Pennantpark Floating Rate Cap Stock Price, News & Analysis

PennantPark Floating Rate Capital (PFLT) has expanded its credit facility, led by Truist Bank, from $636 million to $736 million. The pricing remains at SOFR plus 225 basis points. The facility is secured by assets held by PennantPark Floating Rate Funding I, , a wholly-owned subsidiary.

The company expects this increased facility to enhance its ability to serve middle-market sponsors and borrowers with comprehensive senior secured solutions. PFLT focuses on the core middle market, where it believes it can achieve attractive risk-adjusted returns with higher yields, lower leverage, and stronger covenants compared to the upper middle market.

PennantPark Floating Rate Capital (PFLT) announced an expansion of its investment in PennantPark Senior Secured Loan Fund I (PSSL). The joint venture partners agreed to invest an additional $100 million of capital in PSSL. Combined with increased leverage capacity, this investment will expand the JV's total investment capacity to $1.5 billion, representing a nearly $500 million increase.

The strategic partnership, established over seven years ago, focuses on core middle market senior secured loans and has generated strong returns. PFLT is managed by PennantPark Investment Advisers, , a middle market credit platform managing approximately $8.7 billion of investible capital.

PennantPark Floating Rate Capital (NYSE: PFLT) has announced its monthly distribution of $0.1025 per share for December 2024, payable on January 2, 2025, to stockholders of record as of December 16, 2024. The distribution will be sourced from taxable net investment income.

The company operates as a regulated investment company (RIC) that generates qualified interest income and short-term capital gains. These may be exempt from U.S. withholding tax when distributed to non-U.S. stockholders with proper documentation. PFLT primarily invests in U.S. middle-market private companies through floating rate senior secured loans and is managed by PennantPark Investment Advisers, , which manages $8.7 billion of investable capital.

PennantPark Floating Rate Capital (NYSE: PFLT) reported financial results for Q4 and fiscal year 2024. The investment portfolio totaled $1,983.5 million, with net assets of $877.3 million. Net investment income for Q4 was $18.0 million ($0.24 per share) and $77.7 million ($1.18 per share) for the full year. The portfolio consisted of 88% first lien secured debt with a weighted average yield of 11.5%. The company declared distributions of $0.31 per share for Q4 and $1.23 for the year. Two portfolio companies were on non-accrual, representing 0.4% of the portfolio on a cost basis.

PennantPark Floating Rate Capital (NYSE: PFLT) has announced its monthly distribution of $0.1025 per share for November 2024, payable on December 2, 2024, to stockholders of record as of November 15, 2024. The distribution will 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. The company primarily invests in U.S. middle-market private companies through floating rate senior secured loans and is managed by PennantPark Investment Advisers, which oversees $8.3 billion in investable capital.

PennantPark Floating Rate Capital (NYSE: PFLT) has announced its schedule for the release of fourth fiscal quarter 2024 results. The company will report its financial results on Monday, November 25, 2024, after the close of financial markets. Additionally, PFLT will host a conference call on Tuesday, November 26, 2024, at 9:00 a.m. (Eastern Time) to discuss the results.

Interested parties can join the conference call by dialing (888) 394-8218 (toll-free) or (646) 828-8193 (international), referencing conference ID #3226260. An archived replay will be available on the company's website. PFLT is a business development company primarily investing in U.S. middle-market private companies through various forms of floating rate senior secured loans.

PennantPark Floating Rate Capital (NYSE: PFLT) has announced its monthly distribution for October 2024. The company will pay $0.1025 per share on November 1, 2024, to stockholders of record as of October 16, 2024. This distribution is expected to be paid 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. The company primarily invests 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.

PennantPark Floating Rate Capital is managed by PennantPark Investment Advisers, , a leading middle market credit platform managing $8.0 billion of investable capital, including potential leverage.

PennantPark Floating Rate Capital (NYSE: PFLT) has announced its monthly distribution for September 2024. Shareholders will receive $0.1025 per share, payable on October 1, 2024, to stockholders of record as of September 16, 2024. The distribution is expected to be paid 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. The company primarily invests in U.S. middle-market private companies through floating rate senior secured loans, including first lien, second lien, and subordinated debt. PennantPark Investment Advisers, manages PFLT and oversees $8.0 billion of investable capital.

PennantPark Floating Rate Capital (PFLT) reported its Q3 2024 financial results for the period ending June 30, 2024. The company's investment portfolio reached $1,658.9 million, with net assets at $816.7 million and a GAAP net asset value per share of $11.34. Net investment income was $21.2 million or $0.31 per share. PFLT declared a distribution of $0.31 per share.

Investment income for the quarter was $48.5 million. The portfolio saw purchases of investments totaling $320.9 million and sales and repayments of $137.6 million. The PSSL portfolio was valued at $904.2 million. Net realized gains were $(0.4) million, while net change in unrealized appreciation (depreciation) was $(4.0) million.

Total expenses for the quarter were $27.3 million, up from $19.2 million in the same period last year, primarily due to higher interest expenses and management fees. PFLT's portfolio had three companies on non-accrual, representing 1.5% and 1.1% of the portfolio on a cost and fair value basis, respectively.