By Cristal Cody
Tupelo, Miss., Nov. 19 – BlackRock TCP Capital Corp. on Tuesday priced a $50 million add-on to its 3.9% senior notes due Aug. 23, 2024 (Baa3/BBB-) at 99.035 to yield 4.125%, or a spread of 250 basis points over Treasuries, according to an FWP filed with the Securities and Exchange Commission.
BofA Securities, Inc. was the bookrunner.
The issue originally priced in a $150 million offering on Aug. 16 at 98.757 to yield 4.178% and a spread of 275 bps over Treasuries. The total outstanding is now $200 million.
Proceeds will be used to repay debt under the company's credit facility and funding facility and for other general corporate purposes.
The specialty finance company is based in Santa Monica, Calif.
| Issuer: | BlackRock TCP Capital Corp.
|
| Amount: | $50 million reopening
|
| Description: | Senior notes
|
| Maturity: | Aug. 23, 2024
|
| Bookrunner: | BofA Securities, Inc.
|
| Co-manager: | Keefe, Bruyette & Woods, Inc.
|
| Coupon: | 3.9%
|
| Price: | 99.035
|
| Yield: | 4.125%
|
| Spread: | Treasuries plus 250 bps
|
| Call features: | Make-whole call equal to greater of par or Treasuries plus 45 bps
|
| Change-of-control put: | Par
|
| Trade date: | Nov. 19
|
| Settlement date: | Nov. 26
|
| Ratings: | Moody’s: Baa3
|
| S&P: BBB-
|
| Distribution: | SEC registered
|
| Total outstanding: | $200 million, including $150 million of notes priced Aug. 16 at 98.757 to yield 4.178% and a spread of 275 bps over Treasuries
|
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