Welcome to our dedicated page for Crescent Capital Bdc news (Ticker: CCAP), a resource for investors and traders seeking the latest updates and insights on Crescent Capital Bdc stock.
Crescent Capital BDC, Inc. reports business development company developments tied to its portfolio of debt and related equity investments in private U.S. middle-market companies. News releases commonly cover net investment income, net asset value, dividend declarations, portfolio originations, follow-on fundings, exits, sales and repayments.
Company updates also include earnings-call scheduling, senior unsecured note activity, credit ratings, share repurchase authorizations and other capital actions. As an externally managed, closed-end, non-diversified management investment company, Crescent BDC’s news flow centers on income generation, portfolio fair value, leverage and capital distribution policy.
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Crescent Capital BDC, Inc. (NASDAQ: CCAP) has announced the schedule for its financial results for the first quarter ended March 31, 2023. The results will be released on May 10, 2023, after market close, followed by a webcast and conference call on May 11, 2023, at 12:00 p.m. ET. Interested parties can access the conference call by dialing (888) 886-7786 and entering Conference ID 29533312. A replay will be available on the Investor Relations section of Crescent BDC's website. Crescent BDC focuses on maximizing total returns for its stockholders through capital solutions to middle market companies, leveraging the expertise of Crescent Capital Group LP, which manages over $40 billion in assets.
Crescent BDC announced it has no direct exposure to Silicon Valley Bank (SVB) or Signature Bank, following recent developments impacting the banking sector. The company does not hold cash accounts or credit facilities with either institution. Limited indirect exposure exists through a few portfolio companies with minimal SVB deposits, deemed immaterial to operations. The Treasury's decision to protect depositors mitigates risks for these companies. Crescent BDC's portfolio remains unaffected by liquidity issues, ensuring investor confidence in its financial stability.
Crescent Capital BDC (NASDAQ: CCAP) has completed its merger with First Eagle Alternative Capital BDC (formerly NASDAQ: FCRD), creating a combined entity with over $1.6 billion in assets. As part of the merger, First Eagle BDC stockholders will receive $0.29 in cash, 0.20635 shares of Crescent BDC, and $1.17 in cash for transaction support. Crescent BDC’s net asset value per share was $19.91 as of March 7, 2023. The merger aims to enhance market presence, increase capital access, and diversify assets while being accretive to core earnings. Additionally, Sun Life Financial will purchase up to $20 million of the combined company’s common stock.
First Eagle Alternative Capital BDC, Inc. (NASDAQ: FCRD) and Crescent Capital BDC, Inc. (NASDAQ: CCAP) announced the Election Deadline for FCRD stockholders to choose between cash consideration or CCAP common stock as part of their merger. The deadline is set for 5:00 p.m. ET on March 2, 2023, ahead of the special stockholders' meeting scheduled for March 7, 2023. Upon merger completion, FCRD stockholders will receive consideration based on CCAP’s net asset value and an additional cash payment of $35 million from CCAP Advisor, distributed per share of FCRD. Stockholders must submit their elections on time to be eligible for their choice.
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Crescent Capital BDC (NASDAQ: CCAP) reported a net investment income of $59.7 million or $1.93 per share for 2022, alongside an adjusted net investment income of $53.4 million or $1.73 per share. The fourth quarter net investment income was $16.1 million, $0.52 per share, maintaining the quarterly dividend at $0.41 per share for Q1 2023, payable on April 17. As of December 31, 2022, net asset value per share was $19.83. The company invested $308 million in 2022, a decline from $647.4 million in 2021, with total expenses rising to $57 million due to increased debt costs.
Crescent Capital BDC, Inc. (NASDAQ: CCAP) announced it will release its financial results for Q4 and the fiscal year ended December 31, 2022, on February 22, 2023, after market close. A webcast and conference call to discuss these results are scheduled for February 23, 2023, at 12:00 p.m. ET. Interested participants can join the call via the toll-free number (888) 396-8049 using Conference ID 56871279. Crescent BDC aims to maximize stockholder returns through capital solutions for middle-market companies. The company is externally managed by Crescent Cap Advisors and complies with the Investment Company Act of 1940.
Crescent Capital BDC (CCAP) reported a net investment income of $16.0 million ($0.52/share) for Q3 2022, reflecting an increase from $15.5 million in Q2 2022. Adjusted net investment income stood at $13.0 million ($0.42/share). The net asset value per share decreased to $20.16 from $20.69 in Q2. The company declared a cash dividend of $0.41 per share for Q4 2022, payable January 17, 2023. Total investments rose to $1.292 billion, with a portfolio yield of 9.5%. However, net realized losses were $2.5 million, and unrealized losses totaled $15.8 million.
Crescent Capital BDC, Inc. (NASDAQ: CCAP) will announce its third-quarter financial results for the period ending September 30, 2022, on November 9, 2022, after market close. A conference call is scheduled for November 10, 2022, at 12:00 p.m. ET to discuss these results. The earnings call can be accessed via the company's Investor Relations website. Crescent BDC aims to maximize returns for stockholders through capital solutions for middle-market companies with strong fundamentals.