Bars over time
Private Credit: BDC Lending to New Borrowers
Debt at cost to borrowers a BDC did not lend to the quarter before, US$
Plays the chart through its history. Pauses are where the data set a record or moved most.
Continuation · the recent trend, flattening · 1 year
Faint bars: the projected periods. Whiskers: the range about two in three outcomes land in. A projection, not a promise.
Palanor calculation from SEC schedules of investments filed by business development companies (SEC BDC data sets and EDGAR XBRL; public domain). The panel is every BDC whose tagged holdings add up to its reported total; it grows as new funds file. Debt only: loans and bonds at cost. An origination proxy: a borrower counts as new to a BDC when it was not on that BDC's schedule the quarter before. Add-ons to existing borrowers are not counted.
How much BDCs lent to companies that were not already on their books: a proxy for new private-credit deals. It grows with the panel as new funds launch.
What this chart reads
- BDC lending to new borrowers in the quarteras “New-borrower lending”latest 2026-06-30
Sources
BDC lending to new borrowers in the quarter. Source: Palanor calculation from SEC filings: the SEC Business Development Company (BDC) data sets and each filing's XBRL on EDGAR (U.S. Securities and Exchange Commission; public domain).
Charts are drawn from Palanor's signal library and recomputed from source data on every view. Transformations (changes, indexing, year-on-year rates) are Palanor's.