BlackRock TCP Capital Corp. (NASDAQ:TCPC) Q4 2022 Earnings Call Transcript

Kevin Fultz: Okay. I appreciate the comments, Phil, and I’ll leave it there.

Phil Tseng: Thanks.

Operator: Thank you. The next question comes from the line of Christopher Nolan with Ladenburg Thalmann. You may proceed

Christopher Nolan : Hey, Erik, was the decline in interest income quarter-over-quarter due to AutoAlert going down accrual?

Erik Cuellar : It was primarily, yes, we didn’t recognize any income AutoAlert for the quarter.

Christopher Nolan : Okay. And then

Erik Cuellar : And lower prepayment income as well.

Christopher Nolan : Yes. Okay. And then for AutoAlert, is there a bank facility ahead of your position?

Raj Vig: No, there’s not. We are first position on that mode.

Christopher Nolan : All right. And then is there any discussions regarding a restructuring or bankruptcy related to AutoAlert?

Raj Vig: We’re not at a point where we can discuss the details, although, I do appreciate the question, but we are in deep discussions with both the management team and the sponsor on go-forward plans that we hope to have more to report in subsequent quarters.

Christopher Nolan : Okay. Follow-up question, how much was spillover income in the quarter?

Erik Cuellar : For the quarter itself or sort of cumulative?

Christopher Nolan : Cumulative, please.

Erik Cuellar : Yes. Cumulative is about $1.20 per share.

Christopher Nolan : Great. Thank you.

Erik Cuellar : Thank you.

Operator: Thank you. There are no additional questions at this time. I will hand it back to the management team, for closing remarks.

Raj Vig: We appreciate your participation on today’s call. I would like to thank our team for all of the continued hard work and dedication. I would also like to thank our shareholders and capital partners for your confidence and your continued support. Thanks for joining us. This concludes today’s call.

Operator: That concludes today’s conference call. Thank you. You may now