PennantPark Floating Rate Capital Prices $100M of 7.375% Notes Due 2031 with $15M Over-Allotment Option
PFLT•PennantPark Floating Rate Capital Ltd. has priced $100 million of 7.375% notes due June 15, 2031, callable at par plus accrued interest from June 15, 2028. The offering, which includes a 30-day option for an extra $15 million, will close on June 1 and fund revolver repayment and portfolio investments.
1. Offering Terms
PennantPark has completed an underwritten public offering of $100 million aggregate principal amount of 7.375% notes maturing June 15, 2031. The company granted underwriters a 30-day over-allotment option to purchase up to an additional $15 million of notes on the same terms.
2. Redemption and Listing
The notes are callable at 100% of principal plus accrued and unpaid interest any time on or after June 15, 2028, with 30-to-60 days’ notice. They are expected to list and commence trading on the New York Stock Exchange under the symbol PFLA within 30 days of issuance.
3. Use of Proceeds
Net proceeds from the offering are earmarked to repay outstanding obligations under the company’s revolving credit facility, invest in new or existing portfolio companies, and support general corporate or strategic purposes.
