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TCP Capital Expands Credit Facility With Deutsche Bank to $200MM

June 10, 2014, 07:23 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 $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."

TCP Capital Corp. is a specialty finance company focused on performing credit lending to middle-market companies with established market positions as well as small businesses. TCPC focuses on companies with differentiated products and strong regional or national operations and where it has deep industry knowledge and expertise. TCPC's investment objective is to seek to achieve high total returns through current income and capital appreciation, with an emphasis on principal protection. TCPC is a publicly-traded business development company, or BDC, regulated under the Investment Company Act of 1940 and is externally managed by its advisor, Tennenbaum Capital Partners, LLC, a leading alternative investment manager.

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