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TCP Capital unit secures $100M revolving credit facility

TCP Capital Corp. subsidiary Special Value Continuation Partners LP has established a $100 million revolving, multicurrency credit facility with ING Capital LLC, as administrative agent.

The facility has an accordion feature under which the credit line may increase up to $300 million.

The facility matures Feb. 28, 2022, and generally bears interest at London Interbank Offered Rate plus 2.25%. It replaces the previous facility that generally bore interest at LIBOR plus 2.5%.

Additionally, the company reported 2017 net investment income of $113.4 million, compared to $95.3 million in the year-ago period.