News Column

TCP Capital Corp. Announces Private Offering Of Convertible Senior Notes Due 2019

June 28, 2014

By a News Reporter-Staff News Editor at Investment Weekly News -- TCP Capital Corp. (NASDAQ: TCPC) (the "Company") announced that it intends to privately offer, subject to market and other conditions, $100 million in aggregate principal amount of convertible senior unsecured notes due 2019 (the "Notes"). In addition, the Company expects to grant the initial purchasers of the Notes an option to purchase up to an additional $15 million in aggregate principal amount of the Notes to cover overallotments. The Notes will be offered in a private placement only to qualified institutional buyers pursuant to Rule 144A under the Securities Act of 1933, as amended (the "Securities Act").

The Notes will mature on December 15, 2019, unless previously converted in accordance with their terms. The Notes will be convertible under specified circumstances based on a conversion rate to be determined. The Company will pay or deliver, subject to the terms of the documents governing the Notes, cash, shares of the Company's common stock or a combination of cash and shares of common stock, at the Company's election. The interest rate, the conversion rate and other terms of the Notes will be determined at the time of pricing of the private offering.

The Company intends to use the net proceeds of this offering to repay amounts outstanding under its revolving credit facilities (which will increase the funds under the revolving credit facilities available to the Company to make additional investments in portfolio companies) and to make investments in portfolio companies in accordance with its investment objective and for other general corporate purposes, including payment of operating expenses.

The Notes and the shares of common stock underlying the Notes have not been registered under the Securities Act, or any applicable state securities laws. Unless so registered, the Notes may not be offered or sold in the United States except pursuant to an exemption from the registration requirements of the Securities Act and applicable state securities laws.

This press release shall not constitute an offer to sell or the solicitation of an offer to buy the Notes, nor shall there be any sale of these securities, in any state in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any state. This press release is being issued pursuant to and in accordance with Rule 135c under the Securities Act.

Keywords for this news article include: TCP Capital Corp, Investment Companies, Investment and Finance.

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Source: Investment Weekly News

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