AP NEWS

Corporate Capital Trust, Inc. Reports Third Quarter 2018 Results

November 7, 2018

SAN FRANCISCO--(BUSINESS WIRE)--Nov 7, 2018--Corporate Capital Trust, Inc. (NYSE:CCT), a leading business development company, announced its operating results for the quarter ended September 30, 2018.

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Financial Highlights for the Quarter Ended September 30, 2018

Pro forma net investment income of $49.3 million, or $0.40 per share, as compared to $50.3 million, or $0.40 per share, for the prior quarter 1 Net investment income of $43.8 million, or $0.35 per share, as compared to $49.4 million, or $0.39 per share, for the prior quarter Net realized and unrealized losses on investments of $12.4 million, or $0.10 per share, resulting from $13.0 million of net unrealized gains and $25.4 million of net realized losses. This compares to net realized and unrealized losses on investments of $11.4 million, or $0.09 per share, for the prior quarter Paid regular cash dividends to stockholders totaling $0.402 per share Net asset value of $19.44 per share, compared to $19.58 as of June 30, 2018

“This year, we’ve continued to focus on serving the needs of our borrowers and sourcing attractive new investment opportunities, which in turn has allowed us to deliver a competitive and stable dividend while preserving capital for our stockholders,” said Todd Builione, President of CCT. “Additionally, we are pleased with the progress we’ve made since announcing the formation of the partnership between FS Investments and KKR. Completing the merger with FSIC, efficiently leveraging our lower cost revolving credit facility and maintaining a robust origination pipeline will position us well to deliver consistent long-term performance.”

Announcement of Expected Dividend for Fourth Quarter 2018

CCT expects to declare a fourth quarter dividend of at least $0.40 per share, subject to approval by the board of directors. Assuming the merger with FSIC closes in Q4 following satisfaction of all conditions, the final size of the dividend will also be designed to distribute any undistributed taxable income and net realized capital gains.

Summary Consolidated Results 2

Portfolio Highlights as of September 30, 2018

Total fair value of investments was $4.1 billion New investment fundings for the quarter were $279 million. At September 30, 2018, 82.8% of total investments at fair market value were in Originated Strategy Investments 3 Average annual yield on debt investments was 10.4% 4 74% of investments in senior secured debt, compared to 75% as of June 30, 2018

Total Portfolio Activity

Funding and Liquidity Management as of September 30, 2018

Debt to equity ratio of 0.75x, based on $1.82 billion in total debt outstanding and net asset value of $2.41 billion. CCT’s weighted average stated interest rate was 4.37%. Cash and cash equivalents of approximately $148.7 million and availability under its financing arrangements of $471 million, subject to borrowing base and other limitations.

Conference Call Information

A conference call to discuss CCT’s financial results will be held on Thursday, November 8, 2018 at 11:00 a.m. ET. The conference call may be accessed by dialing (833) 818-6808 (U.S. callers) or +1 (409) 350-3502 (non-U.S. callers); a passcode is not required. Additionally, the conference call will be broadcast live over the Internet and may be accessed through the Investor Relations section of CCT’s website at http://corporatecapitaltrust.com/investor-relations/events-presentations/.

A replay of the call will be available on CCT’s website or by dialing (855) 859-2056 (U.S. callers) or +1 (404) 537-3406 (non-U.S. callers), pass code 4989618, beginning approximately two hours after the broadcast.

Supplemental Information

An investor presentation of financial information will be made available prior to the call in the Investor Relations section of CCT’s website at http://corporatecapitaltrust.com/investor-relations/events-presentations/ under Events & Presentations.

About Corporate Capital Trust

Corporate Capital Trust is a business development company that provides investors an opportunity to access middle market direct lending investments. The Company is externally managed by FS/KKR Advisor, LLC, and its investment objective is to provide shareholders with current income and, to a lesser extent, long-term capital appreciation. The Company intends to meet its investment objective by investing primarily in the debt of privately owned companies, with a focus on originated transactions. For additional information, please visit www.corporatecapitaltrust.com.

About FS/KKR Advisor, LLC

FS/KKR Advisor, LLC (“FS/KKR”) is a partnership between FS Investments and KKR Credit that serves as the investment adviser to six BDCs, including FS Investment Corporation, FS Investment Corporation II, FS Investment Corporation III, FS Investment Corporation IV, Corporate Capital Trust, Inc. and Corporate Capital Trust II.

FS/KKR seeks to leverage the size of its platform, differentiated origination capabilities and expertise in capital markets to maximize returns and preserve capital for investors.

FS Investments is a leading asset manager dedicated to helping individuals, financial professionals and institutions design better portfolios. The firm provides access to alternative sources of income and growth and focuses on setting industry standards for investor protection, education and transparency. FS Investments is headquartered in Philadelphia, PA with offices in New York, NY, Orlando, FL and Washington, DC. Visit www.fsinvestments.com to learn more.

KKR Credit is a subsidiary of KKR & Co. Inc., a leading global investment firm that manages multiple alternative asset classes, including private equity, energy, infrastructure, real estate and credit, with strategic manager partnerships that manage hedge funds. KKR aims to generate attractive investment returns for its fund investors by following a patient and disciplined investment approach, employing world-class people, and driving growth and value creation with KKR portfolio companies. KKR invests its own capital alongside the capital it manages for fund investors and provides financing solutions and investment opportunities through its capital markets business. References to KKR’s investments may include the activities of its sponsored funds. For additional information about KKR & Co. Inc. (NYSE: KKR), please visit KKR’s website at www.kkr.com and on Twitter @KKR_Co.

Forward-Looking Statements

The information in this press release may include “forward-looking statements.” These statements are based on the beliefs and assumptions of the Company’s management and on the information currently available to management at the time of such statements. Forward-looking statements generally can be identified by the words “believes,” “expects,” “intends,” “plans,” “estimates” or similar expressions that indicate future events. Important factors that could cause actual results to differ materially from the Company’s expectations include the factors disclosed in the Company’s filings with the SEC, including the Company’s annual report on Form 10-K for the year ended December 31, 2017, which was filed with the SEC on March 14, 2018. The Company undertakes no obligation to update such statements to reflect subsequent events.

Other Information

The information in this press release is summary information only and should be read in conjunction with CCT’s quarterly report on Form 10-Q for the quarterly period ended September 30, 2018, which CCT filed with the U.S. Securities and Exchange Commission (the “SEC”) on November 8, 2018, as well as CCT’s other reports filed with the SEC. A copy of CCT’s quarterly report on Form 10-Q for the quarterly period ended September 30, 2018 and CCT’s other reports filed with the SEC can be found on CCT’s website at and the SEC’s website at .

View source version on businesswire.com:https://www.businesswire.com/news/home/20181107005829/en/

CONTACT: Corporate Capital Trust, Inc.

Media

Kristi Huller or Cara Major

media@kkr.com

or

Investor Relations

Danny McMahon

CCT-IR@kkr.com

KEYWORD: UNITED STATES NORTH AMERICA CALIFORNIA

INDUSTRY KEYWORD: PROFESSIONAL SERVICES BANKING FINANCE

SOURCE: Corporate Capital Trust, Inc.

Copyright Business Wire 2018.

PUB: 11/07/2018 04:15 PM/DISC: 11/07/2018 04:15 PM

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