Triangle Capital Corp (a BDC) Prices a Note Issue
By: Tim McPartland,
Business development company, Triangle Capital Corp (ticker:TCAP) has priced a new $25 note issue. The coupon will be 6.375%.
TCAP being a BDC will be required to have asset coverage of 200% of debt–this gives the issue an added level of safety.
We will likely buy a position in this debt issue as it has a relatively short maturity date in 2022.