MIAMI, Feb. 26, 2026 (GLOBE NEWSWIRE) -- PennantPark Floating Rate Capital Ltd. (the “Company”) (NYSE: PFLT) today announced that it has priced an underwritten public offering of $200 million aggregate principal amount of its 6.75% notes due 2029 (the “Notes”). The Notes will mature on March 4, 2029 and may be redeemed in whole or in part at the Company’s option at any time at par plus a “make-whole” premium, if applicable, provided that the Notes may be redeemed at par three months prior to their maturity. ...

MIAMI, Feb. 24, 2026 (GLOBE NEWSWIRE) -- PennantPark Floating Rate Capital Ltd. (the “Company”) (NYSE: PFLT) today announced that PennantPark CLO VIII, LLC, a wholly-owned and consolidated subsidiary of the Company, has closed the refinancing of a four-year reinvestment period, twelve-year final maturity $356.5 million debt securitization. The debt issued in this securitization (the “Debt”) is structured in the following manner: ClassPar Amount($ in millions)% of CapitalStructureCouponExpected Rating(S&P)Is ...

Core Viewpoint - PennantPark Floating Rate Capital Ltd. reported its financial results for the first quarter ended December 31, 2025, highlighting a decrease in net investment income and net asset value per share, alongside significant portfolio activity and investment performance. Financial Highlights - The investment portfolio totaled $2,605.3 million, with net assets at $1,040.4 million and a net asset value per share of $10.49, reflecting a quarterly change of -3.1% [2] - Net investment income for the quarter was $26.6 million, or $0.27 per share, compared to $30.0 million, or $0.37 per share in the same quarter of the previous year [16][33] - Total investment income increased to $70.1 million from $67.0 million year-over-year, primarily due to a larger debt portfolio [14] Portfolio Activity - The company invested $301.0 million in four new and 51 existing portfolio companies during the quarter, with sales and repayments totaling $441.4 million [7] - The PSSL II joint venture commenced operations, investing approximately $200 million during the quarter, and subsequently upsized its credit facility to $250 million [5][28] - As of December 31, 2025, the portfolio consisted of 160 companies with an average investment size of $16.3 million and a weighted average yield on debt investments of 9.9% [5] Debt and Equity - The debt to equity ratio stood at 1.57x, with a weighted average yield on debt investments at 9.9% [2] - The company had $488.9 million in credit facilities and various asset-backed debts totaling $1,346.3 million [2] Expenses and Income - Total expenses for the quarter were $43.5 million, up from $37.0 million in the previous year, driven by increased interest expenses [15] - Net realized gains for the quarter were $1.5 million, a significant decrease from $26.7 million in the same quarter of the previous year [17] Liquidity and Capital Resources - Cash and cash equivalents were reported at $95.3 million as of December 31, 2025, down from $122.7 million at the end of the previous quarter [23] - The company generated $148.6 million from operating activities, while financing activities used $176.0 million [25] Distributions - Distributions declared per share were $0.31, totaling $30.5 million for the quarter, compared to $25.2 million in the same quarter of the previous year [27]

Core Viewpoint - PennantPark Floating Rate Capital Ltd. will report its financial results for the first fiscal quarter ended December 31, 2025, on February 9, 2026, after market close [1] Group 1: Financial Reporting - The company will host a conference call on February 10, 2026, at 9:00 a.m. Eastern Time to discuss its financial results, with access available via a toll-free number [2] - An archived replay of the conference call will be available on the company's website [2] Group 2: Company Overview - PennantPark Floating Rate Capital Ltd. is a business development company that primarily invests in U.S. middle-market private companies through floating rate senior secured loans, including first lien, second lien, and subordinated debt [3] - The company may also engage in equity investments from time to time [3] Group 3: Management and Affiliates - PennantPark Investment Advisers, LLC manages approximately $10 billion of investable capital and has been providing access to middle market credit since its inception in 2007 [4] - The firm offers a range of financing solutions to private equity firms and middle-market borrowers [4]

Core Insights - PennantPark Investment Corporation has sold its equity investment in JF Intermediate, LLC for $67.5 million, realizing a gain of $63.1 million, which aligns with the fair value of the investment as of September 30, 2025 [1] - The company has increased the size of its multi-currency, senior secured credit facility from $500 million to $535 million, extended the maturity to 2030, and reduced pricing from SOFR plus 235 basis points to SOFR plus 210 basis points [2] Company Actions - The sale of the investment in JF provides PennantPark with $67.5 million in liquidity, marking an important milestone in its equity rotation strategy and benefiting shareholders [3] - The upsizing of the Credit Facility, along with lower pricing, enhances the company's ability to serve middle-market clients while reducing borrowing costs for shareholders [4] Company Overview - PennantPark Investment Corporation primarily invests in U.S. middle-market private companies through various forms of debt and equity investments [6] - The company is managed by PennantPark Investment Advisers, LLC, which oversees approximately $10 billion of investable capital and offers a range of financing solutions to middle-market borrowers [7]

