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BlackRock TCP Capital closes offering of notes due 2024

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BlackRock TCP Capital closes offering of notes due 2024

BlackRock TCP Capital Corp. on Aug. 23 closed its offering of $150 million of notes due Aug. 23, 2024.

The notes bear interest at a rate of 3.900% per year, payable semiannually on Feb. 23 and Aug. 23 of each year, starting Feb. 23, 2020.

The net proceeds to the company from the offering were about $146.9 million, after deducting the underwriting discount of approximately $975,000 and estimated offering expenses of roughly $300,000. BlackRock TCP Capital intends to use the net proceeds to repay amounts outstanding under its credit facilities and for other general corporate purposes.