Company: FCRX
Filing Date: 2025-02-19
Form Type: 10-K
Source: 0000950170-25-023153
Chunk: 149

Company: Crescent Capital BDC, Inc.
Filing Date: 2025-02-19
Form: 10-K
Item: Item 1
Chunk 149
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 18, 2030 unless redeemed, purchased or prepaid prior to such date by the Company or its affiliates in accordance with their terms. Interest on both unsecured notes will be payable semiannually, on the 18th day of February and August in each year, commencing with August 18, 2025. The interest rates are subject to an increase of up to 1.00% upon the occurrence of certain trigger events set forth in the purchase agreement governing the issuance and sale of the Series 2024A Notes. The issuance of the Series 2024A Notes occurred on February 18, 2025.

The summary of costs incurred in connection with the SPV Asset Facility, SMBC Corporate Revolving Facility, Series 2020A Unsecured Notes, Series 2021A Unsecured Notes, Series 2023A Unsecured Notes and FCRX Unsecured Notes is presented below:  

    ($ in millions)
     
    For the years ended December 31,

    2024

    2023

    Borrowing interest expense
     
    $
    58.9

    $
    54.8

    Unused facility fees

    1.5

    1.8

    Amortization of financing costs

    2.4

    2.1

    Total interest and credit facility expenses
     
    $
    62.8

    $
    58.7

    Weighted average outstanding balance
     
    $
    881.1

    $
    837.0

To the extent we determine that additional capital would allow us to take advantage of additional investment opportunities, if the market for debt financing presents attractively priced opportunities, or if our Board otherwise determines that leveraging our portfolio would be in our best interest and the best interests of our stockholders, we may enter into new debt financing opportunities in addition to our existing debt. The pricing and other terms of any such opportunities would depend upon market conditions and the performance of our business, among other factors. 

In accordance with applicable SEC staff guidance and interpretations, effective May 5, 2020 with stockholder approval, we, as a BDC, are permitted to borrow amounts such that our asset coverage ratio is at least 150% after such borrowing (if certain requirements are met), rather than 200%, as previously required. Short-term credits necessary for the settlement of securities transactions and arrangements with respect to securities lending will not be considered borrow