Core Viewpoint - PennantPark Investment Corporation will report its fourth fiscal quarter results on November 24, 2025, after market close [1] - A conference call to discuss these results is scheduled for November 25, 2025, at 12:00 p.m. Eastern Time [2] Company Overview - PennantPark Investment Corporation is a business development company that primarily invests in U.S. middle-market private companies through various forms of debt and equity investments [3] - The company is managed by PennantPark Investment Advisers, LLC, which oversees approximately $10 billion of investable capital [4] - PennantPark Investment Advisers, LLC has been providing access to middle market credit since its inception in 2007, offering a range of financing solutions [4]

Core Points - PennantPark Floating Rate Capital Ltd. will report its fourth fiscal quarter results for the period ending September 30, 2025, on November 24, 2025, after market close [1] - A conference call to discuss the financial results will be held on November 25, 2025, at 9:00 a.m. Eastern Time, with access details provided for participants [2] Company Overview - PennantPark Floating Rate Capital Ltd. is a business development company that primarily invests in U.S. middle-market private companies through floating rate senior secured loans, including first lien secured debt, second lien secured debt, and subordinated debt [3] - The company may also engage in equity investments occasionally [3] Management Overview - PennantPark Investment Advisers, LLC manages PennantPark Floating Rate Capital Ltd. and is a prominent middle market credit platform with approximately $10 billion of investable capital, including potential leverage [4] - Since its establishment in 2007, the firm has provided access to middle market credit through a variety of financing solutions for private equity firms and their portfolio companies, as well as other middle-market borrowers [4]

Core Insights - PennantPark Investment Corporation reported its financial results for the third quarter ended June 30, 2025, highlighting a decrease in net asset value per share and net investment income compared to the previous year [1][16][21]. Financial Highlights - The investment portfolio totaled $1,171.6 million, with net assets of $480.6 million and a net asset value per share of $7.36, reflecting a quarterly change of -1.6% [2]. - Net investment income for the quarter was $11.8 million, or $0.18 per share, down from $15.7 million, or $0.24 per share, in the same quarter of 2024 [16][27]. - Total investment income for the quarter was $29.6 million, a decrease from $37.0 million in the prior year [14][36]. - Total expenses for the quarter were $17.8 million, down from $21.3 million in the same quarter of 2024 [15][36]. Portfolio Activity - The company made purchases of investments totaling $87.7 million and sales and repayments of investments totaling $132.2 million during the quarter [7]. - As of June 30, 2025, the portfolio consisted of 158 companies with an average investment size of $6.6 million, and a weighted average yield on debt investments of 11.5% [5][19]. Debt and Liquidity - The company had outstanding borrowings of $316.4 million under the Truist Credit Facility, with a weighted average interest rate of 6.7% [23]. - Cash and cash equivalents amounted to $70.5 million as of June 30, 2025, available for investing and general corporate purposes [24]. Distributions - Distributions declared during the quarter were $0.24 per share, totaling $15.7 million, compared to $0.22 per share, totaling $14.4 million in the same quarter of 2024 [27][28]. Recent Developments - In July 2025, the company refinanced its $300 million debt securitization, resulting in a decrease in the weighted average cost of capital from SOFR+3.31% to SOFR+2.63% [29].

Core Viewpoint - PennantPark Investment Corporation announced the partial refinancing of its $300 million debt securitization through its subsidiary, PennantPark CLO VII, LLC, which is expected to lower the cost of capital and enhance returns on invested capital [1][2]. Company Overview - PennantPark Investment Corporation is a business development company that primarily invests in U.S. middle market private companies through various forms of secured debt and equity investments [4]. - The company manages approximately $4.0 billion in middle market assets in securitizations and has a total of about $10 billion of investable capital, including leverage [2][6]. Investment Strategy - PennantPark Senior Loan Fund, LLC, a joint venture with Pantheon Ventures (UK), LLP, focuses on investing in U.S. middle market companies with below investment grade debt [5]. - The company aims to provide flexible financing solutions to private equity firms and their portfolio companies, as well as other middle market borrowers [6]. Financial Details - The partial refinancing involved different tranches with specific amounts and expected ratings: - Class B-R Loans: $21 million at 1.95% coupon rated AA - Class C-R Loans: $24 million at 2.30% coupon rated A - Class D-R Loans: $18 million at 3.35% coupon rated BBB- [2]. - The refinancing is anticipated to significantly reduce the cost of capital for both the company and PSLF [2]. Market Position - The CEO highlighted the refinancing as a testament to the strength of the company's platform and its ability to capitalize on favorable market conditions [2]. - The company continues to retain exposure to the performance of the securitized assets through its retention of Subordinated Notes [2]. Transaction Details - BNP Paribas acted as the lead placement agent for the CLO transaction [2]. - The debt offered in this securitization has not been registered under the Securities Act and cannot be sold in the U.S. without proper registration [3].

Company Overview - PennantPark Investment Corporation is a business development company that primarily invests in U.S. middle-market private companies through various forms of debt and equity investments [3] - The company is managed by PennantPark Investment Advisers, LLC, which has approximately $10 billion of investable capital [4] Upcoming Financial Reporting - The company will report its financial results for the third fiscal quarter ended June 30, 2025, on August 11, 2025, after the market closes [1] - A conference call to discuss these results will be held on August 12, 2025, at 12:00 p.m. Eastern Time, with access details provided for interested parties [2]