Crescent Capital BDC, Inc.

Crescent Capital BDC, Inc. is a specialty finance company that lends to middle-market companies. The company is incorporated in Maryland and began trading on the NASDAQ stock exchange on February 3, 2020. It operates as a business development company (BDC) under the Investment Company Act of 1940 and has elected to be treated as a regulated investment company (RIC) for U.S. federal income tax purposes under Subchapter M of the Internal Revenue Code of 1986. This requires the company to invest at least 70% of its assets in "qualifying assets," meet source of income and asset diversification limitations, and distribute annually at least 90% of its taxable income and tax-exempt interest. The company's investment objective is to maximize total return for stockholders through current income and capital appreciation from debt and related equity investments. It primarily invests in secured debt, including first lien, unitranche first lien, and second-lien debt, as well as unsecured debt, which includes mezzanine and subordinated debt. Additionally, it invests in related equity securities of private U.S. middle-market companies. Investments are made either directly from target companies as primary market or private credit investments, or through primary or secondary market bank loan or high yield transactions in the broadly syndicated "over-the-counter" market. While the focus is on less liquid private credit transactions, the company may also invest in more liquid broadly syndicated loans to complement its private credit transactions.