Triangle Capital Corp (a BDC) Prices a Note Issue

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.

Details of the issue are here.