News Column

TCP Capital Corp. Expands Credit Facility with Deutsche Bank AG to $200 Million

June 28, 2014

By a News Reporter-Staff News Editor at Investment Weekly News -- TCP Capital Corp. ("we," "us," "our," "TCPC" or the "Company"), a business development company ("BDC") (NASDAQ: TCPC), announced that it has expanded its revolving credit facility with Deutsche Bank AG from $150 million to $200 million. The accordion feature is also expanded up to an aggregate of $250 million. The credit facility matures on May 15, 2017 and borrowings under the credit facility bear interest at a rate of LIBOR plus 2.50% per annum, subject to certain minimum draw requirements. The credit facility expansion is effective June 9, 2014.

TCP Capital Corp.'s Chairman and CEO Howard Levkowitz stated, "We are extremely pleased to be able to exercise the accordion feature of our TCPC Funding credit facility. By expanding this facility, we can access additional capital to take advantage of investment opportunities we are seeing across a diverse range of industries."

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

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Source: Investment Weekly News

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