trending Market Intelligence /marketintelligence/en/news-insights/trending/Evze5RqzB3hPu8MNu8sDAw2 content esgSubNav
In This List

Crescent Capital BDC unit enters revolving credit agreement

Blog

Banking Essentials Newsletter: January 11th Edition

Blog

Banking Essentials Newsletter December 21st Edition

Blog

The Road to Basel IV: Navigating the challenge facing European banks

Blog

Basel Framework- Utilizing data to analyze the capital position of European banks.


Crescent Capital BDC unit enters revolving credit agreement

Crescent CapitalBDC Inc.'s wholly owned subsidiary, Crescent Capital BDC Funding LLC,on March 28 entered into a revolving credit agreement with a maximum commitmentamount of $75 million.

The agreement was entered into with Crescent Capital BDC as thecollateral manager, seller and equity holder; Crescent Capital BDC Funding as theborrower; certain banks and other financial institutions as lenders; and Wells FargoBank NA as administrative agent, collateral agent and lender.

The commitment may be increased with the consent of Wells FargoBank or reduced at the company's request, according to a Form 8-K filed March 31.The revolving credit agreement is effective as of March 28.

Proceeds of the advances under the agreement may be used to acquireportfolio investments, to make distributions to the company in accordance with therevolving credit agreement, and to pay related expenses.

The maturity date is the earlier of the date Crescent CapitalBDC Funding voluntarily reduces the commitments to zero, March 28, 2021, and thedate upon which Wells Fargo declares the obligations due and payable after the occurrenceof an event of default.