On December 3, 2024, Crescent Capital BDC, Inc. (the “Company”) and certain subsidiaries of the Company entered into an Amended and Restated Senior Secured Revolving Credit Agreement (the “Revolving Credit Agreement”) with Sumitomo Mitsui Banking Corporation as Administrative Agent (“Agent”), Collateral Agent, Lead Arranger, Sole Bookrunner and a lender, and certain other lenders named therein.
The Revolving Credit Agreement amended and restated an existing Senior Secured Revolving Credit Agreement with Agent and, among other things, (i) decreased the size of the aggregate revolving commitment from up to $350,000,000.00 to up to $285,000,000.00, (ii) added an initial term commitment in an amount not to exceed $25,000,000.00 for an aggregate facility size of $310,000,000.00, (iii) increased the interest rate by 0.125% so that borrowings under the revolving commitment will bear interest at the applicable benchmark rate plus (A) 1.125% per annum for ABR Loans and 2.125% per annum for Term Benchmark Loans and RFR Loans if the Borrowing Base is less than 1.60 times the Combined Debt Amount and (B) 1.000% per annum for ABR Loans and 2.000% for Term Benchmark Loans and RFR Loans if the Borrowing Base is equal to or greater than 1.60 times the Combined Debt Amount, in each case, on outstanding amounts, or as otherwise determined by the Revolving Credit Agreement, (iii) extended the facility termination date from October 27, 2026 to December 3, 2029, unless otherwise terminated earlier under the Revolving Credit Agreement, and (iv) extended the facility revolving commitment period termination date from October 27, 2025, to December 1, 2028, unless otherwise terminated earlier under the Revolving Credit Agreement. As of 2024-12-09, the Fund’s leverage was 52.6% and Debt Focused BDC Group leverage was 50.3%.