Crescent Capital BDC, Inc. Announces Private Placement of $135 Million 4.00% Senior Unsecured Notes Due 2026
February 17, 2021 at 04:05 pm EST
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Crescent Capital BDC, Inc. announced that it has agreed to issue $135 million in aggregate principal amount of 4.00% senior unsecured notes due 2026 by entering into a first supplement to its Note Purchase Agreement dated July 30, 2020. The Notes will be issued in two closings. The initial issuance of $50 million of Notes closed on February 17, 2021, and the issuance of the remaining $85 million of Notes is expected to occur on or before May 17, 2021, subject to customary closing conditions. The Company also announced that on February 15, 2021, it repaid $5.4 million of its outstanding InterNotes® at par, and has informed the trustee for the InterNotes® that it expects to redeem all of the remaining outstanding InterNotes® on or shortly after March 19, 2021. The Notes will mature on February 17, 2026 and may be redeemed in whole or in part, at Crescent BDC’s option, at any time or from time to time at par plus a “make-whole” premium, if applicable. The Company intends to use the proceeds of the offering to repay outstanding debt and for general corporate purposes. Except as set forth in the Supplement, the Notes have the same terms as the unsecured notes that the Company previously issued pursuant to the Note Purchase Agreement and the supplements thereto, respectively.
Crescent Capital BDC, Inc. is a specialty finance company focused on lending to middle-market companies. The Companyâs investment objective is to maximize the total return to its stockholders in the form of current income and capital appreciation through debt and related equity investments. It invests primarily in secured debt, including first lien, unitranche first lien and second-lien debt, and unsecured debt, including mezzanine and subordinated debt, as well as related equity securities of private United States middle-market companies. It is focused on purchasing interests in loans or make debt investments, either directly from its target companies as primary market or private credit investments (private credit transactions), or primary or secondary market bank loan or high yield transactions in the syndicated market (syndicated loans and bonds). Although its focus is to invest in less liquid private credit transactions. The Company is managed by Crescent Cap Advisors, LLC.
CRESCENT CAPITAL BDC, INC. 
