Morgan Stanley Direct Lending Fund

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Morgan Stanley Direct Lending Fund is a business development and finance company, which engages in lending to middle-market companies. It invests in directly originated senior secured term loans including first lien senior secured term loans and second lien senior secured term loans. The company was founded on May 30, 2019 and is headquartered in New York, NY.

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I Am Loading Up On These 2 High-Flying High-Yield Sectors For 2025

NEW YORK--(BUSINESS WIRE)-- #KBRA--KBRA assigns issuer and senior unsecured debt ratings of BBB to Morgan Stanley Direct Lending Fund (NYSE: MSDL or "the company"). The rating Outlook is Stable. Key Credit Considerations The ratings and Outlook are supported by Morgan Stanley Direct Lending Fund's strong ties to the ~$1.5 trillion assets under management and/or supervision from Morgan Stanley Asset Management. The company benefits from investment banking, global capital markets, investment management,.

KBRA Assigns Ratings to Morgan Stanley Direct Lending Fund

My first bullish piece on MSDL was issued back in April 2024. It was also the second article covering MSDL on Seeking Alpha. Since the publication of my thesis, MSDL has gradually become a 'household name' among BDC investors. The good news is that looking at the current financials, the case for durable, close to double digit yield, remains intact.

Morgan Stanley Direct Lending: High Quality At 9.4% Yield, Does Not Get Better Than This

Morgan Stanley Direct Lending Fund is a highly defensive BDC focusing on first-lien debt in non-cyclical sectors, ensuring stable cash flows and low technological risks. The current regular DPS coverage is attractive at ~119%, but further Fed rate cuts could impact dividend coverage due to MSDL's floating-rate debt investments. MSDL's valuation is appealing, with the potential to reestablish the premium, ensuring capital gathering effectiveness.

Morgan Stanley Direct Lending Is Too Good To Miss Out On; Highly Defensive

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Invest In $95,000 BDC Portfolio For $10,000 Annual Income And Durable Compounding

Morgan Stanley Direct Lending Fund offers a 10% dividend yield, strong brand backing, and growth potential, making it an appealing choice for income investors. The fund's low-risk portfolio, with 96% in senior secured debt, and diversified borrower base reduce overall investment risk. Despite interest rate declines, MSDL's portfolio growth and low leverage levels have maintained stable net investment income per share.

Morgan Stanley Direct Lending: A Low-Risk 10% Yield

Usually, high yields come with high chances of falling into a value trap. It is very difficult to find truly protected yields. It is even more difficult to combine yield protection with income growth.

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Morgan Stanley Direct Lending (MSDL) offers a strong dividend yield of 7.4%, fully covered by net investment income, ensuring reliable income generation for investors. The portfolio is diversified across 200 companies with a focus on floating rate, senior secured first lien investments, minimizing risk. MSDL's non-accrual rate is impressively low at 0.2%, indicating strong borrower resilience and effective management.

Morgan Stanley Direct Lending: Rapidly Expanding Portfolio Supports High Yield

Morgan Stanley Direct Lending Fund (NYSE:MSDL ) Q3 2024 Earnings Conference Call November 8, 2024 10:00 AM ET Company Participants Michael Occi - Head, Investor Relations and CAO Jeff Levin - President and CEO David Pessah - Chief Financial Officer Rebecca Shaoul - Head, Portfolio Management Conference Call Participants Sean-Paul Adams - Raymond James Melissa Wedel - JP Morgan Paul Johnson - KBW Kenneth Lee - RBC Capital Markets Operator Please stand by. Welcome to the Morgan Stanley Direct Lending Fund's Third Quarter 2024 Earnings Call.

Morgan Stanley Direct Lending Fund (MSDL) Q3 2024 Earnings Call Transcript

NEW YORK--(BUSINESS WIRE)--Morgan Stanley Direct Lending Fund (NYSE: MSDL) (“MSDL” or the “Company”), a business development company externally managed by MS Capital Partners Adviser Inc. (the “Adviser”), today announced its financial results for the third quarter ended September 30, 2024. QUARTERLY HIGHLIGHTS Net investment income of $58.7 million, or $0.66 per share, as compared to $56.1 million, or $0.63 per share, for the quarter ended June 30, 2024; Net asset value of $20.83 per share, fla.

Morgan Stanley Direct Lending Fund Announces September 30, 2024 Financial Results and Declares Fourth Quarter 2024 Regular Dividend of $0.50 per Share

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Morgan Stanley Direct Lending offers a 10% dividend yield, supported by a diversified portfolio of first lien senior secured loans in non-cyclical industries. MSDL's favorable cost structure, conservative leverage, and strong balance sheet position it to benefit from growing private credit demand. Trading at a 5% discount to NAV, MSDL provides strong dividend coverage and increasing NAV per share, making it appealing for income-focused investors.

Morgan Stanley Direct Lending: 10% Yield, 126% Dividend Coverage And Discount To Book

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We take a look at the action in business development companies through the third week of October and highlight some of the key themes we are watching. BDCs had a strong week, rising over 1%, supported by reduced expectations of rate cuts. The rise in Payment-in-Kind (PIK) income, now at 7.5%, raises concerns about potential credit issues, though not all PIK is distress-related.

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NEW YORK--(BUSINESS WIRE)--Morgan Stanley Direct Lending Fund (NYSE: MSDL) ("MSDL”), a business development company externally managed by MS Capital Partners Adviser Inc., today announced it will release its financial results for the third quarter ended September 30, 2024, on Thursday, November 7, 2024, after the market closes. MSDL will host a conference call at 10:00 am ET on Friday, November 8, 2024, to review its financial results and conduct a question-and-answer session. Conference Call I.

Morgan Stanley Direct Lending Fund Announces Third Quarter 2024 Earnings Release and Conference Call

Publicly traded business development companies (BDCs) are growing in popularity for their astounding dividend income. Like real estate investment trusts (REITs), BDCs must distribute 90% of their taxable income to shareholders as dividends.

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Morgan Stanley Direct Lending Fund shows strong fundamentals and growth, with solid dividend coverage and a healthy portfolio, despite its short track record. MSDL's investment-grade credit ratings and manageable debt positions them well for future growth, but high exposure to floating rate loans poses risks. Trading at a slight discount to NAV, MSDL offers a compelling buy opportunity for income-oriented investors, though upside is limited due to potential rate declines.

Morgan Stanley Direct Lending: Likely To Become A Major Player Amongst Its Peers

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April this year, I wrote a bullish piece on MSDL. Since then the total return performance has landed at negative 5%. This is mostly explained by the end of the post-IPO lock-up period, not underlying fundamentals. Looking at Q2, 2024 earnings, we will see a continued stability with many data points being clearly better than for most of other BDCs.

Morgan Stanley Direct Lending Fund: Solid Yield Enhancer At Limited Risk

The Federal Reserve's 50 basis point rate cut impacts BDCs, which are sensitive to short-term rate changes, affecting their net investment income. BDCs thrive during rate hikes but face challenges with rate cuts, potentially leading to declining net investment income and increased non-accruals. I take a look at 10 leading BDCs and share my pick for the best one to own in the current environment.

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News for Morgan Stanley Direct Lending Fund Stock (MSDL)