TCG BDC, Inc. Announces Stockholder Approval of the Asset Coverage Ratio Proposal and Other Results of its Annual Meeting of ...
June 07 2018 - 5:15PM
TCG BDC, Inc. (“TCG BDC” or the “Company”) (NASDAQ:CGBD) today
announced that, at the Company’s annual meeting of stockholders
held on June 6, 2018 (the “Annual Meeting”), its stockholders have
approved the application to the Company of the 150% minimum asset
coverage ratio set forth in Section 61(a)(2) of the Investment
Company Act of 1940, as amended (the “1940 Act”). As a
result, the minimum asset coverage ratio applicable to the Company
will be reduced from 200% to 150%, effective today.
Michael Hart, Chairman and CEO of TCG BDC,
shared the following: “We are appreciative of the overwhelming
support from our shareholders regarding the adoption of the revised
minimum asset coverage ratio. The reduced asset coverage
requirements provide immediate operational flexibility and present
a further opportunity to increase returns to our shareholders while
maintaining the same credit discipline and selectivity that we have
exercised since our Company’s inception. I would like to thank both
our Board and our Shareholders for each providing their support for
the asset coverage ratio proposal, as well as for their ongoing
support and long-term partnership.”
The Company also announced today that at its
Annual Meeting, Nigel D.T. Andrews and Eliot T.S. Merrill were
re-elected to the Company’s Board of Directors and stockholders
have ratified the selection of Ernst & Young LLP as the
Company’s independent registered public accounting firm for the
fiscal year ending December 31, 2018.
About TCG BDC,
Inc. TCG BDC is an externally
managed specialty finance company focused on lending to
middle-market companies. TCG BDC is managed by Carlyle
Global Credit Investment Management L.L.C.,
an SEC-registered investment adviser and a wholly owned
subsidiary of The Carlyle Group L.P. Since it commenced
investment operations in May 2013 through March 31,
2018, TCG BDC has invested approximately $3.8
billion in aggregate principal amount of debt and equity
investments prior to any subsequent exits or repayments. TCG BDC’s
investment objective is to generate current income and capital
appreciation primarily through debt investments in U.S. middle
market companies. TCG BDC has elected to be regulated as
a business development company under the Investment Company Act of
1940, as amended.
Web: tcgbdc.com
CAUTIONARY STATEMENT REGARDING
FORWARD-LOOKING STATEMENTS This press release may
contain forward-looking statements that involve substantial risks
and uncertainties. You can identify these statements by the use of
forward-looking terminology such as “anticipates,” “believes,”
“expects,” “intends,” “will,” “should,” “may,” “plans,” “continue,”
“believes,” “seeks,” “estimates,” “would,” “could,” “targets,”
“projects,” “outlook,” “potential,” “predicts” and variations of
these words and similar expressions to identify forward-looking
statements, although not all forward-looking statements include
these words. You should read statements that contain these words
carefully because they discuss our plans, strategies, prospects and
expectations concerning our business, operating results, financial
condition and other similar matters. We believe that it is
important to communicate our future expectations to our investors.
There may be events in the future, however, that we are not able to
predict accurately or control. You should not place undue reliance
on these forward-looking statements, which speak only as of the
date on which we make it. Factors or events that could cause our
actual results to differ, possibly materially from our
expectations, include, but are not limited to, the risks,
uncertainties and other factors we identify in the sections
entitled “Risk Factors” and “Cautionary Statement Regarding
Forward-Looking Statements” in filings we make with
the Securities and Exchange Commission, and it is not possible
for us to predict or identify all of them. We undertake no
obligation to update or revise publicly any forward-looking
statements, whether as a result of new information, future events
or otherwise, except as required by law.
Contacts:
Investors: |
Media: |
Daniel Harris |
Elizabeth Gill |
+1-212-813-4527 |
202-729-5385 |
daniel.harris@carlyle.com |
elizabeth.gill@carlyle.com |
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