# EDGAR Filing Document

**Accession Number:** 0001702510
**File Stem:** 0001702510-25-000125
**Filing Date:** 2025-10
**Character Count:** 17080
**Document Hash:** 3ebaa4b27042a365a304ea57c573454f
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001702510-25-000125.hdr.sgml**: 20251023

**ACCESSION NUMBER**: 0001702510-25-000125

**CONFORMED SUBMISSION TYPE**: SC TO-I/A

**PUBLIC DOCUMENT COUNT**: 15

**FILED AS OF DATE**: 20251023

**DATE AS OF CHANGE**: 20251023

**SUBJECT COMPANY**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** Carlyle Credit Solutions, Inc.
- **CENTRAL INDEX KEY:** 0001702510

**ORGANIZATION NAME:**
- **EIN:** 815320146
- **STATE OF INCORPORATION:** MD
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** SC TO-I/A
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 005-90234
- **FILM NUMBER:** 251413027

**BUSINESS ADDRESS:**
- **STREET 1:** ONE VANDERBILT AVENUE
- **STREET 2:** SUITE 3400
- **CITY:** NEW YORK
- **STATE:** NY
- **ZIP:** 10017
- **BUSINESS PHONE:** 212-813-4900

**MAIL ADDRESS:**
- **STREET 1:** ONE VANDERBILT AVENUE
- **STREET 2:** SUITE 3400
- **CITY:** NEW YORK
- **STATE:** NY
- **ZIP:** 10017

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** TCG BDC II, Inc.
- **DATE OF NAME CHANGE:** 20170330
**FILED BY**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** Carlyle Credit Solutions, Inc.
- **CENTRAL INDEX KEY:** 0001702510

**ORGANIZATION NAME:**
- **EIN:** 815320146
- **STATE OF INCORPORATION:** MD
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** SC TO-I/A

**BUSINESS ADDRESS:**
- **STREET 1:** ONE VANDERBILT AVENUE
- **STREET 2:** SUITE 3400
- **CITY:** NEW YORK
- **STATE:** NY
- **ZIP:** 10017
- **BUSINESS PHONE:** 212-813-4900

**MAIL ADDRESS:**
- **STREET 1:** ONE VANDERBILT AVENUE
- **STREET 2:** SUITE 3400
- **CITY:** NEW YORK
- **STATE:** NY
- **ZIP:** 10017

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** TCG BDC II, Inc.
- **DATE OF NAME CHANGE:** 20170330

**UNITED STATES<br>SECURITIES AND EXCHANGE COMMISSION**

**WASHINGTON, D.C. 20549**

<u><br></u>

**SCHEDULE TO<br>(Amendment No. 1)**

**(Rule 13e-4)**

<u><br></u>

**TENDER OFFER STATEMENT PURSUANT TO SECTION 14(D)(1) OR 13(E)(1)<br>OF THE SECURITIES EXCHANGE ACT OF 1934**

<u><br></u>

**Carlyle Credit Solutions, Inc.** 

**(Name of Subject Company (Issuer))**

**Carlyle Credit Solutions, Inc. <br>(Name of Filing Person (Offeror and Issuer))**

**Common Stock, $0.01 par value per share <br>(Title of Class of Securities)**

**None <br>(CUSIP Number of Class of Securities)**

<u><br></u>

**Justin V. Plouffe**

**President and Chief Executive Officer <br>Carlyle Credit Solutions, Inc. <br>One Vanderbilt Avenue, Suite 3400 <br>New York, NY 10017 <br>(212) 813-4900** 

 **(Name, Address and Telephone No. of Person Authorized to Receive Notices and Communications on Behalf of the Person(s) Filing Statement)**

<u><br></u>

**With a copy to:**

**William G. Farrar, Esq. <br>Sullivan & Cromwell LLP<br>125 Broad Street <br>New York, NY 10004**

**(212) 558-4940**

**September 22, 2025**

**(Date Tender Offer First Published, Sent or Given to Security Holders)**

<u><br></u>

☐&nbsp;&nbsp;&nbsp;&nbsp;Check the box if any part of the fee is offset as provided by Rule 0-11(a)(2) and identify the filing with which the offsetting fee was previously paid. Identify the previous filing by registration statement number, or the Form of Schedule and the date of its filing.

