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BlackRock TCP Capital Corp. Prices $175,000,000 of 2.850% Notes Due 2026
SANTA MONICA, Calif.--(BUSINESS WIRE)-- BlackRock TCP Capital Corp. (NASDAQ: TCPC) (“TCPC” or the “Company”) announced today the pricing of $175,000,000 in
About this update from Blackrock Tcp Capital Corp.
[{"type":"text","content":" SANTA MONICA, Calif.--(BUSINESS WIRE)--\nBlackRock TCP Capital Corp. (NASDAQ: TCPC) (“TCPC” or the “Company”) announced today the pricing of $175,000,000 in aggregate principal amount of 2.850% notes due 2026 (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 February 9, 2021.\n\nThe Notes bear interest at a rate of 2.850% per year, payable semiannually and will mature on February 9, 2026 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.\n\nThe Company intends to use the net proceeds from this offering to repay amounts outstanding under its credit facilities and for other general corporate purposes, including payment of operating expenses. The repayment of amounts outstanding under its credit facilities will increase the available funds under the credit facilities which the Company may use for a variety of purposes including: (i) making additional investments in portfolio companies in accordance with its investment objective and (ii) retiring other outstanding debt securities.\n\nBofA Securities, Inc., Morgan Stanley & Co. LLC, SMBC Nikko Securities America, Inc., ING Financial Markets LLC, MUFG Securities Americas Inc., RBC Capital Markets, LLC, R. Seelaus & Co., LLC and Fifth Third Securities, Inc. are acting as joint book-running managers. Goldman Sachs & Co. LLC, Raymond James & Associates, Inc. and JMP Securities LLC are acting as co-managers.\n\nInvestors are advised to carefully consider the investment objective, risks, charges and expenses of TCPC before investing. The preliminary prospectus supplement dated February 2, 2021 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.\n\nThe information in the preliminary prospectus supplement, the accompanying...