TCP Capital Expands Facility with Deutsche to $150MM
TCP Capital announced that it 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 facility expansion is effective March 15, 2014.
TCP Capital’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.”