TCP Capital lifts revolving credit facility due 2016 to $100 million

By Susanna Moon

Chicago, Sept. 10 - TCP Capital Corp. expanded its revolving credit facility due May 15, 2016 to $100 million from $50 million on Tuesday.

Deutsch Bank AG, New York Branch is the administrative agent.

Interest on the loans is Libor plus 275 basis points.

The accordion feature was also expanded up to an aggregate of $200 million, with the consent of the administrative agent, according to an 8-K filing with the Securities and Exchange Commission.

"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. chairman and chief executive officer Howard Levkowitz said in a company press release.

Santa Monica, Calif.-based Tennenbaum Capital Partners, LLC is the investment adviser.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.