---

| | |
|:---|:---|
| &nbsp;&nbsp;Amount Previously Paid: | &nbsp;&nbsp;Filing Parties: |
| &nbsp;&nbsp;Form or Registration No.: | &nbsp;&nbsp;Date Filed: |

---

☐&nbsp;&nbsp;&nbsp;&nbsp;Check the box if the filing relates solely to preliminary communications made before commencement of a tender offer.

Check the appropriate boxes below to designate any transactions to which the statement relates:

☐&nbsp;&nbsp;&nbsp;&nbsp;third-party tender offer subject to Rule 14d-1.

☒&nbsp;&nbsp;&nbsp;&nbsp;issuer tender offer subject to Rule 13e-4.

☐&nbsp;&nbsp;&nbsp;&nbsp;going-private transaction subject to Rule 13e-3.

☐&nbsp;&nbsp;&nbsp;&nbsp;amendment to Schedule 13D under Rule 13d-2.

Check the following box if the filing is a final amendment reporting the results of the tender offer: ☐

------

**AMENDMENT TO TENDER OFFER STATEMENT**

This Amendment No. 1 (this "Amendment") amends and supplements the Tender Offer Statement on Schedule TO filed by Carlyle Credit Solutions, Inc., a Maryland corporation (the "Company"), with the U.S. Securities and Exchange Commission on September 22, 2025 (together with any subsequent amendments and supplements thereto, the "Schedule TO"). The Schedule TO relates to the offer by the Company to purchase up to 2,733,492 shares of its common stock, par value $0.01 per share (the "Shares"), at a purchase price equal to the net asset value per Share as of September 30, 2025, upon the terms and subject to the conditions set forth in the Offer to Purchase, dated September 22, 2025 (together with any amendments or supplements thereto, the "Offer to Purchase"), and in the accompanying Letter of Transmittal (together with any amendments or supplements thereto and with the Offer to Purchase, the "Offer"), which are annexed to and filed with the Schedule TO as Exhibits (a)(1)(ii) and (a)(1)(iii), respectively.

This Amendment is being filed by the Company. Unless otherwise indicated, references to sections in the Schedule TO are references to sections of the Offer to Purchase. Except as otherwise set forth in this Amendment, the information set forth in the Schedule TO remains unchanged and is incorporated herein by reference to the extent relevant to the items in this Amendment. Capitalized terms used but not defined herein have the meanings ascribed to them in the Schedule TO.

The following information is provided pursuant to Rule 13e-4:

-&nbsp;&nbsp;&nbsp;&nbsp;The Company has received the final results of the tender offer, which expired at 11:59 p.m., New York City Time, on October 20, 2025;

-&nbsp;&nbsp;&nbsp;&nbsp;The Company has accepted for purchase 1,210,319 Shares at a purchase price per Share equal to the net asset value per Share as of September 30, 2025; and

-&nbsp;&nbsp;&nbsp;&nbsp;The number of Shares that the Company has accepted for purchase in the tender offer represents approximately 1.564% of the total number of Shares outstanding as of September 30, 2025.

**Items 1 through 9 and Item 11**

The information set forth in the Offer to Purchase and Items 1 through 9 and Item 11 of the Schedule TO, to the extent such Items incorporate by reference the information contained in the Offer to Purchase, are hereby amended and supplemented by adding the below paragraph as the last paragraph in Section 3 on page 3 of the Offer to Purchase:

"On October 23, 2025, the Company issued a letter to stockholders announcing the final results of the Offer, which expired at 11:59 p.m., New York City Time, on October 20, 2025. A copy of this letter is filed as Exhibit (a)(vii) and is incorporated by reference herein."

**Item 12. Exhibits.**

(a)(1)&nbsp;&nbsp;&nbsp;&nbsp;

(i) &nbsp;&nbsp;&nbsp;&nbsp;Cover Letter to Offer to Purchase and Letter of Transmittal.\*

(ii) &nbsp;&nbsp;&nbsp;&nbsp;Offer to Purchase.\*

(iii) &nbsp;&nbsp;&nbsp;&nbsp;Form of Letter of Transmittal.\*

(iv) &nbsp;&nbsp;&nbsp;&nbsp;Form of Letter from the Company to Stockholders in Connection with the Company's Acceptance of Shares.

