BlackRock TCP Capital extended its SVCP credit facility by two years to May 6, 2026. Other amendments to the facility terms include a reduction in the stated interest rate to LIBOR plus 1.75%. ING Capital is leading the facility, which includes a total of seven bank participants.
BlackRock TCP Capital, a business development company, reported net investment income for the quarter ended June 30, 2020 of $21.1 million. In addition, Andrea Petro was appointed to the board of directors as Brian Wruble retired.
A syndicate of seven banks led by ING Capital extended BlackRock TCP Capital’s SVCP revolving 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.