RALEIGH, N.C., Sept. 18, 2012 (GLOBE NEWSWIRE) -- Triangle Capital Corporation (NYSE:TCAP) ("Triangle" or the "Company"), a leading provider of capital to lower middle market companies located throughout the United States, today announced that it has closed a four-year senior secured credit facility ("Credit Facility") with an initial commitment of $165.0 million. The Credit Facility was arranged by BB&T Capital Markets and Fifth Third Bank and replaces the Company's existing $75.0 million senior secured credit facility. The Credit Facility has an accordion feature which allows for an increase in the total loan size up to $215.0 million and also contains two one-year extension options bringing the total potential term to six years from closing. Borrowings under the Credit Facility will be at an interest rate of LIBOR plus 2.95%. "We are delighted to have such strong support from our three existing long-term partners, as well as six additional lenders in this transaction. The high level of lender interest enabled us to increase the commitment by 10% from the initially contemplated facility of $150.0 million. The new $165.0 million Credit Facility provides us with significantly greater flexibility as we continue to expand our investment portfolio," commented Steven C. Lilly, Chief Financial Officer. About Triangle Capital Corporation Triangle Capital Corporation ( www.TCAP.com ) invests capital in established companies in the lower middle market to fund growth, changes of control and other corporate events. Triangle offers a wide variety of investment structures, and specializes in mezzanine financing with equity components. Triangle's investment objective is to seek attractive returns by generating current income from debt investments and capital appreciation from equity related investments. Triangle's investment philosophy is to partner with business owners, management teams and financial sponsors to provide flexible financing solutions. Triangle typically invests $5.0 million - $25.0 million per transaction in companies with annual revenues between $20.0 million and $200.0 million and EBITDA between $3.0 million and $20.0 million. Triangle has elected to be treated as a business development company under the Investment Company Act of 1940 ("1940 Act"). Triangle is required to comply with a series of regulatory requirements under the 1940 Act as well as applicable NYSE, federal and state laws and regulations. Triangle has elected to be treated as a regulated investment company under the Internal Revenue Code of 1986. Failure to comply with any of the laws and regulations that apply to Triangle could have a material adverse effect on Triangle and its stockholders.