Crescent Capital BDC Enters into Note Purchase Agreement for Series 2024A Additional Purchasers

Crescent Capital BDC, Inc. (NASDAQ:CCAP) recently announced its entry into a third supplement to its Note Purchase Agreement on December 20, 2024. This agreement involves the issuance of up to $35.0 million in aggregate principal amount of senior unsecured notes due February 18, 2028 (2028 Notes) and $80.0 million in aggregate principal amount of senior unsecured notes due February 18, 2030 (2030 Notes), collectively referred to as the Series 2024A Notes.

The Third Supplement, involving the Company and qualified institutional investors, supplements the existing Note Purchase Agreement dated July 30, 2020. The 2028 Notes have a fixed interest rate of 6.77% and the 2030 Notes have a fixed interest rate of 6.90%. Interest on these notes will be payable semiannually starting August 18, 2025.

The proceeds from the issuance will primarily go towards repaying certain debts, potentially including those outstanding under its debt facilities, and for general corporate endeavors. Crescent Capital BDC, Inc. also retains the option to reborrow under its debt facilities for various purposes, including investments in portfolio companies in alignment with its investment objectives.

The newly issued Series 2024A Notes, treated as general unsecured obligations, rank pari passu with existing unsecured unsubordinated debts of the Company. The Note Purchase Agreement carries standard terms and conditions for senior unsecured notes issued in a private placement, including customary affirmative and negative covenants.

These Series 2024A Notes have been offered in compliance with Section 4(a)(2) of the Securities Act of 1933 and have not been registered under the Securities Act or any state securities laws. The Company has clarified that the information in the current report does not indicate an offer to sell or a solicitation to purchase the Notes or any other securities. It should not be construed as an offer in any jurisdiction where it may be deemed unlawful.

For a detailed account, including the material provisions, one can refer to the copy of the Third Supplement and the Master Note Purchase Agreement filed with the Securities and Exchange Commission on respective dates.

This transaction signifies a strategic move by Crescent Capital BDC, Inc. with potential implications for its financial structure and growth trajectory.

This article was generated by an automated content engine and was reviewed by a human editor prior to publication. For additional information, read Crescent Capital BDC’s 8K filing here.

About Crescent Capital BDC

Crescent Capital BDC, Inc is as a business development company private equity / buyouts and loan fund. It specializes in directly investing. It specializes in middle market. The fund seeks to invest in United States.