(v) &nbsp;&nbsp;&nbsp;&nbsp;Form of Promissory Note.\*

(vi)&nbsp;&nbsp;&nbsp;&nbsp;Form of Notice of Withdrawal of Tender.\*

------

(vii) &nbsp;&nbsp;&nbsp;&nbsp;Form of Letter, dated October 23, 2025, from the Company to Stockholders Announcing the Results of the Tender.

(a)(2)-(4)&nbsp;&nbsp;&nbsp;&nbsp;Not applicable.

(d)&nbsp;&nbsp;&nbsp;&nbsp;None.

(e)&nbsp;&nbsp;&nbsp;&nbsp;None.

(f)&nbsp;&nbsp;&nbsp;&nbsp;Not applicable.

(g)&nbsp;&nbsp;&nbsp;&nbsp;Not applicable.

(h)&nbsp;&nbsp;&nbsp;&nbsp;Not applicable.

107&nbsp;&nbsp;&nbsp;&nbsp;Filing Fee Table

_____________

\* Previously filed on September 22, 2025 as an exhibit to the Schedule TO.

**Item 13. Information Required by Schedule 13E-3.**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Not Applicable.

------

**SIGNATURE**

After due inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.

CARLYLE CREDIT SOLUTIONS, INC.

By:&nbsp;&nbsp;&nbsp;&nbsp;<u>/s/ Joshua Lefkowitz&nbsp;&nbsp;&nbsp;&nbsp;</u>

Name:&nbsp;&nbsp;&nbsp;&nbsp;Joshua Lefkowitz

Title:&nbsp;&nbsp;&nbsp;&nbsp;Chief Compliance Officer and Secretary

Dated: October 23, 2025

------

**EXHIBIT INDEX**

---

| | |
|:---|:---|
| **<u>Exhibit</u>** | |
| (a)(1)(i) | Cover Letter to Offer to Purchase and Letter of Transmittal.\* |
| (a)(1)(ii) | Offer to Purchase.\* |
| (a)(1)(iii) | Forms of Letter of Transmittal.\* |
| (a)(1)(iv) | <u>[Form of Letter from the Company to Shareholders in Connection with the Company's Acceptance of Shares.](cars_20251023xsctoaxexa1iv.htm)</u> |
| (a)(1)(v) | Form of Promissory Note.\* |
| (a)(1)(vi) | Forms of Notice of Withdrawal of Tender.\* |
| (a)(1)(vii) | <u>[Form of Letter, dated July 23, 2025, from the Company to Stockholders Announcing the Results of the Tender.](cars_20251023xsctoaxexa1vii.htm)</u> |
| 107 | <u>[Filing Fee Table](filingfees.htm)</u> |

---

_____________

\* Previously filed on September 22, 2025 as an exhibit to the Schedule TO.

## Ex-Filing

?xml version='1.0' encoding='ASCII'? EX-FILING FEES

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Calculation of Filing Fee Tables** <br>

---

| | | | |
|:---|:---|:---|:---|
| | | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Transaction Valuation**  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Amount of Filing Fee**  |
| Fees to be Paid |  |  |  |
| Fees Previously Paid | 1 | $52100357.52 | $7195.06 |
|  | Total Transaction Valuation: | $52100357.52  |  |
|  | Total Fees Due for Filing: |  | $7195.06  |
|  | Total Fees Previously Paid:  |  | $0.00  |
|  | Total Fee Offsets:  |  | $7195.06  |
|  | Net Fee Due:  |  | $0.00  |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Offering Note** <br>

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <sup>1</sup> Calculated as the aggregate maximum purchase price for shares of common stock, par value $0.01 per share, of Carlyle Credit Solutions, Inc. ("Shares"), based upon the net asset value per Share as of August 31, 2025, of $19.06. This amount is based upon the offer to purchase up to 2,733,492 Shares.

---

| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| | | Registrant or Filer Name | Form or Filing Type | File Number | Initial Filing Date | Filing Date | Fee Offset Claimed | Fee Paid with Fee Offset Source |
| Fee Offset Claims | 1, 2 |  | Schedule TO | 005-90234 | 09/22/2025 |  | $7195.06 |  |
| Fee Offset Sources |  | Carlyle Credit Solutions, Inc. | Schedule TO | 005-90234 |  | 09/22/2025 |  | $7195.06 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Explanation of the basis for claimed offset:** <br>

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <sup>1</sup> Calculated as the aggregate maximum purchase price for shares of common stock, par value $0.01 per share, of Carlyle Credit Solutions, Inc. ("Shares"), based upon the net asset value per Share as of August 31, 2025, of $19.06. This amount is based upon the offer to purchase up to 2,733,492 Shares.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Offset Note** <br>

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <sup>2</sup> The fee of $7,195.06 was paid in connection with the filing of the Schedule TO-I by Carlyle Credit Solutions, Inc. (File No. 005-90234) on September 22, 2025.

