UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, DC 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934. For the quarterly period ended September 30, 2022 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934. Commission file number 814-01132 Crescent Capital BDC, Inc. (Exact Name of Registrant as Specified in Its Charter) | --- | --- | --- | --- | |-------|----------------|----------|------- ...

Financial Data and Key Metrics Changes - Adjusted net investment income for Q2 2022 was reported at $0.41 per share, compared to $0.42 per share in the prior quarter [22] - GAAP net investment income for Q2 2022 was $0.50 per share, reflecting a noncash reversal of capital gains-based incentive fees [8] - Net asset value per share decreased to $20.69, down over 2% from $21.18 in the previous quarter, primarily due to unrealized losses from wider credit spreads [9][26] Business Line Data and Key Metrics Changes - The portfolio consisted of nearly $1.3 billion in investments across 137 companies, with an average investment size of less than 1% of the total portfolio [12] - Senior secured first lien and unitranche first lien loans represented 88% of the portfolio at fair value, up from 86% in the prior quarter [13] - 136 out of 137 debt investment portfolio companies made full scheduled principal and interest payments, with 91% of the debt investments marked above $0.95 on the dollar [14] Market Data and Key Metrics Changes - 98.7% of debt investments at fair value were floating rate, with a weighted average floor of 83 basis points [19] - The weighted average yield on income-producing securities increased to 8.3%, up from 7.5% in the prior quarter [28] - The debt-to-equity ratio was 1.03x, up from 0.97x at the end of Q1 2022, but still below the long-term target range [29] Company Strategy and Development Direction - The company maintains a disciplined credit selection approach focused on capital preservation, which has led to a diversified portfolio [11] - The strategy includes increasing the proportion of unitranche first lien loans to enhance yield opportunities while remaining at the top of the capital stack [17] - The company expects to benefit from rising interest rates, with projections indicating a potential increase in annual earnings by approximately $0.20 per share for a 100 basis point rise in short-term rates [20] Management's Comments on Operating Environment and Future Outlook - Management acknowledged the complex operating environment due to market volatility and inflation, but noted that portfolio companies have largely maintained solid margins [10] - There is uncertainty regarding deal flow for the remainder of the year, influenced by macroeconomic factors and potential market volatility [42] - The company remains optimistic about navigating economic uncertainty and is positioned to capitalize on attractive opportunities during periods of dislocation [32] Other Important Information - A quarterly cash dividend of $0.41 per share was declared for Q3 2022, consistent with the previous quarter [31] - The company is in the process of winding down a joint venture, with expectations to distribute remaining proceeds by the end of the year [18] Q&A Session Summary Question: Comments on spreads and new originations - Management indicated that spreads in private markets have widened, with new originations potentially reflecting higher spreads in Q3 [35] Question: Credit quality and inflation impact - Management noted some margin pressure in certain companies but did not observe meaningful credit deterioration overall [37][39] Question: Future M&A activity expectations - Management expressed uncertainty regarding deal flow, dependent on macroeconomic conditions, but noted potential for continued private market activity if the economy softens moderately [42] Question: Market dynamics and competition - Management highlighted that the closure of syndicated markets could create opportunities for private credit, with expectations of improved deal quality during volatile periods [49]

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, DC 20549 Title of each classTrading Symbol Name of each exchange on which registered Common Stock, $0.001 par value per share CCAP The Nasdaq Stock Market LLC Securities registered pursuant to Section 12(g) of the Act: None FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934. For the quarterly period ended June 30, 2022 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITI ...

First Eagle Alternative Capital BDC, Inc. Quarterly Update March 31, 2022 First Eagle Investments 1345 Avenue of the Americas, New York, NY 10105 © 2022 First Eagle Alternative Credit, LLC. All rights reserved. Notice to Recipients Statements made in this presentation may constitute forward-looking statements. Such statements reflect various assumptions by First Eagle Alternative Capital BDC, Inc. (the "Company" or "FCRD") concerning anticipated results and are not guarantees of future performance. These st ...

