Pennantpark Floating Rate Cap Stock Price, News & Analysis

PennantPark Floating Rate Capital Ltd. (NASDAQ: PFLT) announced a $300.7 million debt securitization through its subsidiary, PennantPark Senior Secured Loan Fund I, LLC (PSSL). The CLO features a three-year reinvestment period and matures in January 2032. Proceeds will partially repay PSSL's $325 million secured credit facility, with 95% expected funding at close. The structured debt includes various classes rated between AAA and BB-. PSSL retains Class E and Subordinated Notes.

PennantPark Floating Rate Capital Ltd. (NASDAQ: PFLT) announced a monthly distribution of $0.095 per share for December 2020, payable on January 4, 2021, to shareholders of record by December 17, 2020. This distribution will be sourced from taxable net investment income. The company operates as a regulated investment company (RIC), allowing certain distributions to be exempt from U.S. withholding tax for non-U.S. shareholders with proper documentation. PennantPark primarily invests in U.S. middle-market companies through floating rate loans and has about $3.5 billion in assets under management.

PennantPark Floating Rate Capital Ltd. (PFLT) reported its financial results for Q4 and fiscal year ending September 30, 2020. Key highlights include:

• Investment portfolio total: $1,086.9 million.
• Net investment income for Q4: $10.3 million, or $0.27 per share.
• GAAP net asset value per share: $12.31, a 1.2% increase.
• Weighted average yield on debt investments: 7.3%.
• Distributions declared per share: $0.285.

The company anticipates portfolio strength and growth due to solid performance and optimization of financing.

PennantPark Floating Rate Capital Ltd. (NASDAQ: PFLT) has announced a monthly distribution of $0.095 per share for November 2020, payable on December 1, 2020, to stockholders of record by November 17, 2020. The distribution will come from taxable net investment income and specific tax characteristics will be reported on Form 1099. As a regulated investment company, PFLT generates income that may be exempt from U.S. withholding tax for non-U.S. stockholders. PennantPark focuses on investments in U.S. middle-market private companies, primarily through floating rate senior secured loans.

PennantPark Floating Rate Capital Ltd. (NASDAQ: PFLT) announced it will release its fiscal Q4 results for the period ended September 30, 2020, on November 18, 2020, after market close. A conference call to discuss the results will occur on November 19, 2020, at 10:00 a.m. ET. Interested parties can join by calling toll-free (888) 394-8218. PennantPark focuses on investments in middle-market private companies primarily through floating rate senior secured loans, with approximately $3.6 billion in assets under management.

PennantPark Floating Rate Capital Ltd. (NASDAQ: PFLT) announced a monthly distribution of $0.095 per share for October 2020, payable on November 2, 2020. Stockholders of record as of October 21, 2020 will benefit from this distribution, which is expected to come from taxable net investment income. The Company operates as a regulated investment company generating qualified interest income and short-term capital gains, which may be exempt from U.S. withholding tax for non-U.S. stockholders. Specific tax characteristics will be reported on Form 1099 post-year-end.

PennantPark Floating Rate Capital Ltd. (NASDAQ: PFLT) reported its Q3 financial results for the period ending June 30, 2020, revealing a net investment income of $10.2 million ($0.26 per share) and a total investment portfolio of $1,104.4 million. The adjusted net asset value per share increased by 3.1% to $11.44. Despite achieving reduced leverage and increased liquidity, the company faced significant unrealized depreciation of $49.9 million in its portfolio, largely attributed to the adverse effects of the COVID-19 pandemic. Total declared distributions were $0.285 per share, with a regulatory debt-to-equity ratio of 1.62x.

PennantPark Floating Rate Capital Ltd. (NASDAQ: PFLT) has announced a monthly distribution of $0.095 per share for August 2020, payable on September 1, 2020, to stockholders on record as of August 19, 2020. This distribution comes from taxable net investment income and details regarding tax characteristics will be reported in Form 1099. Operating as a regulated investment company, PennantPark primarily invests in U.S. middle-market companies via floating rate senior secured loans.

PennantPark Floating Rate Capital Ltd. (NASDAQ: PFLT) will report its third fiscal quarter results for the period ending June 30, 2020, on August 5, 2020, after market close. A conference call is scheduled for August 6, 2020, at 10:00 a.m. ET, where the Company will discuss its financial performance. Interested parties can join the call by dialing the provided numbers. PennantPark primarily invests in U.S. middle-market private companies through floating rate senior secured loans and has a managed portfolio worth $3.7 billion.