BlackRock TCP Capital Corp. Prices Offering of 6.95% Notes due 2029

BlackRock TCP Capital Corp. (NASDAQ: TCPC) (“TCPC” or the “Company”) announced today the pricing of an underwritten public offering of $325,000,000 in aggregate principal amount of 6.95% notes due 2029 (the “Notes”). The Notes are expected to be issued on or about May 30, 2024, subject to customary closing conditions.

The Notes will be the senior unsecured obligations of the Company and will bear interest at a rate of 6.95% per year, payable semiannually. The Notes will mature on May 30, 2029 and may be redeemed in whole or in part at the Company’s option at any time at par plus a “make-whole” premium, provided that the Notes may be redeemed at par one month prior to their maturity.

The Company intends to use the net proceeds of the offering of the Notes to repay the Company’s outstanding 3.900% Notes due 2024 at or before maturity and for the temporary repayment of the Company’s other indebtedness. The Company may also invest the net proceeds of the offering of the Notes in accordance with its investment objective and for other general corporate purposes, including the payment of operating expenses.

Morgan Stanley & Co. LLC, BofA Securities, Inc. and SMBC Nikko Securities America, Inc. are acting as joint book-running managers.

This offering is being made pursuant to an effective shelf registration statement and prospectus and a related preliminary prospectus supplement filed by the Company with the Securities and Exchange Commission (the “SEC”). Before investing, potential investors should read the prospectus and the related preliminary prospectus supplement, the shelf registration statement and other documents that the Company has filed with the SEC for more complete information about the Company and this offering.

Copies of the prospectus supplement and related prospectus for this offering can be obtained from Morgan Stanley & Co. LLC by calling [phone] or emailing [e-mail]; BofA Securities, Inc. by calling [phone] or emailing [e-mail]; or SMBC Nikko Securities America, Inc. by calling [phone] or emailing [e-mail].

This press release does not constitute an offer to sell or the solicitation of an offer to buy any securities, including the Notes. There shall not be any sale of the securities described herein in any state or other jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or other jurisdiction.