Welcome to our dedicated page for BlackRock TCP Capital news (Ticker: TCPC), a resource for investors and traders seeking the latest updates and insights on BlackRock TCP Capital stock.
BlackRock TCP Capital Corp. (NASDAQ: TCPC) is a publicly-traded business development company (BDC) focusing on middle-market lending. The primary objective of BlackRock TCP Capital Corp. is to achieve high total returns while minimizing losses through investments in the debt securities of middle-market companies, typically defined as those with enterprise values between $100 million and $1.5 billion.
Managed externally by Tennenbaum Capital Partners, LLC, a renowned alternative investment manager, the company leverages extensive industry experience and a disciplined investment process to deliver consistent performance. The firm's strategy emphasizes principal protection and seeks to generate returns through a combination of contractual interest payments, origination fees, and equity appreciation opportunities such as options, warrants, and conversion rights.
BlackRock TCP Capital Corp. operates within the regulatory framework of the Investment Company Act of 1940, ensuring strict compliance and risk management. The firm’s diversified portfolio includes investments across various sectors, providing resilience and growth potential in different market conditions.
Recent achievements include solid financial performance and strategic partnerships that have bolstered its market position. The company's focus on middle-market companies positions it uniquely to capitalize on growth opportunities in this segment, offering substantial value to its shareholders.
For the latest updates and detailed information about BlackRock TCP Capital Corp., visit their official website at www.tcpcapital.com.
BlackRock TCP Capital Corp. (NASDAQ: TCPC) has moved up the release date for its second quarter financial results for the period ending June 30, 2021, to August 2, 2021, ahead of the previously scheduled date of August 4, 2021. The results will be reported before the markets open, followed by a conference call at 1:00 p.m. Eastern Time on the same day. Interested parties can join via phone or webcast. BlackRock TCP Capital focuses on direct lending to middle-market companies, aiming for high total returns through current income and capital appreciation.
BlackRock TCP Capital Corp. (NASDAQ: TCPC) will report its financial results for Q2 ended June 30, 2021, on August 4, 2021, before market opening. A conference call is scheduled for the same day at 1:00 p.m. Eastern Time, allowing stakeholders to discuss these results. Interested participants can join by phone or via a webcast on TCPC's investor relations website. A replay will be available post-call until August 11, 2021. TCPC focuses on lending to middle-market companies, aiming for high total returns through current income and capital appreciation.
BlackRock TCP Capital Corp. (NASDAQ: TCPC) has announced a two-year extension of its SVCP Credit Facility to May 6, 2026. The amendments include a reduction in the interest rate to LIBOR plus 1.75%, contingent on borrowing base conditions. The Facility is managed by ING Capital LLC and involves seven bank participants. CFO Erik Cuellar expressed satisfaction with the extension, highlighting the importance of long-term partnerships with lenders.
BlackRock TCP Capital Corp. (NASDAQ: TCPC) announced a leadership transition, appointing Rajneesh Vig as the new Chairman and CEO, succeeding Howard Levkowitz. Vig's appointment will be effective August 5, 2021, while Phil Tseng will become President and COO on the same date. This change follows Levkowitz's retirement plans, after a successful tenure that included the integration of Tennenbaum Capital Partners into BlackRock. Both Vig and Tseng have significant experience in the private credit sector, positioning TCPC for continued growth and strong shareholder returns.
BlackRock TCP Capital Corp. (TCPC) reported strong financial results for Q1 2021, with net investment income of $18.4 million ($0.32/share), exceeding its $0.30 dividend. The net increase in assets from operations was $35.5 million ($0.61/share), and net asset value per share rose 2.4% to $13.56. The company's portfolio included investments in 98 companies with a fair value of approximately $1.7 billion. The average yield on debt investments was about 9.5%. The board declared a second-quarter dividend of $0.30/share, reflecting confidence in ongoing performance.
BlackRock TCP Capital Corp. (NASDAQ: TCPC) is set to report its financial results for Q1 ended March 31, 2021, on May 5, 2021, before market opening. A conference call will take place at 1:00 p.m. ET the same day to discuss these results. Interested parties can join by dialing (866) 270-1533 in the U.S. or (412) 317-0797 internationally. The call will be available as a webcast on TCPC's investor relations website. An archived replay will be accessible after the live call until May 12, 2021.
BlackRock TCP Capital Corp. (TCPC) reported a 4.2% year-over-year increase in net asset value per share to $13.24 for Q4 2020. Net investment income reached $20.0 million, or $0.35 per share, surpassing its $0.30 dividend. Total investment income was $42.9 million, down from prior year, attributed to decreased LIBOR impacting returns. The company acquired $182.5 million in new investments, focusing on senior secured debt, while maintaining low non-accrual loans at 0.5%. Total assets were $1.7 billion, with liquidity of $342.5 million available at year-end.
BlackRock TCP Capital Corp. (NASDAQ: TCPC) has priced $175 million in 2.850% notes due 2026. The transaction is subject to customary closing conditions, with delivery expected on February 9, 2021. The notes will bear a 2.850% annual interest, payable semiannually, and may be redeemed at par with a potential make-whole premium. Proceeds will be used to repay credit facilities and for corporate purposes. The notes rank equally with the Company’s other unsecured senior debt but are subordinated to subsidiary debts and secured liabilities.
BlackRock TCP Capital Corp. (TCPC) revealed preliminary financial estimates for Q4 2020. The estimated net investment income per share ranges from $0.34 to $0.35. The net asset value increased from $12.71 on September 30, 2020, to $13.22 by December 31, 2020, reflecting a 4.0% increase. Total dividends paid were (0.30). Regulatory leverage stands at 0.94x, and gross leverage at 1.12x with non-accrual loans at 0.5%. Final results will be confirmed following the completion of financial closing procedures.
BlackRock TCP Capital Corp. (NASDAQ: TCPC) has announced the upcoming release of its financial results for the fourth quarter and fiscal year ended December 31, 2020. The announcement is scheduled for February 25, 2021, before market opening. Alongside, a conference call will be held at 1:00 p.m. ET to discuss these results, accessible via phone and webcast. Interested participants can dial (866) 393-0571 for U.S. calls or (206) 453-2872 for international calls, entering Conference ID 9091365.
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