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Private Credit: BDC Loans Marked Below 80 Cents

Share of BDC debt at cost that the lender values below eighty cents on the dollar, %

4.14% in Q2 2026the highest in data back to 2023+1.28 pp since Q1 2023
YTD1y2y5y10y20yAll
Forecast availableOffContinuationForesight™
Show · 2 ▾
U.S. recessionsShades the months the NBER dates as recession. U.S. charts only.5-year rangeThe highest and lowest readings of the last five years, as a band. One-series charts only.High and lowMarks the highest and lowest readings in the window shown.
Current·Data to Q2 2026

Plays the chart through its history. Pauses are where the data set a record or moved most.

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. Marks are each lender's own fair values.

A stressed-loan count that does not wait for a lender to stop accruing interest. A loan bought at a discount can also sit below 80.

What this chart reads

Sources

BDC loans marked below 80% of cost. 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.

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