 LOS ANGELES, Aug. 10, 2020 GLOBE NEWSWIRE -- Crescent Capital BDC, Inc. Crescent BDC or Company NASDAQ: CCAP today reported net investment income of 13.0 million, or 0.46 per share, and a net increase in net assets resulting from operations of 56.4 million, or 2.00 per share, for the second quarter ended June 30, 2020. Reported net asset value per share was 18.12 at June 30, 2020 as compared to 16.52 at March 31, 2020.The increase in net asset value for the second quarter was primarily driven by unrealized gains from the impact of credit spreads tightening relative to the end of the first quarter.Declaration of Regular Dividend for Third Quarter 2020The Company announced that its Board of Directors has declared a third quarter 2020 dividend of 0.41 per share, which will be paid on or around October 15, 2020 to stockholders of record as of the close of business on September 30, 2020.Selected Financial Highlights in millions, except per share amounts. Unaudited. As of June 30, 2020 March 31, 2020 June 30, 2019 Investments, at fair value 895.2 883.2 624.9 Total assets 926.3 909.9 637.2 Total net assets 510.3 465.8 320.8 Net asset value per share 18.12 16.52 19.75 Weighted average yield on income producing securities at cost1 7.9 7.9 8.4 Percentage of debt investments at floating rates 96.9 96.0 96.1 1 Yield excludes investments on non-accrual status. Three Months Ended June 30, 2020 March 31, 2020 Total Amount Per Share Total Amount Per Share Total investment income 19.3 0.69 18.8 0.72 Net investment income 13.0 0.46 11.6 0.44 Net realized gains losses 1.1 0.04 0.1 0.00 Net unrealized gains losses, net of taxes 44.5 1.59 82.2 3.14 Realized loss on asset acquisition na na 3.8 0.14 Net increase decrease in net assets resulting from operations 56.4 2.00 74.5 2.84 Dividend distributions per share 0.41 0.41 Portfolio Investing ActivityAs of June 30, 2020 and March 31, 2020, the Company had investments in 124 and 127 portfolio companies with an aggregate fair value of 895.2 million and 883.2 million, respectively. The portfolio at fair value was comprised of the following asset types: As of in millions June 30, 2020 March 31, 2020 Investment Type Fair Value Percentage Fair Value Percentage Senior secured first lien 361.7 40.4 387.2 43.8 Unitranche first lien 307.2 34.3 294.2 33.3 Unitranche first lien - last out 14.4 1.6 14.6 1.6 Senior secured second lien 106.7 11.9 102.9 11.7 Unsecured debt 8.7 1.0 8.6 1.0 Equity other 45.0 5.0 31.8 3.6 LLCLP equity interests 51.5 5.8 43.9 5.0 Total investments 895.2 100.0 883.2 100.0 For the three months ended June 30, 2020, the Company invested 26.4 million into one new portfolio company, one refinancing and several follow-on revolver and delayed draw fundings. For this period, the Company had 60.4 million in aggregate exits, sales and repayments.For the three months ended March 31, 2020, excluding assets acquired in the Alcentra Capital Corp. Alcentra acquisition, the Company invested 117.4 million across seven new portfolio companies and three existing portfolio companies. For this period, the Company had 73.8 million in aggregate exits, sales and repayments.Results of Operations for the Three Months Ended June 30, 2020 Investment income increased to 19.3 million for the three months ended June 30, 2020 from 18.8 million for the three months ended March 31, 2020. The increase was due in part to three months of investment income from Alcentra portfolio investments that the Company acquired on January 31, 2020.Total net expenses, including income and excise taxes, decreased to 6.4 million for the three months ended June 30, 2020 from 7.3 million for the three months ended March 31, 2020. The decrease was primarily due to lower interest and other debt financing costs as the weighted average interest rate on the Companys weighted average outstanding debt decreased from 4.0 for the three months ended March 31, 2020 to 3.0 for the three months ended June 30, 2020.Liquidity and Capital ResourcesAs of June 30, 2020, the Company had 11.6 million in cash and cash equivalents and restricted cash and 166.1 million of undrawn capacity on its revolving credit facilities, subject to borrowing base and other limitations. The weighted average interest rate on the Companys debt outstanding was 2.7 as of June 30, 2020.The Companys debt to equity ratio was 0.78x as of June 30, 2020.On July 30, 2020, the Company announced that it agreed to issue 50 million aggregate principal amount of 5.95 senior unsecured notes due July 30, 2023. Pro forma for this transaction, the Company had over 200 million of available liquidity as of June 30, 2020.Conference CallThe Company will host a webcastconference call on Tuesday, August 11, 2020 at 12:00 p.m. Eastern Time to discuss its quarter ended June 30, 2020 financial results. Please visit Crescent BDCs webcast link located on the Events Presentations page of the Investor Relations section of Crescent BDCs website for a slide presentation that complements the earnings conference call.All interested parties are invited to participate via telephone or the live webcast, which will be hosted on a webcast link located on the Events Presentations page of the Investor Resources section of Crescent BDCs website at Please visit the website to test your connection before the webcast. Participants are also invited to access the conference call by dialing one of the following numbers:Domestic: 855 982-6679 International: 614 999-9468 Conference ID: 8443979All callers will need to enter the Conference ID followed by the sign and reference Crescent BDC once connected with the operator. An archived replay will be available via a webcast link located on the Investor Relations section of Crescent BDCs website.About Crescent BDCCrescent 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 Capital Group LP Crescent Capital. Crescent BDC is externally managed by Crescent Cap Advisors, LLC, a subsidiary of Crescent Capital. Crescent BDC has elected to be regulated as a business development company under the Investment Company Act of 1940. For more information about Crescent BDC, visit However, the contents of such website are not and should not be deemed to be incorporated by reference herein.About Crescent Capital GroupCrescent Capital is a global credit investment manager with approximately 28 billion of assets under management. For over 25 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 Capital is headquartered in Los Angeles with offices in New York, Boston, and London and more than 180 employees globally. For more information about Crescent Capital, visit However, the contents of such website are not and should not be deemed to be incorporated by reference herein.Contact:Daniel McMahon 212-364-0149 Forward-Looking StatementsThis 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 BDCs 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. 