BlackRock TCP Capital (TCPC) and BlackRock Capital Investment Corporation (BCIC)’s business development company shareholders voted to approve the necessary proposals related to the merger of TCPC and BCIC.
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.