Crescent Capital unit obtains $75 million revolver from Wells Fargo

By Wendy Van Sickle

Columbus, Ohio, March 31 – Crescent Capital BDC, Inc. wholly owned subsidiary Crescent Capital BDC Funding, LLC entered into a $75 million revolving credit agreement on Monday with Wells Fargo Bank, NA, as administrative agent, collateral agent and lender, according to an 8-K filing with the Securities and Exchange Commission.

The commitment may be increased with lender consent or reduced with the company’s consent.

Proceeds are to be used to acquire eligible loans, to make distributions in accordance with the credit agreement or to pay related expenses.

The revolver matures on March 28, 2021.

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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