Loan & DebtJun 1, 2026, 05:09 PM
PennantPark Issues $105M 7.375% Notes Due 2031
AI Summary
PennantPark Floating Rate Capital Ltd. issued $105 million aggregate principal amount of 7.375% Notes due 2031, including $5 million from the underwriters' over-allotment option. The notes mature on June 15, 2031, bear interest quarterly, and are expected to be listed on the NYSE under "PFLA". The company received approximately $101.19 million in net proceeds, which will be used to repay its revolving credit facility, invest in portfolio companies, and for general corporate purposes.
Key Highlights
- Issued $105 million aggregate principal amount of 7.375% Notes due 2031.
- Includes $5 million from the underwriters' over-allotment option.
- Notes mature on June 15, 2031, and are callable from June 15, 2028.
- Interest rate is 7.375% per year, paid quarterly starting September 15, 2026.
- Net proceeds to the company were approximately $101.19 million.
- Proceeds will repay outstanding obligations under its revolving credit facility and fund investments.
- Notes expected to be listed on the NYSE under the symbol "PFLA" within 30 days.
Price Impact
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