First Eagle Alternative Capital BDC, Inc. (FCRD) Q1 2022 Results Conference Call May 10, 2022 9:30 AM ET Company Participants Sabrina Rusnak-Carlson - General Counsel Chris Flynn - President, First Eagle Alternative Credit Jen Wilson - Chief Accounting Officer Jim Fellows - Chief Investment Officer Conference Call Participants Lee Cooperman - Omega Family Office Ryan Lynch - KBW Matt Tjaden - Raymond James Operator Good morning, and welcome to First Eagle Alternative Capital BDC, Inc. earnings conference ca ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, DC 20549 Title of each classTrading Symbol Name of each exchange on which registered Common Stock, $0.001 par value per share CCAP The Nasdaq Stock Market LLC Securities registered pursuant to Section 12(g) of the Act: None FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934. For the quarterly period ended March 31, 2022 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURIT ...

First Eagle Alternative Capital BDC, Inc. Earnings Presentation Quarter Ended December 31, 2021 First Eagle Investments 1345 Avenue of the Americas, New York, NY 10105 © 2022 First Eagle Alternative Credit, LLC. All rights reserved. Notice to Recipients Statements made in this presentation may constitute forward-looking statements. Such statements reflect various assumptions by First Eagle Alternative Capital BDC, Inc. (the "Company" or "FCRD") concerning anticipated results and are not guarantees of future ...

First Eagle Alternative Capital BDC, Inc. (FCRD) Q4 2021 Earnings Conference Call March 4, 2022 9:30 AM ET Company Participants Sabrina Rusnak-Carlson - General Counsel Christopher Flynn - President Michelle Handy - Head of Portfolio & Underwriting for Direct Lending Jen Wilson - CAO & Treasurer Conference Call Participants Leon Cooperman - Omega Advisors Paul Johnson - KBW Matt Jaden - Raymond James Operator Good morning, and welcome to First Eagle Alternative Capital BDC Inc. Earnings Conference Call for ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, DC 20549 Title of each classTrading SymbolName of each exchange on which registered Common Stock, $0.001 par value per share CCAP The Nasdaq Stock Market LLC Securities registered pursuant to Section 12(g) of the Act: None FORM 10-K (Mark One) ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934. For the fiscal year ended December 31, 2021 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EX ...

Financial Data and Key Metrics Changes - The company reported adjusted net investment income of $0.48 per share for Q3 2021, compared to $0.53 in the prior quarter and $0.43 in Q3 2020 [28] - GAAP earnings for Q3 2021 were $0.59 per share, down from $1.16 in Q2 2021 and $1.36 in Q3 2020 [28] - Net asset value (NAV) per share increased to $21.16, up from $20.98 in the previous quarter and $19.07 a year ago, marking the highest value since inception [12][29] Business Line Data and Key Metrics Changes - The investment portfolio consisted of over $1.1 billion across 132 portfolio companies, with 100% of the debt portfolio in sponsor-backed companies [14][15] - 120 out of 121 debt investment portfolio companies made full scheduled principal and interest payments, with 93% of the debt investments marked above $0.95 on the dollar [16][17] - The weighted average yield on income-producing securities was 7.6%, down from 7.8% in the prior quarter [32] Market Data and Key Metrics Changes - The company experienced a gross deployment of $158.5 million in Q3, with 95% in senior secured first lien or unitranche investments [18] - The total commitments for new deals represented only 14% of the total check size committed across Crescent, indicating the scale of the platform [19] Company Strategy and Development Direction - The company aims to ensure 100% dividend coverage via incentive waivers through 2022, reflecting a commitment to capital efficiency [24] - The acquisition of Alcentra Capital Corp has generated a 28% IRR, with 97% of the cost basis in the acquired assets realized [22] Management's Comments on Operating Environment and Future Outlook - Management maintains a positive outlook for the overall economy, expecting continued demand rebound [36] - The origination pipeline for Q4 is robust, with expectations for strong net deployment, potentially the strongest of the year [21] Other Important Information - The Board declared a quarterly cash dividend of $0.41 per share, along with a series of special cash dividends of $0.05 per share [25][26] - The company has a debt-to-equity ratio of 0.94, providing a significant cushion to regulatory asset coverage [33] Q&A Session Summary Question: Pressure on LIBOR floors and interest rates - Management noted some pressure on LIBOR, particularly in the syndicated markets, with LIBOR floors generally between 75 bps to 100 bps [39] Question: Investment in WhiteHawk vehicle - Management expects deployment to ramp up to GACP-type levels in about 1.5 to 2 years [42] Question: Unsecured debt plans - Management is focused on their debt capital structure and is considering prepaying 2023 notes without penalty in January 2023 [46][47]