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BlackRock TCP Capital Corp. Prices $150,000,000 Of 3.9% Notes Due 2024
SANTA MONICA, Calif., Aug. 16, 2019 /PRNewswire/ -- BlackRock TCP Capital Corp. (NASDAQ: TCPC) ("TCPC" or the "Company") announced today the pricing of
About this update from Blackrock Tcp Capital Corp.
[{"type":"text","content":"SANTA MONICA, Calif., Aug. 16, 2019 /PRNewswire/ -- BlackRock TCP Capital Corp. (NASDAQ: TCPC) (\"TCPC\" or the \"Company\") announced today the pricing of $150,000,000 in aggregate principal amount of 3.9% notes due 2024 (the \"Notes\"). The closing of the transaction is subject to customary closing conditions and the Notes are expected to be delivered and paid for on August 23, 2019. \nThe Notes bear interest at a rate of 3.9% per year, payable semiannually and will mature on August 23, 2024 and may be redeemed in whole or in part at the Company's option at any time at par plus a \"make whole\" premium, if applicable. The Notes will be direct unsecured obligations of the Company and rank equally in right of payment with all outstanding and future unsecured senior indebtedness issued by the Company. The Notes will be structurally subordinated to the debt of any of the Company's subsidiaries and effectively subordinated to all of the Company's outstanding and future secured indebtedness.\nThe Company intends to use the net proceeds from this offering to repay amounts outstanding under its credit facilities (which will increase the funds under the credit facilities available to the Company to make additional investments in portfolio companies in accordance with its investment objective) and for other general corporate purposes, including payment of operating expenses. \nBofA Securities, Inc. is acting as book running manager for this offering. Wells Fargo Securities, LLC; Deutsche Bank Securities Inc.; Raymond James & Associates, Inc.; Keefe, Bruyette & Woods, Inc.; ING Financial Markets LLC; Capital One Securities, Inc.; Oppenheimer & Co. Inc. and SMBC Nikko Securities America, Inc. are acting as bookrunners. \nInvestors are advised to carefully consider the investment objective, risks, charges and expenses of TCPC before investing. The preliminary prospectus supplement dated August 16, 2019 and the accompanying prospectus dated August 16, 2019, which have been filed with the SEC, contain this and other information about TCPC and should be read carefully before investing. \nThe information in the preliminary prospectus supplement, the accompanying prospectus and this press release is not complete and may be changed. The preliminary prospectus supplement, the accompanying prospectus and this press release are not offe...