# EDGAR Filing Document

**Accession Number:** 0001633336
**File Stem:** 0001193125-23-070671
**Filing Date:** 2023-3
**Character Count:** 12938
**Document Hash:** f0afab0783fbea761d9a4f39efc34ff0
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001193125-23-070671.hdr.sgml**: 20230315

**ACCESSION NUMBER**: 0001193125-23-070671

**CONFORMED SUBMISSION TYPE**: 8-K

**PUBLIC DOCUMENT COUNT**: 15

**CONFORMED PERIOD OF REPORT**: 20230315

**ITEM INFORMATION**: Regulation FD Disclosure

**ITEM INFORMATION**: Financial Statements and Exhibits

**FILED AS OF DATE**: 20230315

**DATE AS OF CHANGE**: 20230315

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** Crescent Capital BDC, Inc.
- **CENTRAL INDEX KEY:** 0001633336
- **IRS NUMBER:** 473162282
- **STATE OF INCORPORATION:** MD
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** 8-K
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 814-01132
- **FILM NUMBER:** 23733292

**BUSINESS ADDRESS:**
- **STREET 1:** 11100 SANTA MONICA BLVD.
- **STREET 2:** SUITE 2000
- **CITY:** LOS ANGELES
- **STATE:** CA
- **ZIP:** 90025
- **BUSINESS PHONE:** 310-235-5971

**MAIL ADDRESS:**
- **STREET 1:** 11100 SANTA MONICA BLVD.
- **STREET 2:** SUITE 2000
- **CITY:** LOS ANGELES
- **STATE:** CA
- **ZIP:** 90025

?xml version="1.0" encoding="utf-8" ? 8-K

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## UNITED STATES

## SECURITIES AND EXCHANGE COMMISSION

#### Washington, D.C. 20549

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### FORM 8-K

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#### CURRENT REPORT

#### Pursuant to section 13 or 15(d)

#### of the Securities Exchange Act of 1934

#### Date of Report (Date of Earliest Event Reported): March 15, 2023

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## Crescent Capital BDC, Inc.

#### (Exact name of registrant as specified in its charter)

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| | | |
|:---|:---|:---|
| **Maryland** | **814-01132** | **47-3162282** |
| **(State or Other Jurisdiction<br>of Incorporation or Organization)** | **(Commission**<br> **File Number)** | **(I.R.S. Employer**<br> **Identification No.)** |

---

---

| | |
|:---|:---|
| **11100 Santa Monica Blvd., Suite 2000,** |  |
| **Los Angeles, CA** | **90025** |
| **(Address of Principal Executive Offices)** | **(Zip Code)** |

---

#### Registrant's Telephone Number, Including Area Code: (310) 235-5900

#### Not Applicable

#### (Former name or former address, if changed since last report)

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Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

☐ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) Securities registered pursuant to 12(b) of the Act:

Securities registered pursuant to Section 12(g) of the Act:

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| | | |
|:---|:---|:---|
| **Title of each class** | **Trading<br>Symbol** | **Name of each exchange**<br> **on which registered** |
| Common Stock, $0.001 parvalue per share | CCAP | The Nasdaq Stock Market LLC |
| 5.00% Notes due 2026 | FCRX | The New York Stock Exchange |

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#### Common Stock, par value $0.001 per share

#### (Title of class)
Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

Emerging growth company ☒

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

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| | |
|:---|:---|
| **Item 7.01.** | **Regulation FD Disclosure.**  |

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On March 15, 2023, the Registrant issued a press release providing a business update. The text of the press release is included as Exhibit 99.1 to this Form 8-K.

The information disclosed under this Item 7.01, including Exhibit 99.1 attached hereto, is being furnished and shall not be deemed to be "filed" for purposes of Section 18 of the Securities Exchange Act of 1934 and shall not be deemed incorporated by reference into any filing made under the Securities Act of 1933, except as expressly set forth by specific reference in such filing.

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| | |
|:---|:---|
| **Item 9.01.** | **Financial Statements and Exhibits.**  |

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(d) Exhibits.

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| | |
|:---|:---|
| **Exhibit<br>Number** | **Description** |
| 99.1 | [Press Release, dated March 15, 2023](d472009dex991.htm) |
| 104 | Cover Page Interactive Data File (embedded within the Inline XBRL document). |

---

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#### SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, as amended, the Registrant has duly caused this Current Report on Form 8-K to be signed on its behalf by the undersigned hereunto duly authorized.

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| | | |
|:---|:---|:---|
|  | CRESCENT CAPITAL, BDC, INC. | CRESCENT CAPITAL, BDC, INC. |
| Date: March 15, 2023 | By: | /s/ Gerhard Lombard |
|  | Name: | Gerhard Lombard |
|  | Title: | Chief Financial Officer |

---

## Exhibit 99.1

**Exhibit 99.1**![LOGO](g472009g57b81.jpg)

**Crescent Capital BDC, Inc. Provides Business Update** 

LOS ANGELES, CA, March 15, 2023 — In light of the well-publicized recent developments at both Silicon Valley Bank ("SVB") and Signature Bank ("Signature"), as well as the broader regional banking sector, the team at Crescent Capital BDC, Inc. ("Crescent BDC" which may also be referred to as "we," "us," or "our") (NASDAQ: CCAP) has been in active dialogue with the sponsors and management teams of its portfolio companies to assess exposure to both SVB and Signature as well as their broader banking relationships.

