UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM
CURRENT REPORT
Pursuant to section 13 or 15(d)
of the Securities Exchange Act of 1934
Date of Report (Date of Earliest Event Reported): June 4, 2024 (
(Exact name of registrant as specified in its charter)
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Item 1.01. Entry Into A Material Definitive Agreement.
On May 31, 2024, Crescent Capital BDC, Inc., a Maryland corporation (“CCAP”), and Crescent Capital BDC Funding, LLC (“CCAP SPV”), a wholly-owned subsidiary of CCAP, entered into the Seventh Amendment to Loan and Security Agreement (the “Amendment”), by and among CCAP, as the collateral manager, seller and equity holder, CCAP SPV, as the borrower, and Wells Fargo Bank, National Association, as administrative agent, collateral agent, and lender, which amends the Loan and Security Agreement, dated as of March 28, 2016 (as amended, amended and restated, supplemented, waived or otherwise modified from time to time prior to the date of the Amendment, the “Existing Loan and Security Agreement”; as amended by the Amendment, the “Loan and Security Agreement”), by and among CCAP, as the collateral manager, seller and equity holder, CCAP SPV, as the borrower, and Wells Fargo Bank, National Association, as administrative agent, collateral agent, and lender.
The amendment, among other things, (a) extended the last day of the reinvestment period to May 31, 2027, and the stated maturity date to May 31, 2029, (b) reduced the spread from 2.75% to 2.45%, and (c) added the ability for advances under the Loan and Security Agreement to be made in British Pounds (“GBP”), Euros and Canadian Dollars (“CAD”). As amended by the Amendment, commitments under the Loan and Security Agreement may be reduced or terminated by the Borrower at any time, provided that any reduction or termination of the commitments prior to the one-year anniversary of the closing date of the Amendment are subject to a commitment reduction fee of 1.00% multiplied by the amount of such reduction or termination.
The description above is only a summary of the material provisions of the Amendment and is qualified in its entirety by reference to a copy of the Amendment, which is filed as Exhibit 10.1 to this current report on Form 8-K. Borrowings under the Loan and Security Agreement remains subject to leverage restrictions contained in the Investment Company Act of 1940, as amended (the “1940 Act”).
Item 9.01. Financial Statements and Exhibits
(d) Exhibits
| Exhibit No. |
Description | |
| 10.1 | Seventh Amendment to Loan and Security Agreement, dated May 31, 2024, by and among CCAP, as the collateral manager, seller and equity holder, CCAP SPV, as the borrower, and Wells Fargo Bank, National Association, as administrative agent, collateral agent, and lender (filed herewith). | |
| 104 | Cover Page Interactive Data File (embedded within the Inline SBRL document). | |
SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, as amended, the Registrant has duly caused this Current Report on Form 8-K to be signed on its behalf by the undersigned hereunto duly authorized.
| CRESCENT CAPITAL BDC, INC. | ||||||
| Date: June 4, 2024 | By: | /s/ Gerhard Lombard | ||||
| Name: | Gerhard Lombard | |||||
| Title: | Chief Financial Officer | |||||