NEW YORK--(BUSINESS WIRE)--Mar. 13, 2013--
BlackRock Kelso Capital Corporation (NASDAQ: BKCC) ("BlackRock Kelso
Capital" or the "Company") announced that it has entered into a four
year $350 million Amended and Restated Senior Secured Revolving Credit
Facility (the “Revolving Credit Facility”), which amends and restates
its revolving credit facility previously outstanding. The Revolving
Credit Facility has a maturity date of March 13, 2017, which includes a
ratable amortization in the final year, and represents an increase of
$75 million in revolving commitments over the prior revolving credit
facility. The interest rate applicable to borrowings is generally LIBOR
plus an applicable margin of 2.50%, a 75 basis point reduction from the
prior revolving credit facility.
The revolving Credit Facility also includes an “accordion” feature that
allows the Company, under certain circumstances to increase the size of
the Revolving Credit Facility up to $750 million.
Citigroup Global Markets Inc. and BMO Capital Markets acted as Joint
Lead Bookrunners and Joint Lead Arrangers, Citibank, N.A. is acting as
Administrative Agent and Bank of Montreal, Chicago Branch is acting as
Syndication Agent under the Revolving Credit Facility.
About BlackRock Kelso Capital Corporation
Formed in 2005, BlackRock Kelso Capital Corporation is a business
development company that provides debt and equity capital to
middle-market companies.
Forward-Looking Statements
This press release, and other statements that BlackRock Kelso Capital
may make, may contain forward-looking statements within the meaning of
the Private Securities Litigation Reform Act, with respect to BlackRock
Kelso Capital’s future financial or business performance, strategies or
expectations. Forward-looking statements are typically identified by
words or phrases such as “trend,” “potential,” “opportunity,”
“pipeline,” “believe,” “comfortable,” “expect,” “anticipate,” “current,”
“intention,” “estimate,” “position,” “assume,” “outlook,” “continue,”
“remain,” “maintain,” “sustain,” “seek,” “achieve,” and similar
expressions, or future or conditional verbs such as “will,” “would,”
“should,” “could,” “may” or similar expressions.
BlackRock Kelso Capital cautions that forward-looking statements are
subject to numerous assumptions, risks and uncertainties, which change
over time. Forward-looking statements speak only as of the date they are
made, and BlackRock Kelso Capital assumes no duty to and does not
undertake to update forward-looking statements. Actual results could
differ materially from those anticipated in forward-looking statements
and future results could differ materially from historical performance.
In addition to factors previously disclosed in BlackRock Kelso Capital'sSecurities and Exchange Commission (the “SEC”) reports and those
identified elsewhere in this press release, the following factors, among
others, could cause actual results to differ materially from
forward-looking statements or historical performance: (1) our future
operating results; (2) our business prospects and the prospects of our
portfolio companies; (3) the impact of investments that we expect to
make; (4) our contractual arrangements and relationships with third
parties; (5) the dependence of our future success on the general economy
and its impact on the industries in which we invest; (6) the ability of
our portfolio companies to achieve their objectives; (7) our expected
financings and investments; (8) the adequacy of our cash resources and
working capital, including our ability to obtain continued financing on
favorable terms; (9) the timing of cash flows, if any, from the
operations of our portfolio companies; (10) the impact of increased
competition; (11) the ability of our investment advisor to locate
suitable investments for us and to monitor and administer our
investments; (12) potential conflicts of interest in the allocation of
opportunities between us and other investment funds managed by our
investment advisor or its affiliates; (13) the ability of our investment
advisor to attract and retain highly talented professionals; (14)
fluctuations in foreign currency exchange rates; and (15) the impact of
changes to tax legislation and, generally, our tax position.
BlackRock Kelso Capital’s Annual Report on Form 10-K for the year ended
December 31, 2012 filed with the SEC identifies additional factors that
can affect forward-looking statements.
Available Information
BlackRock Kelso Capital’s filings with the SEC, press releases, earnings
releases and other financial information are available on its website at www.blackrockkelso.com.
Source: BlackRock Kelso Capital Corporation
BlackRock Kelso Capital Corporation
Investors:
Corinne
Pankovcin, 212-810-5798
or
Press:
Brian Beades,
212-810-5596