updated 5/10/2011 6:48:11 AM ET 2011-05-10T10:48:11

RALEIGH, N.C., May 10, 2011 (GLOBE NEWSWIRE) -- Triangle Capital Corporation (NYSE:TCAP) ("Triangle" or the "Company"), a leading specialty finance company that provides customized financing solutions to lower middle market companies located throughout the United States, today announced that it has closed a three-year senior secured credit facility ("Credit Facility") with an initial commitment of $50.0 million. The Credit Facility was arranged by BB&T Capital Markets and Fifth Third Bank. The Credit Facility has an accordion feature which allows for an increase in the total loan size up to $90.0 million and also contains two one-year extension options bringing the total potential commitment and funding period to five years from closing. Borrowings under the Credit Facility will be at an interest rate of LIBOR plus 2.95%.

"Our new Credit Facility provides us with significant flexibility to continue to fund attractive investments at our parent company level. Our partners at BB&T and Fifth Third have been very supportive during the structuring and underwriting process and we look forward to continuing to work closely with them," commented Steven C. Lilly, Chief Financial Officer.

About Triangle Capital Corporation

Triangle Capital Corporation ( www.TCAP.com ) is a specialty finance company organized to provide customized financing solutions to lower middle market companies located throughout the United States. 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 to fund growth, changes of control, or other corporate events. Triangle typically invests $5.0 million - $15.0 million per transaction in companies with annual revenues between $20.0 million and $100.0 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.

Forward-Looking Statements

This press release may contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Any such statements, other than statements of historical fact, are likely to be affected by other unknowable future events and conditions, including elements of the future that are or are not under the Company's control, and that the Company may or may not have considered; accordingly, such statements cannot be guarantees or assurances of any aspect of future performance. Actual developments and results are highly likely to vary materially from these estimates and projections of the future and some of these uncertainties are enumerated in Triangle's filings with the Securities and Exchange Commission. Certain factors that could cause actual results to differ materially from those contained in the forward-looking statements are included in our annual reports on Form 10-K, quarterly reports on Form 10-Q and current reports on Form 8-K, each as filed with the Securities and Exchange Commission. Copies are available on the SEC's website at www.sec.gov. Such statements speak only as of the time when made, and the Company undertakes no obligation to update any such statement now or in the future.

CONTACT: Sheri Blair Colquitt
         Vice President, Investor Relations
         919-719-4784
         scolquitt@tcap.com
         
         Steven C. Lilly
         Chief Financial Officer
         919-719-4789
         slilly@tcap.com

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