Crescent Capital Bdc, Inc. · NASDAQ:CCAP
Crescent Capital Bdc — Merger or Acquisition (August 2019)
12 slides from Crescent Capital Bdc's merger presentation, Aug 13, 2019
Slide 1: Strategic Acquisition of Alcentra Capital Corp.
CRESCENT Crescent Capital BDC, Inc. Strategic Acquisition of Alcentra Capital Corp. Investor Presentation August 13, 2019
Slide 2: Important Notices
Important Notices The information in this presentation is for informational purposes only and shall not constitute an offer to sell or the solicitation of an offer to sell or the solicitation of an offer to buy any securities or the solicitation of any vote or approval in any jurisdiction pursuant t
Slide 3: Transaction Rationale
Transaction Rationale = We believe that the combination of Crescent Capital BDC, Inc. (“CCAP”) and Alcentra Capital Corporation (“ABDC”) provides significant immediate and long-term value for all shareholders |_| C RE 5 Cc E N T Alcentra Capital Corporation Crescent Capital BDC, Inc. a . Establishes
Slide 4: Estimated total consideration to be received at closing
― ― | (1) Estimated total consideration to be received at closing after taking into account certain post-closing adjustments. (2) Less certain tax dividends expected to be declared by ABDC after the date of the Merger Agreement.
Slide 5: Manager Alignment & Structural Enhancements
Manager Alignment & Structural Enhancements We are committed to establishing a best-in-class public BDC and have developed a comprehensive support plan to align incentives with shareholders Best-in-Class Fee Structure Permanently reduced 1.25% base management fee 17.5% incentive fee over a 7.0% hurd
Slide 6: Estimated consideration to be received at closing
| (1) Estimated consideration to be received at closing after taking into account certain post-closing adjustments. The total value of the consideration to be received at closing is variable and may be different than the estimated total consideration described herein depending on a number of factors
Slide 7: Estimated consideration to be received at closing
| (1) Estimated consideration to be received at closing after taking into account certain post-closing adjustments. The total value of the consideration to be received at closing is variable and may be different than the estimated total consideration described herein depending on a number of factors
Slide 8: Book value and fair value comparison as of June 30, 2019
| (1) Based on book value of equity as of June 30, 2019. (2) Based on respective fair value of investments as of June 30, 2019.
Slide 9: Crescent platform AUM as of June 30, 2019
• • • • • • • • • • • • • • | (1) AUM as of June 30, 2019 Past performance is not a guarantee of future results.
Slide 10: Crescent private credit strengths and track record
1• Market presence and relationships 2• Robust, proprietary sourcing 3• Disciplined investment approach 4• Experience across multiple cycles 5• Over 25-year track record | Past performance is not indicative of future results. As used here, Private Credit refers to Crescent’s experience in the asset
Slide 11: Sourcing and transactions reviewed
With over At least one debt Completed multiple Approximately financing with over transactions with over 10,100 900 unique private equity 200 70 transactions reviewed firms unique sponsors unique sponsors | Past performance is not indicative of future results. Includes investment opportunities from C
Slide 12: Certain Risk Factors
Certain Risk Factors Nature of Debt Securities. Debt and structured equity investments in highly leveraged companies involve a high degree of risk with no certainty of any return of capital. The debt securities in which Crescent Funds and strategies (“Crescent Funds") and ABDC invest may be unsecure
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