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TCP Capital Expands Credit Facility with Deutsche Bank to $150MM

February 24, 2014, 07:28 AM
Filed Under: Lender Finance

TCP Capital Corp., a business development company, announced that it has amended its revolving credit facility with Deutsche Bank AG to extend the maturity date from May 15, 2016 to May 15, 2017 and expand the credit facility from $100 million to $150 million. The interest rate under the credit facility was reduced from a rate of LIBOR plus 2.75% per annum to a rate of LIBOR plus 2.50% per annum, subject to certain minimum draw requirements. The credit facility expansion is effective March 15, 2014. 

TCP Capital Corp.'s Chairman and CEO Howard Levkowitz stated, "We are extremely pleased to amend this credit facility on attractive terms. By expanding this facility, we can tap additional capital to take advantage of middle-market investment opportunities we are seeing across a diverse range of industries."

TCP Capital is a specialty finance company focused on performing credit lending to middle-market companies with established market positions. TCP Capital 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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