Pennantpark Floating Rate Cap Stock Price, News & Analysis

PennantPark Floating Rate Capital (NYSE: PFLT) has announced its monthly distribution of $0.1025 per share for May 2025. The distribution will be payable on June 2, 2025, to stockholders of record as of May 15, 2025. The payment is expected to be sourced from taxable net investment income.

PFLT operates as a business development company focusing on U.S. middle-market private companies, primarily investing in floating rate senior secured loans. The company is managed by PennantPark Investment Advisers, LLC, a middle market credit platform managing approximately $10 billion of investable capital.

PennantPark Floating Rate Capital (PFLT) has successfully amended its credit facility agreement with Truist Bank, securing more favorable terms. The key changes include:

- Reduced pricing from SOFR plus 225 basis points to SOFR plus 200 basis points
- Extended reinvestment period by one year to August 2028
- Extended maturity date by one year to August 2030
- Increased maximum first lien advance rate from 70.0% to 72.5%
- Slight reduction in commitments from $736 million to $718 million

The Credit Facility is secured by assets held by PennantPark Floating Rate Funding I, , a wholly-owned subsidiary, and includes standard covenants for minimum asset coverage and equity requirements.

PennantPark Floating Rate Capital (NYSE: PFLT) has announced the completion of a $301 million debt securitization through its joint venture PSSL's subsidiary, PennantPark CLO 12. The collateralized loan obligation (CLO) features a four-year reinvestment period and twelve-year final maturity.

The securitization is structured across multiple classes, with AAA-rated tranches comprising the majority of the capital structure. The proceeds will be used to repay a portion of PSSL's $325 million secured credit facility. PSSL will retain all Subordinated Notes through a consolidated subsidiary.

This marks PennantPark's lowest AAA pricing in its platform's history, with the company now managing approximately $4.0 billion in CLO middle market assets. The reinvestment period ends in April 2029, with debt maturity scheduled for April 2037. CIBC World Markets Corp. served as lead placement agent for the securitization.

PennantPark Floating Rate Capital (NYSE: PFLT) has announced it will release its second fiscal quarter 2025 financial results on Monday, May 12, 2025 after market close. The company will host a conference call to discuss the results on Tuesday, May 13, 2025 at 9:00 a.m. ET.

PFLT operates as a business development company primarily investing 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. The company is managed by PennantPark Investment Advisers, , a middle market credit platform managing $9.8 billion of investable capital.

PennantPark Floating Rate Capital (NYSE: PFLT) has announced its monthly distribution of $0.1025 per share for April 2025. The distribution will be payable on May 1, 2025, to stockholders of record as of April 15, 2025.

The distribution is expected to be funded from taxable net investment income. As a regulated investment company (RIC), PFLT generates qualified interest income and short-term capital gains that may be exempt from U.S. withholding tax for non-U.S. stockholders with proper documentation.

PFLT operates as a business development company focusing on U.S. middle-market private companies, primarily investing in floating rate senior secured loans, including first lien, second lien, and subordinated debt. The company is managed by PennantPark Investment Advisers, , a middle market credit platform managing $9.8 billion of investable capital.

PennantPark Floating Rate Capital (NYSE: PFLT) has announced its monthly distribution of $0.1025 per share for March 2025. The distribution will be payable on April 1, 2025, to stockholders of record as of March 14, 2025.

The distribution is expected to be funded from taxable net investment income. As a regulated investment company (RIC), PFLT generates qualified interest income and short-term capital gains that may be exempt from U.S. withholding tax for non-U.S. stockholders with proper documentation.

PFLT operates as a business development company primarily investing 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. The company is managed by PennantPark Investment Advisers, , a middle market credit platform managing $9.5 billion of investable capital.

PennantPark Floating Rate Capital (PFLT) has completed a $474.6 million term debt securitization through a collateralized loan obligation (CLO) with a four-year reinvestment period and twelve-year final maturity. The transaction features a weighted average spread of 159 basis points on $361 million of financing, representing a 66-basis point reduction from the previous bank facility.

This marks PFLT's lowest spread debt financing in its 14-year history. The company has expanded its investor base to over 75 unique investors across its securitization platform. The reinvestment period ends in April 2029, with debt maturity scheduled for April 2037. The term debt securitization is expected to be approximately 100% funded at close, with PFLT retaining the Class D Notes and Subordinated Notes.

PennantPark Investment Advisers currently manages approximately $3.7 billion in CLO assets. GreensLedge Capital Markets served as lead placement agent for the transaction.