I'm am not a financial advisor and this is my opinion and I will openly tell you I have lost money at times.  Lots of it sometimes.

In the bdc space one of my favorite places to look for speculation is in the bonds of bdc's that don't appear to be doing well.  According to my sources there has never been a bdc that has gone bankrupt although the shareholders haven't always done so well.

It appears that in the medley capital corp merger that there is a fight about what would make the shareholders the most money.  In the middle of this fight the bonds mdlx have fallen to just above 50 cents on the dollar.  According to my reasearch no one is claiming that they are going bankrupt and I could only find one article where they filed suit against someone they had loaned money to.  I assume that means they know they have civel liability if they mis-manage things.

Since the fight is about selling to the highest bidder I don't see any reason not to take a speculative position in mdlx with the understanding that they could be the first bdc to have gone under thereby making history.