TCP Capital Corp. announced the pricing for an offering of $125 million in aggregate principal amount of 4.125% notes due 2022.
The notes are expected to be delivered and paid for Aug. 11.
Interest is payable semiannually, and the notes will mature Aug. 11, 2022. The company may redeem them in whole or in part at any time at par plus a "make whole" premium if applicable. The notes will be unsecured obligations equal in right of payment with the company's unsecured senior indebtedness.
TCP Capital intends to use the net proceeds to repay amounts outstanding under one of its credit facilities and for other general corporate purposes.
Merrill Lynch Pierce Fenner & Smith Inc. and Wells Fargo Securities LLC are acting as joint book-running managers. Deutsche Bank Securities Inc. is acting as senior co-manager. Raymond James & Associates Inc., Keefe Bruyette & Woods Inc., RBC Capital Markets LLC, ING Financial Markets LLC, Natixis Securities Americas LLC and Capital One Securities Inc. are acting as co-managers.