Item 3.03 Material Modification to Rights of Security Holders
The information contained in the Introductory Note and Item 3.01 is incorporated herein by reference.
Assumption of InterNotes
Effective as of the closing of the First Merger, Alcentra BDC entered into the Nineteenth Supplemental Indenture (the Nineteenth
Supplemental Indenture) by and among Crescent BDC, Alcentra BDC and U.S. Bank National Association, as trustee (the Trustee), relating to the assumption of all of the outstanding series of Alcentra BDCs $50.3 million in
aggregate principal amount of unsecured notes (the Alcentra Capital InterNotes®). Pursuant to the Nineteenth Supplemental Indenture, Crescent BDC expressly assumed the due and
punctual payment of the principal of (and premium, if any) and interest, if any, on all outstanding Alcentra Capital InterNotes® and the performance of Alcentra BDCs covenants under
the existing indenture (as may be amended or supplemented from time to time).
The foregoing description of the Alcentra Capital
InterNotes® does not purport to be complete and is qualified in its entirety by reference to the Indenture dated as of January 30, 2015 between Alcentra BDC and the Trustee, the First
Supplemental Indenture, dated as of January 30, 2015, providing for the issuance of Alcentra BDCs 6.500% Notes due 2022, the Seventh Supplemental Indenture, dated as of April 2, 2015, providing for the issuance of Alcentra BDCs
6.750% Notes due 2022, the Eighth Supplemental Indenture, dated as of April 15, 2015, providing for the issuance of Alcentra BDCs 6.250% Notes due 2020, the Ninth Supplemental Indenture, dated as of April 15, 2015, providing for the
issuance of Alcentra BDCs 6.500% Notes due 2020, the Tenth Supplemental Indenture, dated as of February 4, 2016, providing for the issuance of Alcentra BDCs 6.500% Notes due 2021, the Eleventh Supplemental Indenture, dated as of
February 11, 2016, providing for the issuance of Alcentra BDCs 6.500% Notes due 2021, the Twelfth Supplemental Indenture, dated as of February 19, 2016, providing for the issuance of Alcentra BDCs 6.500% Notes due 2021, the
Thirteenth Supplemental Indenture, dated as of June 9, 2016, providing for the issuance of Alcentra BDCs 6.375% Notes due 2021, the Fourteenth Supplemental Indenture, dated as of June 16, 2016, providing for the issuance of Alcentra
BDCs 6.375% Notes due 2021, the Fifteenth Supplemental Indenture, dated as of June 23, 2016, providing for the issuance of Alcentra BDCs 6.375% Notes due 2021, the Sixteenth Supplemental Indenture, dated as of June 30, 2016,
providing for the issuance of Alcentra BDCs 6.375% Notes due 2021, the Seventeenth Supplemental Indenture, dated as of July 8, 2016, providing for the issuance of Alcentra BDCs 6.250% Notes due 2021, the Eighteenth Supplemental
Indenture, dated as of July 14, 2016, providing for the issuance of Alcentra BDCs 6.250% Notes due 2021 and the Nineteenth Supplemental Indenture, dated as of January 31, 2020, relating to the assumption of the Alcentra Capital
InterNotes®, copies of which, including the forms of notes related thereto, are attached as Exhibits 4.1 through 4.29 to this Form 8-K and are
incorporated herein by reference.