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. (NASDAQ: CCAP) is an externally managed, closed-end, non-diversified management investment company. Its primary goal is to maximize total return for stockholders through a mix of current income and capital appreciation. Crescent Capital BDC achieves this by investing in both secured and unsecured debt along with related equity securities, primarily in private U.S. middle-market companies. The company's portfolio includes senior secured, unitranche, second lien, mezzanine, and subordinated debt.
As of December 31, 2023, Crescent Capital BDC had investments in 186 portfolio companies, with an aggregate fair value of $1,582.1 million. The company's debt to equity ratio was 1.15x, indicating a balanced financial approach. It had $21.5 million in cash and cash equivalents and $314.5 million in undrawn credit capacity.
Recent financial updates highlight the company's proactive investment strategies. As of June 30, 2023, Crescent Capital BDC's weighted average interest rate on outstanding debt was 6.73%. Additionally, the company engages in unitranche loans, where it may retain a 'last out' portion for a higher interest rate in exchange for added risk.
For the latest quarterly earnings, Crescent Capital BDC offers replays of their earnings calls via webcast links on their Investor Relations section. These calls provide insights into their investment activities and financial conditions. The company's strategic partnerships and investment approaches position it as a significant player in the middle-market investment landscape.
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.
Crescent Capital BDC (CCAP) has announced a definitive merger agreement to acquire First Eagle Alternative Capital BDC (FCRD). This merger, valued at approximately $180.1 million, is set to enhance Crescent’s portfolio, projected to combine approximately $1.6 billion in investments. First Eagle BDC shareholders will receive cash and Crescent BDC shares as part of the merger. The transaction is expected to close in the fourth quarter of 2022, pending regulatory and shareholder approvals.
Crescent Capital BDC reported a net investment income of $15.5 million ($0.50 per share) for Q2 2022, up from $12.1 million in the previous quarter. Adjusted net investment income was $12.7 million ($0.41 per share). The company declared a regular cash dividend of $0.41 per share for Q3 2022, to be paid on October 17, 2022. Total assets stood at $1.323 billion with net asset value per share at $20.69. Investments increased to $1.285 billion across 137 portfolio companies, showcasing substantial portfolio activity during the quarter.
Crescent Capital BDC, Inc. (NASDAQ: CCAP) announced it will release its financial results for Q2 2022 on August 10, 2022, after market close. A webcast and conference call to discuss these results will occur on August 11, 2022, at 12:00 PM ET. Crescent BDC aims to maximize total returns for stockholders by providing capital solutions to middle-market companies with strong growth prospects. It is externally managed by Crescent Cap Advisors, a subsidiary of Crescent Capital Group, which manages over $38 billion in assets.
Crescent Capital BDC (CCAP) reported net investment income of $12.1 million ($0.39 per share) for Q1 2022, with an adjusted net income of $12.9 million ($0.42 per share). The net asset value per share rose to $21.18 from $21.12 in Q4 2021. The company declared a regular cash dividend of $0.41 per share for Q2 2022, payable July 15. Total investments increased to $1,288.6 million, with investment income up to $26.4 million from $20.6 million year-over-year.
Crescent Capital BDC (NASDAQ: CCAP) will announce its financial results for Q1 2022 on May 9, 2022, post-market. A conference call is scheduled for May 10, 2022, at 12:00 p.m. ET to discuss these results. Participants can join via the company's website or by calling (855) 982-6679 (domestic) or (614) 999-9468 (international) with Conference ID: 9787085. Crescent BDC aims to maximize stockholder returns through capital solutions for middle-market firms.
Crescent Capital BDC, Inc. (NASDAQ: CCAP) reported strong financial results for the year ended December 31, 2021, with net investment income of $47.6 million ($1.67 per share) and adjusted net investment income of $53.9 million ($1.89 per share). The company declared a regular cash dividend of $0.41 per share for Q1 2022, along with a special cash dividend of $0.05 per share. Total investments at fair value reached $1.27 billion, with a net asset value per share of $21.12. Notably, Crescent Capital increased its investment income by 22% year-over-year, driven by substantial net deployment.
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