Filed by FS Investment Corporation
pursuant to Rule 425 under the Securities Act of 1933
and deemed filed under Rule
14a-12
of the Securities Exchange Act of 1934
Subject Company: Corporate Capital Trust, Inc.
Commission File
No. 814-00827
On August 10, 2018, FS Investment Corporation (FSIC) held a conference call to discuss FSICs financial results for the quarter ended
June 30, 2018. The conference call contained information regarding FSICs proposed acquisition of Corporate Capital Trust, Inc. (CCT).
The following are excerpts from the transcript of FSICs August 10, 2018 conference call discussing FSICs proposed acquisition of CCT.
TODD BUILIONE:
Finally, we announced the merger of FSIC and CCT on July 23. We believe that merging these entities will provide business and
operational synergies in the near term as well as longer term, that will expand shareholder value, specifically through reductions in administrative costs, further expansion and diversification of the investment portfolio and the optimization of our
capital structure with lower borrowing costs. We recently filed a preliminary joint proxy statement with the SEC, hope to begin the proxy solicitation process in September, and expect to close before
year-end,
subject to shareholder approval and, of course, the satisfaction of other closing conditions.
Well continue to provide updates on these initiatives
in the coming months. With that, Ill turn the call over to Dan to discuss our portfolio activity during the quarter.
***
MIKE KELLY:
One final point on leverage. Our position with respect to incremental leverage has not changed from what we stated last quarter. And we are
pleased to note that S&P and Fitch affirmed FSICs investment-grade credit rating and stable outlook following the announcement of the merger.
***
TODD BUILIONE:
Thanks, Mike. We appreciate
everyones time this morning. Were excited by the benefits we believe this partnership is creating for our investors, and we remain relentlessly focused on delivering the BDC industrys premier platform. With that, well now
open the call up for questions.
***
FIN OSHEA:
Okay. Thank you. And then just to clear things up. There were, of course, a few regime changes on the fee structure surrounding the advisory merger. With the incentive fee, youre still at about 19.2% incentive fee on pre as a
percent of
pre-incentive
fee NII. Whats holding back the lookback of kicking in at this point? Is it starting from a low starting period? Or is there a delay in the lookback kicking in?
***