Triangle Capital Corporation Announces New Commitment to Its Senior Credit Facility
October 03 2017 - 7:00AM
Triangle Capital Corporation (NYSE:TCAP)
(“Triangle” or the “Company”), a leading provider of capital to
lower middle market companies, announced today that it received a
new commitment to its senior secured credit facility (“Credit
Facility”) in the amount of $15.0 million, bringing total
commitments under the Credit Facility to $480.0 million supported
by a diversified group of fifteen lenders. The additional
commitment was executed under the accordion feature of the Credit
Facility, which continues to allow for an increase in commitments
up to $550.0 million. The final maturity date of the Credit
Facility remains unchanged at April 30, 2022.
About Triangle Capital
Corporation
Triangle Capital Corporation (www.TCAP.com)
invests capital in established companies in the lower middle market
to fund growth, changes of control and other corporate
events. Triangle offers a wide variety of debt and equity
investment structures including first lien, unitranche, second
lien, and mezzanine with equity components. Triangle’s
investment objective is to seek attractive returns by generating
current income from debt investments and capital appreciation from
equity related investments. Triangle’s investment philosophy
is to partner with business owners, management teams and financial
sponsors to provide flexible financing solutions. Triangle
typically invests $5.0 million - $50.0 million per transaction in
companies with annual revenues between $20.0 million and $300.0
million and EBITDA between $5.0 million and $75.0 million.
Triangle has elected to be treated as a business
development company under the Investment Company Act of 1940 ("1940
Act"). Triangle is required to comply with a series of
regulatory requirements under the 1940 Act as well as applicable
NYSE, federal and state laws and regulations. Triangle has
elected to be treated as a regulated investment company under the
Internal Revenue Code of 1986. Failure to comply with any of
the laws and regulations that apply to Triangle could have a
material adverse effect on Triangle and its stockholders.
Forward Looking Statements
This press release may contain forward-looking statements
regarding the plans and objectives of management for future
operations. Any such forward-looking statements may involve known
and unknown risks, uncertainties and other factors which may cause
our actual results, performance or achievements to be materially
different from future results, performance or achievements
expressed or implied by any forward-looking statements.
Forward-looking statements, which involve assumptions and describe
our future plans, strategies and expectations, are generally
identifiable by use of the words “may,” “will,” “should,” “expect,”
“anticipate,” “estimate,” “believe,” “intend,” “target,” “goals,”
“plan,” “forecast,” “project,” other variations on these words or
comparable terminology, or the negative of these words. These
forward-looking statements are based on assumptions that may be
incorrect, and we cannot assure you that the projections included
in these forward-looking statements will come to pass. Our actual
results could differ materially from those expressed or implied by
the forward-looking statements as a result of various factors,
including the factors discussed in our annual reports on Form 10-K,
quarterly reports on Form 10-Q, current reports on Form 8-K and
other documents or reports that we in the future may file with the
Securities and Exchange Commission (the “SEC”). Copies of any
reports or documents we file with the SEC are publicly available on
the SEC’s website at www.sec.gov, and stockholders may receive a
hard copy of our completed audited financial statements free of
charge upon request to the Company at 3700 Glenwood Avenue, Suite
530, Raleigh, NC 27612.
We have based any forward-looking statements included in this
press release on information available to us on the date of this
press release, and we assume no obligation to update any such
forward-looking statements, unless we are required to do so by
applicable law. However, you are advised to consult any additional
disclosures that we may make directly to you or through reports
that we in the future may file with the SEC, including subsequent
annual reports on Form 10-K, quarterly reports on Form 10-Q and
current reports on Form 8-K.
Contacts
E. Ashton PooleChairman & Chief Executive
Officer919-747-8618apoole@tcap.com
Steven C. LillyChief Financial
Officer919-719-4789slilly@tcap.com
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