Company: FCRX
Filing Date: 2025-07-14
Form Type: N-2/A
Source: 0001193125-25-158263
Chunk: 8

Company: Crescent Capital BDC, Inc.
Filing Date: 2025-07-14
Form: N-2/A
Chunk 8
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 indirect wholly owned subsidiaries (a “Subsidiary”) to facilitate the normal course of business if the Advisor determines that for legal, tax, regulatory, accounting or other similar reasons it is in our best interest to do so. We have formed a wholly owned subsidiary that is structured as a tax blocker, to hold equity or equity-like investments in a portfolio company organized as a limited liability company. These corporate subsidiaries are not consolidated for income tax purposes and may incur income tax expense as a result of their ownership of portfolio companies. Such Subsidiaries will not be registered under the 1940 Act; however, the Company will wholly own and control any Subsidiaries. The Board has oversight responsibility for the investment activities of the Company, including its investment in any Subsidiary, and the Company’s role as sole direct or indirect shareholder of any Subsidiary. We comply with the provisions of the 1940 Act governing investment policies on an aggregate basis with our Subsidiaries and the provisions governing capital structure and leverage on an aggregate basis with any Subsidiaries, and we treat our Subsidiaries’ debt as our own for purposes of Section 18 of the 1940 Act. Our Advisor acts as investment adviser to our Subsidiaries and complies with the provisions of the 1940 Act on investment advisory contracts. Each of our Subsidiaries also complies with the 1940 Act provisions related to affiliated transactions and custody, and our Custodian is the custodian for each of our Subsidiaries. The Company does not intend to create or acquire primary control of any company that primarily engages in investment activities in securities or other assets, other than entities wholly-owned by the Company. We may borrow money from time to time within the levels permitted by the 1940 Act (up to 150% of asset coverage requirement). In determining whether to borrow money, we analyze the maturity, covenant package and rate structure of the proposed borrowings as well as the risks of such borrowings compared to our investment outlook. The use of borrowed funds or the proceeds of preferred stock offerings to make investments would have its own specific set of benefits and risks, and all of the costs of borrowing funds or issuing preferred stock would be borne by holders of our common stock. See “Part I. Item 1A. Risk Factors—Risks Relating to Our Business and Structure-Ourstrategy involves a high degree of leverage. We intend to continue to finance our investments with borrowed money, which will magn