SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
Pursuant to section 13 or 15(d)
of the Securities Exchange Act of 1934
Date of Report (Date of Earliest Event Reported): November 22, 2021
FIRST EAGLE ALTERNATIVE CAPITAL BDC, INC.
(Exact name of registrant as specified in its charter)
(State or other jurisdiction of
incorporation or organization)
500 Boylston St., Suite 1200,
Boston, MA 02116
(Address of principal executive offices)
Registrants telephone number, including area code (800) 450-4424
Securities registered pursuant to Section 12(b) of the Act:
Title of each class
Name of Each Exchange
|Common stock, par value $0.001 per share||FCRD||NASDAQ Global Select Market|
|6.125% Senior Notes due 2023||FCRW||The New York Stock Exchange|
|5.00% Senior Notes due 2023||FCRX||The New York Stock Exchange|
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).
Emerging growth company ☐
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐
Item 8.01. Other Events.
On November 22, 2021, First Eagle Alternative Capital BDC, Inc. (the Company) notified U.S. Bank National Association, the trustee (the Trustee) for the Companys 6.125% Senior Notes due 2023 (the Notes), of the Companys election to redeem the $51,607,250 aggregate principal amount of the Notes outstanding at a price of $25 per security (equal to 100% of the principal amount of the Notes) plus accrued and unpaid interest on the Notes to, but excluding, the date of redemption, and instructed the Trustee to provide notice of such redemption to the holders of the Notes in accordance with the terms of the indenture governing the Notes. The Company expects the redemption to be completed on December 21, 2021. Following the redemption, none of the Notes will remain outstanding, and they will be delisted from The New York Stock Exchange. This Current Report on Form 8-K does not constitute a notice of redemption of the Notes.
On November 23, 2021, the Company issued a press release that announced the redemption of the Notes. A copy of the press release is filed as Exhibit 99.1 to this report on Form 8-K and is incorporated herein by reference.
Item 9.01. Financial Statements and Exhibits.
|99.1||Press Release of First Eagle Alternative Capital BDC, Inc., dated November 23, 2021|
Pursuant to the requirements of the Securities Exchange Act of 1934, as amended, the Registrant has duly caused this Current Report on Form 8-K to be signed on its behalf by the undersigned hereunto duly authorized.
|FIRST EAGLE ALTERNATIVE CAPITAL BDC, INC.|
|Date: November 23, 2021||By:|
|Title:||Chief Accounting Officer|
First Eagle Alternative Capital BDC Announces
Redemption of 6.125% Notes due 2023
BOSTON November 23, 2021 First Eagle Alternative Capital BDC, Inc. (NASDAQ: FCRD) (First Eagle Alternative Capital BDC or the Company), a direct lender to middle market companies, today announced that it will redeem all of its outstanding 6.125% Notes due 2023 (the 2023 Notes), at a redemption price of 100% of the outstanding principal amount of the 2023 Notes, plus accrued and unpaid interest to, but excluding, the date of redemption, December 21, 2021, of approximately $0.35 on each $25 principal amount if redeemed on December 21, 2021.
The 2023 Notes are currently traded on the New York Stock Exchange under the symbol FCRW (CUSIP No. 26943B 209).
As specified in the notice of redemption relating to the redemption of the 2023 Notes, payment of the redemption price will be made upon the presentation and surrender of the 2023 Notes for redemption to the paying agent, U.S. Bank, Corporate Trust Services, by hand or mail (including overnight mail) at 111 Fillmore Avenue E, St. Paul, MN 55107.
About First Eagle Alternative Capital BDC, Inc.
First Eagle Alternative Capital BDC, Inc. (NASDAQ: FCRD) is a closed-end management investment company that has elected to be treated as a business development company under the 1940 Act. The Companys investment objective is to generate both current income and capital appreciation, primarily through investments in privately negotiated debt and equity securities of middle market companies. The Company is a direct lender to middle market companies and invests primarily in directly originated first lien senior secured loans, including unitranche investments. In certain instances, the Company also makes second lien secured loans and subordinated or mezzanine, debt investments, which may include an associated equity component such as warrants, preferred stock or other similar securities and direct equity co-investments. The Company targets investments primarily in middle market companies with annual EBITDA generally between $5 million and $25 million. The Company is headquartered in Boston, with additional origination teams in Chicago, Dallas, Los Angeles and New York. The Companys investment activities are managed by First Eagle Alternative Credit, LLC, an investment adviser registered under the Investment Advisers Act of 1940.
Statements made in this press release may constitute forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Such statements reflect various assumptions by the Company concerning anticipated results and are not guarantees of future performance. These statements can be identified by the use of words such as outlook, believes, expects, potential, continues, may, will, should, seeks, approximately, predicts, intends, plans, estimates, anticipates or the negative version of these words or other comparable words. These statements include but are not limited to, projected financial performance, expected development of the business, anticipated share repurchases or lack thereof, plans and expectations about future investments, plans and expectations concerning future offerings by the Company, including any tender offers, anticipated dividends and the future liquidity of the company. The accuracy of such statements involves known and unknown risks, uncertainties and other factors that, in some ways, are beyond managements control, including the risk factors described from time to time in filings by the Company with the Securities and Exchange Commission (the SEC). Such factors include: the introduction, withdrawal, success and timing of business initiatives and strategies; changes in political, economic or industry conditions, the impact of COVID-19 and the availability of effective vaccines, the interest rate environment or financial and capital markets, which could result in changes in the value of our assets; the relative and absolute investment performance and operations of our investment adviser; the impact of increased competition; the impact of future acquisitions and divestitures; the unfavorable resolution of legal proceedings; our business prospects and the prospects of our portfolio companies; the impact, extent and timing of technological changes and the adequacy of intellectual property protection; the impact of legislative and regulatory actions and reforms and regulatory, supervisory or enforcement actions of government agencies relating to us or the Advisor; the ability of the Advisor to identify suitable investments for us and to monitor and administer our investments; our contractual arrangements and relationships with third parties; any future financings by us; the ability of the Advisor to attract and retain highly talented professionals; fluctuations in foreign currency exchange rates; the impact of changes to tax legislation and, generally, our tax position; our ability to exit a control investment in a timely manner; and the ability to fund Logan JVs unfunded commitments to the extent approved by each member of the Logan JV investment committee.
The Company undertakes no duty to update any forward-looking statements made herein. All forward-looking statements speak only as of the date of this press release.
First Eagle Alternative Credit, LLC
C. Leigh Crosby (212) 829-3105
Stanton Public Relations and Marketing, LLC