utah778/iStock via Getty Images
BlackRock Capital Investment (NASDAQ:BKCC) has entered into an amendment to its $265M senior secured revolving credit pact, it said Wednesday.
The amendment extends the maturity date of the loans made under the revolving credit facility to Sept. 6, 2028, from April 23, 2025, and extends the termination date of the commitments available to Sept. 6, 2027, from April 23, 2024.
It also reduces the applicable margin to be applied to interest on the loans by 25 basis points per annum and reduces the commitment fee on unused commitments to 37.5 bps per annum from 40 bps per annum.
Earlier on Wednesday, BlackRock TCP Capital (TCPC) and BlackRock Capital Investment (BKCC) said the business development companies struck a deal for BKCC to merge into a wholly-owned, indirect subsidiary of TCPC.
BKCC’s amendment of its credit deal permits the merger of BCIC with and into Project Spurs Merger Sub, the wholly-owned indirect subsidiary of TCPC.