TICC Capital repays $150 million under revolver, cancels facility

By Marisa Wong

Morgantown, W.Va., Jan. 4 – TICC Capital Corp. repaid in full the $150 million of outstanding borrowings under its revolving credit facility with Citibank NA, according to an 8-K filing with the Securities and Exchange Commission.

The company terminated the facility as of Dec. 31.

In connection with the early repayment and termination, the company was required to pay a prepayment fee equal to $562,500 and aggregate breakage and administrative fees of about $10,900.

The facility had been scheduled to mature on Oct. 27, 2017.

Pricing under the revolver was based on Libor plus a spread of 150 basis points.

TICC is a business development company focused on small and mid-size companies and is based in Greenwich, Conn.

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