PennantPark Floating Rate Capital Ltd (PFLT) News & EventsPFLTNews & EventsPennantPark Floating Rate Capital Ltd

Company Reports Q3 NAV per Share of $10.26

Reports Q3 NAV per share $10.26. "We are pleased to continue to find attractive risk adjusted returns in the core middle market with conservative portfolio company leverage, low PIK interest and covenant protections. Our exposure to the Government Services and Defense sector continues to outperform. We are delighted with the meaningful realization during the quarter from an equity co-investment in a leading defense technology company. The ramp of PSSL II continues on plan and should generate substantial earnings overtime," said Art Penn, Chairman and CEO.

PennantPark Prices $200M 6.75% Notes Offering

PennantPark Floating Rate Capital has priced an underwritten public offering of $200M aggregate principal amount of its 6.75% notes due 2029. 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. The offering is expected to close on or about March 4, 2026, subject to the satisfaction of customary closing conditions.The Company intends to use the net proceeds from the offering to repay our outstanding obligations under its revolving credit facility, to invest in new or existing portfolio companies and for general corporate or strategic purposes. Raymond James & Associates, Inc., Keefe, Bruyette & Woods, A Stifel Company, Citizens JMP Securities, LLC and Truist Securities, Inc. are acting as joint book-running managers for this offering. ING Financial Markets LLC, Oppenheimer & Co. Inc. and Regions Securities LLC are acting as co-managers for this offering.

PennantPark Floating Rate Announces Q4 EPS of 28c, Matching Expectations

Reports Q4 NAV per share $10.83. "Our investment portfolio continues to perform well and we remain confident in the continued resilience of the portfolio, supported by our disciplined focus on the core middle market. Investments in the core middle market typically feature attractive credit spreads, lower leverage, and enhanced lender protections relative to the upper middle market. Our portfolio has among the lowest PIK interest in the industry of only 1.8%, which is a result of our lower risk core middle market loans" said Art Penn, chairman and CEO. "Our NII remains stable given the interest rate environment and we are targeting growth in our NII as we ramp the new joint venture. We expect our dividend policy to remain stable at the present time, with support from a growing net investment income and to the extent necessary, spillover income of 25 cents per share," added Penn.