Crescent Capital BDC may use revolver to invest in middle-market debt

By Angela McDaniels

Tacoma, Wash., July 2 – Crescent Capital BDC, Inc. entered into a $75 million revolving credit facility and may use the proceeds to invest in debt issued by middle-market companies, according to an 8-K filing with the Securities and Exchange Commission.

The maturity date is June 29, 2016.

The revolver has a $75 million accordion feature.

The interest rate is Libor plus 145 basis points.

Natixis, New York Branch is the administrative agent, lead arranger, managing agent and committed lender.

Revolver borrowings will be used for general corporate purposes such as the funding of portfolio investments.

Crescent is a Los Angeles-based business development company with a focus on originating and investing primarily in secured debt, unsecured debt and related equity securities of private U.S. middle-market companies.

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