Corporate Capital Trust funds private company debt via stock proceeds

By Toni Weeks

San Luis Obispo, Calif., July 31 – Corporate Capital Trust, Inc. plans to sell common shares, according to a 497 filing with the Securities and Exchange Commission.

The externally managed, non-diversified closed-end management investment company seeks to provide current income and, to a lesser extent, long-term capital appreciation by investing primarily in the debt of privately owned U.S. companies. A substantial portion of the company's portfolio will consist of senior and subordinated debt. Debt investments may take the form of corporate loans or bonds, may be secured or unsecured and may be accompanied by warrants, options or other forms of equity participation.

The company is offering 209 million common shares at a current offering price of $11.30 per share on a continuous, best-efforts basis.

The sales load will be 10%. Total annual expenses of 7.03% include a base management fee of 3.26%.

Orlando, Fla.-based CNL Fund Advisors Co and New York-based KKR Asset Management LC together act as the investment manager.

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