Crescent Capital BDC enters $300M revolving credit facility, terminates Ally Bank facility

Crescent Capital BDC, Inc.

New $300 million senior secured revolving credit facility with Sumitomo Mitsui Banking Corporation as admin agent and lender.
Borrowings bear interest at LIBOR + 1.875% (or Alternate Base Rate), replacing prior Ally facility at LIBOR + 2.35%.
Drew approximately $103 million to repay and terminate existing Ally Credit Agreement.
Proceeds may also be used to acquire portfolio investments and pay related expenses.
Facility includes customary covenants, representations, and default provisions.

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