THL Credit will change its name, ticker, CUSIP and website in connection with the approval of a new advisory agreement between the company and First Eagle Alternative Credit, which was formerly known as THL Credit Advisors.
The approval of the new advisory agreement followed the transaction between the adviser and First Eagle Investment Management, (FEIM) that was consummated in Q1/20, whereby the adviser became a wholly-owned subsidiary of FEIM.
Specifically, the company is taking the following actions:
- Changing its name to First Eagle Alternative Capital BDC, effective Aug. 3
- Updating its ticker symbol with NASDAQ from TCRD to FCRD, effective Aug. 3
- Changing its CUSIP to 26943B100 effective immediately
- Changing its website from www.thlcreditbdc.com to www.feacbdc.com, effective Aug. 3
- Rebranding the company’s subsidiaries from THL Credit to First Eagle, including changing THL Credit Logan JV LLC to First Eagle Logan JV, LLC, effective Aug. 3
- Changing the ticker symbol with the New York Stock Exchange on its 6.75% notes due in 2022 from TCRZ to FCRZ, effective Aug. 3
- Changing the CUSIP on its 2022 notes to 26943BAB6 effective immediately
- Changing the ticker symbol with the New York Stock Exchange on its 6.125% notes due in 2023 from TCRW to FCRW, effective Aug. 3
- Changing the CUSIP on its 2023 notes to 26943BAA8 effective immediately
First Eagle Alternative Capital BDC is a closed-end investment company that has elected to be treated as a business development company under the Investment Company Act of 1940. The company’s investment objective is to generate both current income and capital appreciation, primarily through directly originated first lien secured loans, including unitranche investments.
First Eagle Alternative Credit is an alternative credit investment manager for both direct lending and broadly syndicated investments through public and private vehicles, collateralized loan obligations, separately managed accounts and commingled funds.