---
title: "BlackRock TCP Capital Prices $535.8 Million CLO, Refinances Debt; Terminates TCPC II Facility"
type: "News"
locale: "en"
url: "https://longbridge.com/en/news/288327261.md"
description: "BlackRock TCP Capital completed a $535.8 million CLO, using proceeds to refinance debt and terminate the TCPC II facility. The company appointed Tennenbaum Capital Partners for portfolio management under a no-fee arrangement and signed agreements with Scotia Capital and Computershare. This move aims to lower funding costs and extend liability duration."
datetime: "2026-06-01T20:53:01.000Z"
locales:
  - [zh-CN](https://longbridge.com/zh-CN/news/288327261.md)
  - [en](https://longbridge.com/en/news/288327261.md)
  - [zh-HK](https://longbridge.com/zh-HK/news/288327261.md)
---

# BlackRock TCP Capital Prices $535.8 Million CLO, Refinances Debt; Terminates TCPC II Facility

BlackRock TCP Capital completed a $535.8 million CLO through an indirect subsidiary, issuing multiple floating-rate note classes backed by middle-market loans. The company entered a placement agreement with Scotia Capital and an indenture with Computershare Trust Company as trustee, and appointed Tennenbaum Capital Partners to manage the CLO portfolio under a no-fee arrangement. Proceeds were used to purchase collateral and refinance debt, including full repayment and early termination of the TCPC II Loan and Servicing Agreement. The actions are expected to lower funding costs and extend liability duration.

**Agreement 1: BlackRock TCP Capital Completes $535.8 Million CLO; Signs Placement Agreement With Scotia Capital**

-   **Agreement type**: Placement agency agreement for CLO notes
-   **Counterparty**: Scotia Capital
-   **Signed / Effective**: May 27 2026 / May 27 2026
-   **Reason**: Securitize loans and raise funding at attractive terms

**Agreement 2: BlackRock TCP Capital Enters Indenture for $535.8 Million CLO With Computershare as Trustee**

-   **Agreement type**: Indenture governing CLO secured notes
-   **Counterparty**: Computershare Trust Company
-   **Signed / Effective**: May 27 2026 / May 27 2026
-   **Duration / Termination**: To Jul 25 2034
-   **Reason**: Establish terms and security for CLO noteholders

**Agreement 3: BlackRock TCP Capital Appoints Tennenbaum to Manage CLO Portfolio Under No-Fee Agreement**

-   **Agreement type**: Investment management agreement for CLO issuer
-   **Counterparty**: Tennenbaum Capital Partners
-   **Signed / Effective**: May 27 2026 / May 27 2026
-   **Reason**: Provide dedicated CLO portfolio management without added fees

**Agreement 4: BlackRock TCP Capital Terminates TCPC II Loan and Servicing Agreement as CLO Proceeds Repay Facility**

-   **Agreement terminated**: Loan and Servicing Agreement
-   **Counterparty**: Morgan Stanley Asset Funding
-   **Original agreement date**: Aug 04 2020
-   **Termination date**: May 27 2026
-   **Termination type**: Early
-   **Reason**: Refinance through new CLO and repay borrowings

Original SEC Filing: BlackRock TCP Capital Corp. \[ TCPC \] - 8-K - Jun. 01, 2026

**Disclaimer**

This is an AI-powered summary. It may contain inaccuracies. Consider verifying important information with the source. Please note this summary is solely based on documents filed with the SEC.

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