TICC Funding, a special purpose vehicle and wholly-owned subsidiary of TICC Capital, has repaid in full its $150 million of outstanding borrowings under its revolving credit facility with Citibank and has unilaterally terminated the facility as of December 31, 2015 in accordance with its terms.

The facility was scheduled to mature on October 27, 2017. This repayment is consistent with TICC’s current strategy.

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

TICC Capital is a business development company principally engaged in providing capital to established businesses, investing in syndicated bank loans and purchasing debt and equity tranches of collateralized loan obligations.