Crescent Capital BDC announced significant financing activities, including an amendment to its credit facility with Wells Fargo that increases its size by $100 million to $500 million and extends its maturity. Concurrently, the company issued $50 million in new senior unsecured notes and repaid $111.6 million of existing notes, optimizing its capital structure.
Key Details
- Credit Facility Amendment: On May 21, 2026, a subsidiary amended its loan and security agreement with Wells Fargo, increasing the facility size from $400 million to $500 million.
- Extended Timeline: The facility's reinvestment period was extended to May 21, 2029, and the final maturity date was extended to May 21, 2031.
- Pricing & Fee Changes: The interest rate spread on the facility increased from 1.95% to 2.00%, while the non-usage fee was reduced from 0.50% to 0.35%.
- Note Activity: On May 22, 2026, the company issued $50.0 million of 5.97% senior unsecured notes due 2029 and fully repaid $111.6 million of its 5.00% unsecured notes.