TCP Capital Corp., a business development company, announced that, through its indirect, wholly-owned subsidiary, TCPC Funding I, LLC, it has secured a new $50 million revolving credit facility from Deutsche Bank AG. The credit facility, which matures on May 15, 2016, contains an accordion feature which allows for expansion of the facility up to $100 million, subject to consent from Deutsche Bank AG and other customary conditions. Borrowings under the credit facility will bear interest at a rate of LIBOR plus 2.75% per annum. The new credit facility provides additional leverage to TCPC Capital Corp., beyond its existing $250 million consolidated leverage facility.
 
TCP Capital Corp.'s Chairman and CEO Howard Levkowitz stated, “We are extremely pleased to have obtained this new and highly attractive three-year credit facility. It provides us with the access to capital and the flexibility we need to capitalize on the robust pipeline of investment opportunities we are seeing across a wide variety of industries.”

TCP Capital Corp is an externally-managed specialty finance company focused on performing credit lending to middle-market companies with established market positions. TCPC focuses on companies with differentiated products and strong regional or national operations and where it has deep industry knowledge and expertise. TCPC’s investment objective is to seek to achieve high total returns through current income and capital appreciation, with an emphasis on principal protection. TCPC is a publicly-traded business development company, or BDC, regulated under the Investment Company Act of 1940 and is externally managed by its advisor, Tennenbaum Capital Partners, LLC, a leading alternative investment manager.