Crescent Capital ups revolving credit facility size to $350 million

Chicago, March 7 – Crescent Capital BDC, Inc. subsidiary Crescent Capital BDC Funding, LLC amended its senior secured revolving credit facility to increase the size to $350 million from $300 million, according to an 8-K filed with the Securities and Exchange Commission.

Sumitomo Mitsui Banking Corp. is the administrative agent, collateral agent, lead arranger and bookrunner.

The amendment was signed on Friday.

Borrowings bear interest of SOFR plus 187.5 basis points to 200 bps, with the margin determined by the ratio of the borrowing base to the combined debt amount.

The two pricing tiers are split between either less than or more than 1.85 times the combined debt amount.

The commitment fee is 37.5 bps.

Proceeds will be used for general corporate purposes.

Crescent Capital is an alternative management firm based in Los Angeles.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.