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TCP Capital Expands Credit Facility With Deutsche Bank to $100MM

September 11, 2013, 07:31 AM
Filed Under: Lender Finance

TCP Capital Corp., a business development company, announced that it has expanded its revolving credit facility with Deutsche Bank AG from $50 million to $100 million. The accordion feature of the credit facility was also expanded up to $200 million. The credit facility matures on May 15, 2016 and borrowings under the credit facility bear interest at a rate of LIBOR plus 2.75% per annum.

TCP Capital Corp.'s Chairman and CEO Howard Levkowitz stated, "We are extremely pleased to be able to exercise the accordion feature of our highly attractive three-year credit facility. This expanded facility provides us with access to additional capital, enabling us to take advantage of the pipeline of investment opportunities we are seeing across a wide variety of industries."

TCP Capital Corp. is a specialty finance company focused on performing credit lending to middle-market companies with established market positions. TCPC focuses on companies with differentiated products and strong regional or national operations and where it has deep industry knowledge and expertise.

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