Contact Information: For further information contact: Bruce Rubin (203) 983-5280
TICC Announces Further Unilateral Reduction of Its Credit Facility
| Source: TICC Capital Corp.
GREENWICH, CT--(Marketwire - September 15, 2008) - TICC Capital Corp. (the "Company") (NASDAQ : TICC ) announced today that it has taken steps to further reduce its
borrowings and the size of its existing credit facility with Royal Bank of
Canada as lender and Branch Banking & Trust Company as an additional lender
(the "Credit Facility"). Effective September 18, 2008, the Credit Facility
will be paid down to $30.0 million. Since the end of January 2008 and
effective September 18, 2008, the Company will have reduced its borrowings
under its Credit Facility from $146.5 million to $30.0 million.
With the exception of the Company's $30 million of borrowings under its
Credit Facility, TICC has no credit obligation (including any type of off
balance sheet contingent obligation or credit default swap) to any other
financial institution.
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 Debdeep Maji, at (203) 983-5285 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.