differentiate Between CLO Equity Senior Securities |
We take a look at the action in preferreds and baby bonds through the third week of December and highlight some of the key themes we are watching. All preferred stock sectors declined, mirroring Treasuries, with CMT-linked preferreds up 1.4%, SOFR preferreds flat, and fixed-rate preferreds down 2.8% in December. CLO Equity CEF PDCC issued a new 8% 2029 term preferred. |
seekingalpha.com |
2025-01-01 09:45:36 |
Czytaj oryginał (ang.) |
| Pearl Diver Credit Company Inc. Announces Closing of Offering of Series A Preferred Stock |
NEW YORK and LONDON , Dec. 19, 2024 /PRNewswire/ -- Pearl Diver Credit Company Inc. (NYSE: PDCC) (the "Company") today announced the closing of its previously announced public offering of 1,200,000 shares of its 8.00% Series A Preferred Stock Due 2029 (the "Preferred Shares") at a public offering price of $25.00 per share. The Company intends to use the proceeds from the offering to acquire investments in accordance with the investment objectives and strategies described in the prospectus relating to this offering and for general working capital purposes. |
prnewswire.com |
2024-12-19 10:05:00 |
Czytaj oryginał (ang.) |
| Pearl Diver Credit Company Inc. Prices Offering of Series A Preferred Stock |
NEW YORK and LONDON , Dec. 12, 2024 /PRNewswire/ -- Pearl Diver Credit Company Inc. (NYSE: PDCC) (the "Company") today announced that it has priced an underwritten public offering of 1,200,000 shares of its 8.00% Series A Preferred Stock Due 2029 (the "Preferred Shares") at a public offering price of $25 per share, which will result in net proceeds to the Company of approximately $28.8 million after payment of underwriting discounts and estimated offering expenses payable by the Company. The Preferred Shares are rated 'BBB' by Egan-Jones Ratings Company, an independent rating agency. |
prnewswire.com |
2024-12-12 19:32:00 |
Czytaj oryginał (ang.) |
| Pearl Diver Credit Company Inc. Announces Offering of Series A Preferred Stock |
NEW YORK and LONDON , Dec. 11, 2024 /PRNewswire/ -- Pearl Diver Credit Company Inc. (NYSE: PDCC) (the "Company") has commenced an underwritten public offering of its Series A Preferred Stock Due 2029. Certain financial and other terms of the Series A Preferred Stock are to be determined by negotiations between the Company and the underwriters. |
prnewswire.com |
2024-12-11 18:02:00 |
Czytaj oryginał (ang.) |
| PDCC: New 13%-Yielding CLO CEF Riding The Boom |
PDCC, a new CLO Equity CEF by Pearl Diver Capital, launched with a $136m market cap and plans to use leverage up to 25%. The fund offers a 13.2% NAV distribution rate, with net investment income covering 92% of the distribution, and charges a 1.5% management fee on its equity base. PDCC's leverage costs will be higher than peers, impacting net income generation. |
seekingalpha.com |
2024-11-07 12:01:16 |
Czytaj oryginał (ang.) |
| Pearl Diver Credit Company Inc. Declares Monthly Dividends |
NEW YORK and LONDON , Nov. 4, 2024 /PRNewswire/ -- Pearl Diver Credit Company Inc. (NYSE: PDCC) (the "Company") today announced that its Board of Directors has declared a regular monthly dividend on shares of the Fund's common stock of $0.22 per share for November and December 2024, and January 2025. Amount per Share Record Dates Payment Dates $0.22 November 15, 2024 November 29, 2024 December 17, 2024 December 31, 2024 January 17, 2025 January 31, 2025 Pearl Diver Credit Company Inc. has declared a dividend of $0.22/share for November and December 2024, and January 2025. |
prnewswire.com |
2024-11-04 18:32:00 |
Czytaj oryginał (ang.) |
| CEF Weekly Review: Invesco Has A Do-Over |
We review the CEF market valuation and performance through the fourth week of October and highlight recent market action. Most CEF sectors were down this week while discounts were mixed. Invesco's CMBS CEF IHTA is set for liquidation in December 2024, with NAV performance looking better than sister fund IHIT last year. |
seekingalpha.com |
2024-11-03 03:02:21 |
Czytaj oryginał (ang.) |
