BlackRock TCP Capital Corp subsidiary amends $200M credit facility, extends maturity to 2027

BlackRock TCP Capital Corp.

Revolving credit facility amended; maturity extended to August 4, 2027.
Interest rate adjusted to SOFR+2.05% from 2.00% during revolving period.
Fifth Third Bank exits; its $17.5M advances and fees assigned to Morgan Stanley.
One-time waiver allows early application of funds on August 4, 2023.

Key facts

Extracted from this filing and checked against the source text.

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

BlackRock TCP Capital Corp. amended Waiver and Fifth Amendment to the Loan and Servicing Agreement with Morgan Stanley Asset Funding Inc., as administrative agent and Morgan Stanley Bank, N.A. and City National Bank, as lenders valued at $200 million (effective 2023-08-04).

Action: amendment
Agreement: credit facility
Counterparty: Morgan Stanley Asset Funding Inc., as administrative agent and Morgan Stanley Bank, N.A. and City National Bank, as lenders
Value: $200 million
Effective: 2023-08-04

Exact text from the filing

On August 4, 2023, TCPC Funding II, LLC, a Delaware limited liability company (the “Portfolio Holdco”) that is a wholly owned subsidiary of BlackRock TCP Capital Corp. (“TCPC” or the “Company”), entered into a Waiver and Fifth Amendment to the Loan and Servicing Agreement (the “Amendment”) among the Portfolio Holdco, as borrower, Special Value Continuation Partners LLC, as servicer, Morgan Stanley Asset Funding Inc., as administrative agent and Morgan Stanley Bank, N.A. and City National Bank, as lenders.

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BlackRock TCP Capital Corp. filing history →

Source: SEC EDGAR

accession 0001140361-23-038476

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