Contact Information: Contact: Bruce Rubin 203-983-5280 Patrick Conroy 203-983-5282
TICC Renews Credit Facility, Maintains Interest Rate Spread
| Source: TICC Capital Corp.
GREENWICH, CT--(Marketwire - February 5, 2008) - TICC Capital Corp. (the "Company")(NASDAQ : TICC ) announced today that it has amended its existing revolving credit
facility (the "Facility"), extending the termination date from April 11,
2008 to January 29, 2009. Royal Bank of Canada ("RBC") remains agent
under the Facility and each of RBC and Branch Banking & Trust Company
remain a lender with a commitment of $75,000,000, for a total commitment of
$150,000,000 (which is a reduction from $180,000,000 as a result of the
removal of Commerzbank AG as a lender). The Company has not historically
utilized an amount of the facility exceeding $150,000,000. Under the terms
of the amended Facility, drawdowns will continue to bear interest on the
same terms as the previous arrangement, which is generally 1.75% over
LIBOR.
"In view of the recent dislocations in the global credit markets, we are
very pleased that our two primary lenders renewed the credit facility and
were able to maintain the interest rate spread we have historically
enjoyed," said Jonathan Cohen, Chief Executive Officer of the Company.
About TICC Capital Corp.
We are a publicly traded business development company principally engaged
in providing capital to small to mid-size technology-related companies.
While the structures of our financings vary, we look to invest primarily in
the debt and equity of established technology-related businesses.
Companies interested in learning more about financing opportunities should
contact Barry Osherow at (203) 661-9572 or visit our website at
www.ticc.com.
Forward-Looking Statements
This press release contains forward-looking statements subject to the
inherent uncertainties in predicting future results and conditions. Any
statements that are not statements of historical fact (including statements
containing the words "believes," "plans," "anticipates," "expects,"
"estimates" and similar expressions) should also be considered to be
forward-looking statements. Certain factors could cause actual results and
conditions to differ materially from those projected in these
forward-looking statements. These factors are identified from time to time
in our filings with the Securities and Exchange Commission. We undertake no
obligation to update such statements to reflect subsequent events.