| Pearl Diver Credit Company Inc. Announces Third Quarter 2024 Financial Results |
NEW YORK and LONDON , Oct. 29, 2024 /PRNewswire/ -- Pearl Diver Credit Company Inc. (NYSE: PDCC) (the "Company") today announced financial results for the third quarter ended September 30, 2024. Third Quarter 2024 Results Net asset value per share of common stock $20.05 as of September 30, 2024. |
prnewswire.com |
2024-10-29 08:30:00 |
Czytaj oryginał (ang.) |
| PEARL DIVER CREDIT COMPANY INC. ANNOUNCES THIRD QUARTER 2024 EARNINGS CONFERENCE CALL |
NEW YORK and LONDON , Oct. 21, 2024 /PRNewswire/ -- Pearl Diver Credit Company Inc. (NYSE: PDCC) (the "Company") today announced that its third quarter 2024 financial results will be released before market open on Tuesday, October 29, 2024. The Company will host a conference call at 11:00 a.m. |
prnewswire.com |
2024-10-21 20:30:00 |
Czytaj oryginał (ang.) |
| Pearl Diver Credit Company Inc. Declares Monthly Dividends |
NEW YORK and LONDON , Aug. 5, 2024 /PRNewswire/ -- Pearl Diver Credit Company Inc. (NYSE: PDCC) (the "Company") today announced that its Board of Directors has declared a regular monthly dividend on shares of the Fund's common stock of $0.22 per share for August, September, and October 2024. Amount per Share Record Dates Payment Dates $0.22 August 16, 2024 August 30, 2024 September 16, 2024 September 30, 2024 October 16, 2024 October 30, 2024 The distribution will be automatically reinvested in additional shares of our common stock unless a stockholder opts out of the Dividend Reinvestment Plan ("DRIP") and elects to receive the distribution in cash. |
prnewswire.com |
2024-08-05 21:15:00 |
Czytaj oryginał (ang.) |
| Insider Buying in These 2 IPOs Is Huge, Plus Financial CEOs Pick Up Shares |
24/7 Wall St. Insights In the past week or so, initial public offerings at a biotech and an investment management firm attracted huge insider buying. |
247wallst.com |
2024-07-28 13:15:34 |
Czytaj oryginał (ang.) |
| Pearl Diver Credit Company Inc. Announces Closing of Initial Public Offering and Full Exercise of Overallotment Option |
NEW YORK and LONDON , July 19, 2024 /PRNewswire/ -- Pearl Diver Credit Company Inc. (NYSE: PDCC) (the "Company") today announced the closing of its previously announced initial public offering of 2.2 million shares of common stock at a public offering price of $20.00 per share and the full exercise of the overallotment option of 330,000 shares for total net proceeds to the Company of $50.6 million. Pearl Diver Capital LLP ("Pearl Diver Capital"), the Company's investment adviser, or its affiliates will pay the full amount of the sales load in connection with this initial public offering and all of the Company's organizational and offering expenses. |
prnewswire.com |
2024-07-19 22:00:00 |
Czytaj oryginał (ang.) |
| Pearl Diver Credit Company Inc. Announces Launch of Initial Public Offering |
Pearl Diver Capital LLP will serve as the investment adviser NEW YORK and LONDON, July 18, 2024 /PRNewswire/ -- Pearl Diver Credit Company Inc. (NYSE: PDCC) (the "Company") today announced the launch of its initial public offering. A closed-end, 40 Act fund, it will trade on the New York Stock Exchange under the ticker "PDCC" and use the proceeds from the capital raised to build diversified portfolios of senior secured U.S. corporate loans through investments in equity tranches of collateralized loan obligations (CLOs). |
prnewswire.com |
2024-07-18 12:30:00 |
Czytaj oryginał (ang.) |
| Pearl Diver Credit Company Inc. Announces Pricing of Its Upsized Initial Public Offering |
NEW YORK and LONDON , July 17, 2024 /PRNewswire/ -- Pearl Diver Credit Company Inc. (NYSE: PDCC) (the "Company") today announced the pricing of its upsized initial public offering of 2.2 million shares at $20 per share, which will result in net proceeds to the Company of approximately $44 million. In addition, the Company has granted the underwriters a 45-day option to purchase up to an additional 330,000 shares of common stock to cover over-allotments, if any. |
prnewswire.com |
2024-07-17 22:00:00 |
Czytaj oryginał (ang.) |