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BlackRock TCP Capital Corp. (TCPC) just unveiled an update.
On March 18, 2024, BlackRock TCP Capital Corp. successfully assumed the obligations of a substantial credit facility and note purchase agreement following its acquisition of BlackRock Capital Investment Corporation (BCIC). The credit facility, with a commitment of up to $325 million and maturing in 2027, along with the assumption of $35 million in fixed-rate senior notes and $57 million in floating-rate senior notes due in 2025, signifies a strategic financial maneuver. Additionally, the company instituted a Dividend Reinvestment Plan, allowing shareholders the option to reinvest cash distributions or receive them in cash, further enhancing shareholder engagement and investment flexibility. This series of financial actions underscores the company’s commitment to robust financial management and strategic growth post-merger.
Learn more about TCPC stock on TipRanks’ Stock Analysis page.
