Welcome to our dedicated page for Pennantpark Floating Rate Cap news (Ticker: PFLT), a resource for investors and traders seeking the latest updates and insights on Pennantpark Floating Rate Cap stock.
PennantPark Floating Rate Capital Ltd. (NYSE: PFLT) is a closed-end, externally managed investment company that regularly reports on its activities in the U.S. middle-market credit space. The company focuses on floating rate loans and other investments made to U.S. middle-market companies, and its news flow reflects this focus through detailed portfolio and earnings updates.
News releases from PennantPark Floating Rate Capital Ltd. commonly cover quarterly and annual financial results, including net investment income, realized and unrealized gains or losses, and changes in net asset value. These announcements also provide insight into the composition of the investment portfolio, such as the mix of first lien secured debt, subordinated debt, and preferred and common equity, as well as the number of portfolio companies and the weighted average yield on debt investments.
The company frequently issues press releases announcing monthly distributions on its common stock, specifying the per-share amount, record date, and payment date. These distribution announcements are often accompanied by explanations that the distributions are expected to be paid from taxable net investment income, with final tax characteristics reported to stockholders and in SEC filings. Additional news items include scheduling notices for earnings releases and conference calls, where management discusses financial results and portfolio performance.
Investors following PFLT news can also see updates related to its joint ventures, such as portfolio statistics for PennantPark Senior Secured Loan Fund I LLC (PSSL) and financing arrangements involving PennantPark Senior Secured Loan Fund II LLC (PSSL II). For ongoing insight into the company’s credit investment activity, income generation, and capital structure developments, this news feed aggregates the company’s press releases and related disclosures.
PennantPark Floating Rate Capital Ltd. (NASDAQ: PFLT) announced the closure of a $300.7 million collateralized loan obligation (CLO) via its subsidiary, PennantPark Senior Secured Loan Fund I, LLC. This 11-year CLO features a three-year reinvestment period and aims to enhance returns while tapping into low-cost, long-term financing. The proceeds will partially repay a $325 million secured credit facility. The transaction is approximately 95% funded at close, indicating strong investor confidence.
PennantPark Floating Rate Capital Ltd. (NASDAQ: PFLT) announced it will report its first fiscal quarter results for the period ending December 31, 2020, on February 9, 2021, after market close. A conference call is scheduled for February 10 at 10:00 a.m. ET, accessible via toll-free numbers for domestic and international callers. The company primarily invests in floating rate senior secured loans to U.S. middle-market private companies and is managed by PennantPark Investment Advisers, LLC, which oversees approximately $3.5 billion in assets.
PennantPark Floating Rate Capital Ltd. (NASDAQ: PFLT) announced a monthly distribution of $0.095 per share for January 2021, payable on February 1, 2021, to stockholders of record by January 19, 2021. This distribution will primarily come from taxable net investment income. As a regulated investment company (RIC), PFLT generates interest income that may be exempt from U.S. withholding tax for non-U.S. investors, provided they submit the necessary documentation. Further tax details will be reported on Form 1099 later in the year.
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.
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