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BlackRock TCP Capital (TCPC) just unveiled an announcement.
The Company successfully managed its financial portfolio by issuing $250 million of 2024 Notes and repaying them fully upon maturity. Following the repayment, the Company’s leverage strategy includes a variety of debt facilities and notes maturing between 2025 and 2029. Additionally, changes in legislation reduced the asset coverage requirement for business development companies, allowing a higher ratio of indebtedness to equity. The Company’s asset coverage ratio stood at a healthy 180.2% after repaying the 2024 Notes, showcasing strong financial health and compliance with regulatory requirements.
For an in-depth examination of TCPC stock, go to TipRanks’ Stock Analysis page.