**<u>Crescent BDC's Lack of Direct Exposure to SVB and Signature</u>**

Crescent BDC has no direct exposure to SVB or Signature. Crescent BDC does not have cash accounts or deposits with either bank, and from a counterparty exposure perspective, with respect to our liabilities (i.e., where Crescent BDC is a borrower or issuer of debt), SVB and Signature are not counterparties.

**<u>Crescent BDC's Limited Portfolio Company Exposure to SVB and Signature</u>**

From an indirect exposure perspective, our team has been working closely with our portfolio companies to understand their banking relationships and any exposure to SVB or Signature through cash balances and operating bank accounts. While we've identified certain instances of portfolio companies having exposure to SVB through deposit accounts only, we believe that the direct risk of cash depository loss of any portfolio company has likely been remediated based on Sunday's decision by the Treasury, Federal Reserve and FDIC to fully protect all SVB and Signature depositors. Additionally, based on our analysis, we've determined that the majority of the SVB deposit account balances held by the identified portfolio companies are immaterial in nature, and would not have meaningfully impacted the companies' operations should depositor support not have been provided.

None of our portfolio companies have exposure to Signature through deposit accounts.

None of our portfolio companies have SVB or Signature as a participant in their respective credit facilities. Therefore, we do not believe there is any current liquidity impact on our portfolio companies.

**<u>Crescent Capital Group's ("Crescent") Lack of Direct Exposure to SVB and Signature</u>**

At the corporate level, Crescent has no direct exposure to SVB or Signature. Crescent does not have cash accounts or deposits with either bank. Neither SVB nor Signature provide credit facilities to Crescent.

**About Crescent BDC** 

Crescent BDC is a business development company that seeks to maximize the total return of its stockholders in the form of current income and capital appreciation by providing capital solutions to middle market companies with sound business fundamentals and strong growth prospects. Crescent BDC utilizes the extensive experience, origination capabilities and disciplined investment process of Crescent. Crescent BDC is externally managed by Crescent Cap Advisors, LLC, a subsidiary of Crescent. Crescent BDC has elected to be regulated as a business development company under the Investment Company Act of 1940, as amended. For more information about Crescent BDC, visit www.crescentbdc.com. However, the contents of such website are not and should not be deemed to be incorporated by reference herein.

**About Crescent Capital Group** 

Crescent is a global credit investment manager with over $40 billion of assets under management. For over 30 years, the firm has focused on below investment grade credit through strategies that invest in marketable and privately originated debt securities including senior bank loans, high yield bonds, as well as private senior, unitranche and junior debt securities. Crescent is headquartered in Los Angeles with offices in New York, Boston, Chicago and London with more than 200 employees globally. Crescent is a part of SLC Management, the institutional alternatives and traditional asset management business of Sun Life. For more information about Crescent, visit www.crescentcap.com. However, the contents of such website are not and should not be deemed to be incorporated by reference herein.

**Contact:** 

Dan McMahon

daniel.mcmahon@crescentcap.com

212-364-0149

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![LOGO](g472009g57b81.jpg)

**Forward-Looking Statements** 

This press release, and other statements that Crescent BDC may make, may contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act, with respect to Crescent BDC's future financial or business performance, strategies or expectations. Forward-looking statements are typically identified by words or phrases such as "trend," "potential," "opportunity," "pipeline," "believe," "comfortable," "expect," "anticipate," "current," "intention," "estimate," "position," "assume," "outlook," "continue," "remain," "maintain," "sustain," "seek," "achieve," and similar expressions, or future or conditional verbs such as "will," "would," "should," "could," "may" or similar expressions.

Crescent BDC cautions that forward-looking statements are subject to numerous assumptions, risks and uncertainties, which may change over time. Forward-looking statements speak only as of the date they are made, and Crescent BDC assumes no duty to and does not undertake to update forward-looking statements. Actual results could differ materially from those anticipated in forward-looking statements and future results could differ materially from historical performance.

In addition to factors previously disclosed in Crescent BDC's SEC reports and those identified elsewhere in this press release, the following factors, among others, could cause actual results to differ materially from forward-looking statements or historical performance: (1) our future operating results; (2) our business prospects and the prospects of our portfolio companies; (3) the impact of investments that we expect to make; (4) our contractual arrangements and relationships with third parties; (5) the dependence of our future success on the general economy and its impact on the industries in which we invest; (6) the financial condition of and ability of our current and prospective portfolio companies to achieve their objectives; (7) our expected financings and investments; (8) the adequacy of our cash resources and working capital, including our ability to obtain continued financing on favorable terms; (9) the timing of cash flows, if any, from the operations of our portfolio companies; (10) the impact of increased competition; (11) the ability of our investment adviser to locate suitable investments for us and to monitor and administer our investments; (12) potential conflicts of interest in the allocation of opportunities between us and other investment funds managed by our investment adviser or its affiliates; (13) the ability of our investment adviser to attract and retain highly talented professionals; (14) changes in law and policy accompanying the new administration and uncertainty pending any such changes; (15) increased geopolitical unrest, terrorist attacks or acts of war, which may adversely affect the general economy, domestic and local financial and capital markets, or the specific industries of our portfolio companies; (16) changes and volatility in political, economic or industry conditions, the interest rate environment, foreign exchange rates or financial and capital markets; (17) the unfavorable resolution of legal proceedings; and (18) the impact of changes to tax legislation and, generally, our tax position.

Crescent BDC's Annual Report on Form 10-K for the year ended December 31, 2022, filed with the SEC, identifies additional factors that can affect forward-looking statements.