Loan & DebtMay 27, 2026, 05:31 PM
PennantPark Floating Rate Capital to Issue $100M 7.375% Notes due 2031
AI Summary
PennantPark Floating Rate Capital Ltd. entered into an underwriting agreement for the issuance and sale of $100 million aggregate principal amount of its 7.375% Notes due 2031. The company also granted the underwriters an option to purchase up to an additional $15 million of these notes. The net proceeds from the offering are intended for repaying its revolving credit facility, investing in portfolio companies, and for general corporate purposes.
Key Highlights
- PennantPark Floating Rate Capital entered an underwriting agreement for $100 million 7.375% Notes due 2031.
- Underwriters have an option to purchase an additional $15 million aggregate principal amount of the 2031 Notes.
- The closing of the offering is expected on June 1, 2026.
- Net proceeds will be used to repay outstanding obligations under its revolving credit facility.
- Proceeds will also be used to invest in new or existing portfolio companies and for general corporate purposes.
- The 2031 Notes are expected to be listed on the NYSE under the symbol "PFLA" within 30 days of June 1, 2026.
Price Impact
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