Daily News: September 12, 2013

TCP Capital Expands Revolver With Deutsche Bank

TCP Capital, a business development company, announced that it expanded its revolver with Deutsche Bank AG from $50 million to $100 million.

The accordion feature of the credit facility was also expanded up to $200 million. The credit facility matures on May 15, 2016, and borrowings under the credit facility bear interest at a rate of LIBOR plus 2.75% per annum.

TCP Capital chairman and CEO Howard Levkowitz said, “We are extremely pleased to be able to exercise the accordion feature of our highly attractive three-year credit facility. 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.”