A syndicate of seven banks led by ING Capital extended BlackRock TCP Capital’s SVCP credit facility by one year to May 6, 2024. The size of the facility remains $270 million, and the pricing and advance rates were unchanged.

“We are pleased to announce this extension of our SVCP credit facility, which further enhances our flexible and diverse leverage program that includes two low-cost credit facilities, one convertible note issuance, two unsecured note issuances and an SBA program,” Howard Levkowitz, chairman and CEO of BlackRock TCP Capital, said. “We truly value our long-term relationships with our bank lending partners, particularly in the current environment.”

BlackRock TCP Capital is a specialty finance company focused on direct lending to middle-market companies as well as small businesses.