Crescent Capital BDC, Inc. 5.00% Notes due 05/25/2026 (FCRX)
NYSE · · CUSIP 26943B407
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Security Details

Coupon Rate
5.00%
Liquidation Preference
$25.00
Call Price
$25.00
Call / Redemption Date
5/25/2023
Maturity Date
5/25/2026
Distribution Period
Q
Rate Type
Fixed
Annual Distribution
1.25
Distribution Dates
3/30, 6/30, 9/30 & 12/30
Credit Ratings
Moody's NF · S&P NF (3/19/2024)
Tax-Advantaged Dividends
No

Security Profile

Security Type
Exchange-Traded Debt Security »
CUSIP
26943B407
Market Cap
Micro Cap
IPO
6/18/2020 · $25/share
Previous Name
First Eagle Alternative Capital BDC
Parent Company
First Eagle Alternative Capital BDC, Inc. (CCAP)
Business: Crescent Capital BDC, Inc. formerly, First Eagle Alternative Capital BDC, Inc, 5.00% Notes due 2026, issued in $25 denominations, redeemable at the issuer's option on or after 05/25/2023 at $25 per note plus accrued and unpaid interest, and maturing 05/25/2026. <p> Interest distributions of 5.00% per annum ($1.25 per annum or $0.3125 per quarter) will be paid quarterly on 3/30, 6/30, 9/30 & 12/30 to holders of record on the record date that will be 3/1, 6/1, 9/1 & 12/1 respectively (NOTE: the ex-dividend date is one business day prior to the record date). <p> Distributions paid by these debt securities are interest and as such are NOT eligible for the preferential 15% to 20% tax rate on dividends and are also NOT eligible for the dividend received deduction for corporate holders.<p> Units are expected to trade flat, which means accrued interest will be reflected in the trading price and the purchasers will not pay and the sellers will not receive any accrued and unpaid interest. <p> This security was not rated by Moody’s or S&P at the time of its IPO. The Notes are unsecured and unsubordinated obligations of the company and will rank equally with all existing and future unsecured and unsubordinated indebtedness of the company. See the IPO prospectus for further information on the debt securities by clicking on the ‘Link to IPO Prospectus’ provided below.
Notes: January 31, 2020 -- Crescent Capital BDC, Inc. (the “Company”) completed its acquisition of Alcentra Capital Corporation, a Maryland corporation (“Alcentra Capital”) pursuant to the terms and conditions of that certain Agreement and Plan of Merger, dated as of August 12, 2019 (as amended on September 27, 2019, the “Merger Agreement”) with Alcentra Capital, Atlantis Acquisition Sub, Inc., a Maryland corporation and one of the Company’s wholly owned owned subsidiaries (the “Acquisition Sub”) and, solely for limited purposes, the Company’s investment adviser, Crescent Cap Advisors, LLC (f/k/a CBDC Advisors, LLC, “Crescent Cap Advisors”). To effect the acquisition, Acquisition Sub merged with and into Alcentra Capital, with Alcentra Capital surviving the merger as a wholly owned subsidiary of the Company (the “First Merger”). Immediately thereafter and as a single integrated transaction, Alcentra Capital merged with and into the Company, with the Company surviving the merger (the “Second Merger” and, together with the First Merger, the “Mergers”). The Company expects that its common stock, par value $0.001 per share, (the “Common Stock”) will begin publicly trading on the NASDAQ Global Market (“Nasdaq”) under the symbol “CCAP” on February 3, 2020. Pursuant to the Merger Agreement, Alcentra Capital stockholders received the right to the following merger consideration in exchange for each share of Alcentra Capital common stock outstanding immediately prior to the effective time of the First Merger, in accordance with the Merger Agreement: (a) $3.1784 per share in cash consideration (less the $0.80 final dividend declared by Alcentra Capital) and (b) stock consideration at the fixed exchange ratio of 0.4041 shares of Common Stock.

Company Contact

CEO
Jason A. Breaux
CFO
Gerhard Lombard
Headquarters
111000 Santa Monica Blvd., Suite 2000, Los Angeles, CA 900025
Phone
310-235-5900
Investor Relations
Daniel McMahon · 212-364-0149 · daniel.mcmahon@crescentcap.com
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