8-K 1 cbdc-8k_20190820.htm 8-K cbdc-8k_20190820.htm

 

 

 

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, DC 20549

 

FORM 8-K

 

CURRENT REPORT

Pursuant to Section 13 or 15(d)

of the Securities Exchange Act of 1934

Date of report (Date of earliest event reported): August 20, 2019

 

CRESCENT CAPITAL BDC, INC.

(Exact name of Registrant as Specified in Its Charter)

 

 

 

 

 

DELAWARE

814-01132

47-3162282

(State or Other Jurisdiction

of Incorporation)

(Commission

File Number)

(IRS Employer

Identification No.)

 

 

 

11100 SANTA MONICA BLVD., SUITE 2000, LOS ANGELES, CA

90025

(Address of Principal Executive Offices)

(Zip Code)

Registrant’s telephone number, including area code: (310) 235-5050

 

(Former Name or Former Address, if Changed Since Last Report)

 

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):

Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Indicate by check mark whether the registrant is an emerging growth company as defined in as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

Emerging growth company  

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.  

Securities registered pursuant to Section 12(b) of the Act:

 

Title of each class

 

Trading

Symbol(s)

 

Name of each exchange on which registered

N/A

 

N/A

 

N/A

 

 

 


 

Item 1.01. Entry into a Material Definitive Agreement.

 

On August 20, 2019 Crescent Capital BDC, Inc. (the “Company”), entered into a loan and security agreement (the “Revolving Credit Agreement”) by and among the Company as the Borrower, the lenders party thereto from time to time

and Ally Bank, as administrative agent, arranger and lender (“Ally Bank”). The Revolving Credit Agreement is effective as of August 20, 2019.

 

The maximum commitment amount under the Revolving Credit Agreement is $200,000,000. Proceeds of the advances under the Revolving Credit Agreement may be used to acquire portfolio investments, to make distributions to the Company in accordance with the Revolving Credit Agreement and to pay related expenses.

 

The maturity date is the earlier of: (a) the date the Borrower voluntarily reduces the commitments to zero, (b) the Termination Date (August 20, 2024) and (c) the date upon which Ally Bank declares the obligations due and payable after the occurrence of an Event of Default.

 

The Revolving Credit Agreement includes customary covenants, including certain limitations on the incurrence of additional indebtedness and liens, as well as usual and customary events of default for revolving credit facilities of this nature.

 

The description above is only a summary of the material provisions of the Revolving Credit Agreement and is qualified in its entirety by reference to a copy of the Revolving Credit Agreement, which is filed as Exhibit 10.1 to this Current Report on Form 8-K.

 

Item 2.03. Creation of Direct Financial Obligation.

 

The information included under Item 1.01 in this Current Report on Form 8-K is incorporated by reference into this Item 2.03.

 

Item 9.01. Financial Statements and Exhibits.

 

 

 


 

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

 

 

 

 

 

 

 

CRESCENT CAPITAL BDC, INC.

 

 

 

 

Date: September 5, 2019

 

By:

/s/ Mike L. Wilhelms

 

 

Name:

Mike L. Wilhelms

 

 

Title:

Chief Financial Officer