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TCP Capital to repay revolving credit facilities via stock offering
By Tali Rackner
Norfolk, Va., Nov. 20 – TCP Capital Corp. plans to use the proceeds from a common share offering to repay amounts outstanding under its revolving credit facilities, according to a press release.
The repayments will increase the funds under the revolving credit facilities available to the company to make additional investments in portfolio companies.
TCP said remaining proceeds will be used to make investments in portfolio companies in accordance with its investment objective and for other general corporate purposes, including payment of operating expenses.
Santa Monica, Calif.-based TCP Capital is a specialty finance company.
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