Daily News: June 10, 2014

TCP Capital Expands Credit Facility with Deutsche Bank

TCP Capital 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.

TCP said 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.

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