## Ex-99.(A)(1)(Iv)

**Exhibit (a)(1)(iv)**

**Form of Letter from the Company to Stockholders<br>in Connection with the Company's Acceptance of Shares**

CARLYLE CREDIT SOLUTIONS, INC.<br>c/o STATE STREET BANK TRANSFER AGENCY <br>1776 Heritage Drive, Mailstop JAB/3SE

Quincy, MA 02171

October 23, 2025

[STOCKHOLDER NAME/ADDRESS]

Dear Stockholder:

This letter serves to inform you that Carlyle Credit Solutions, Inc. (the "Company") has received and accepted for purchase in accordance with the terms of the Company's tender offer that expired at 11:59 p.m., New York City Time, on October 20, 2025, your tender of shares of common stock, par value $0.01 per share (the "Shares"), of the Company.

Based on the final count by State Street Bank & Trust Company, the Company's transfer agent (the "Transfer Agent"), 1,210,319 Shares were properly tendered and not properly withdrawn prior to the expiration date, which was less than the maximum number of 2,733,492 Shares the Company offered to purchase pursuant to the tender offer.

Based on the final count described above, the Company accepted for purchase all 1,210,319 Shares that were properly tendered and not properly withdrawn pursuant to the Offer. As a result, the Company has purchased from you all of the Shares you properly tendered and did not properly withdraw pursuant to the Offer. The number of Shares that the Company has accepted for purchase in the tender offer represents approximately 1.564% of the total number of Shares outstanding as of September 30, 2025.

In accordance with the terms of the tender offer, you have been issued a non-interest bearing, non-transferable and non-negotiable promissory note (the "Note"), which is being held on your behalf by the Transfer Agent that entitles you to receive payment(s) in an aggregate amount equal to the net asset value of the tendered Shares as of September 30, 2025 less the 2% "early repurchase fee" applicable to Shares that have not been outstanding for at least one year.

If you have any questions (or wish to request a copy of your Note), please contact the Company's Transfer Agent at (888) 207-9542.

Sincerely,

Carlyle Credit Solutions, Inc.

## Ex-99.(A)(1)(Vii)

**Exhibit (a)(1)(vii)** 

**CARLYLE CREDIT SOLUTIONS, INC.** 

**Announcement of Results of Previously Announced**

**Tender Offer by Carlyle Credit Solutions, Inc. for its Shares**

October 23, 2025

<br>Dear Stockholder:

Carlyle Credit Solutions, Inc. (the "Company") today announced the results of its previously announced tender offer to purchase up to 2,733,492 shares of its common stock, par value $0.01 per share (the "Shares"), which expired at 11:59 p.m., New York City Time, on October 20, 2025.

Based on the final count by State Street Bank & Trust Company, the Company's transfer agent (the "Transfer Agent"), 1,210,319 Shares were properly tendered and not properly withdrawn prior to the expiration date for the tender offer, which was less than the maximum number of 2,733,492 Shares the Company offered to purchase pursuant to the tender offer.

In accordance with the terms of the tender offer and based on the final count described above, the Company accepted for purchase all of the Shares properly tendered and not properly withdrawn pursuant to the Offer. The number of Shares that the Company has accepted for purchase in the tender offer represents approximately 1.564% of the total number of Shares outstanding as of September 30, 2025.

<br>In accordance with the terms of the tender offer, stockholders that have sold Shares to the Company in the tender offer have been issued a non-interest bearing, non-transferable and non-negotiable promissory note, which is being held on the stockholder's behalf by the Transfer Agent, entitling the stockholder to receive payment(s) in an aggregate amount equal to the net asset value of the tendered Shares as of September 30, 2025 less the 2% "early repurchase fee" applicable to Shares that have not been outstanding for at least one year.

If you have any questions, please contact the Company's Transfer Agent at (888) 207-9542.

Sincerely,

Carlyle Credit Solutions, Inc.

<br>