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PennantPark Floating Rate Capital Ltd. - PFLT STOCK NEWS

Welcome to our dedicated page for PennantPark Floating Rate Capital Ltd. news (Ticker: PFLT), a resource for investors and traders seeking the latest updates and insights on PennantPark Floating Rate Capital Ltd. stock.

PennantPark Floating Rate Capital Ltd. (NYSE: PFLT) is a closed-end, externally managed, non-diversified investment company that specializes in generating current income and capital appreciation. The company's core focus is investing in Floating Rate Loans and other investments made to U.S. middle-market companies. These loans offer an appealing risk-reward ratio for investors due to the limited capital available for such companies and the potential for rising interest rates.

Founded in 2007 and led by Arthur Penn, PennantPark Investment Advisers manages approximately $2.1 billion across its publicly-listed business development companies and private vehicles for institutional limited partners. The senior team at PennantPark has deep individual experience and a long-standing history of collaboration. As of June 30, 2023, PFLT’s portfolio totaled $1,105.3 million, consisting of $950.2 million in first lien secured debt, $0.1 million in second lien secured debt, and $154.9 million in preferred and common equity. The debt portfolio is 100% variable-rate, which provides a hedge against interest rate fluctuations.

PFLT generates revenue primarily through interest income on debt securities and dividends. For the three months ended June 30, 2023, PFLT reported an investment income of $37.7 million and a net investment income of $18.5 million. Recent developments include the issuance of 5,805,484 shares of common stock through the ATM Program, raising $64.1 million in net proceeds.

The company's portfolio includes investments in 130 companies with an average investment size of $8.5 million and a weighted average yield on debt investments of 12.4%. PFLT has also managed to maintain a low percentage of non-accrual portfolio companies, representing just 1% on a cost basis and zero percent on a fair value basis as of June 30, 2023.

Recent news highlights include financial results for the third quarter ended June 30, 2023, and announcements about new investments and portfolio adjustments. The company's commitment to providing flexible capital solutions to U.S. middle-market companies underscores its significance in the investment landscape.

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PennantPark Floating Rate Capital (NYSE: PFLT) has announced it will release its first fiscal quarter 2025 financial results on February 10, 2025, after market close. The company will host a conference call on February 11, 2025 at 9:00 a.m. ET to discuss the results.

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 secured debt, second lien secured debt, and subordinated debt. The company is managed by PennantPark Investment Advisers, , a middle market credit platform managing $8.9 billion of investable capital.

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PennantPark Floating Rate Capital (NYSE: PFLT) has announced its monthly distribution of $0.1025 per share for January 2025. The distribution will be payable on February 3, 2025, to stockholders of record as of January 15, 2025.

The distribution is expected to be sourced 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 secured debt, second lien secured debt, and subordinated debt. The company is managed by PennantPark Investment Advisers, , a middle market credit platform managing $8.9 billion of investable capital.

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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.

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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.

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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.

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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.

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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.

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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.

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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.

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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.

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FAQ

What is the current stock price of PennantPark Floating Rate Capital Ltd. (PFLT)?

The current stock price of PennantPark Floating Rate Capital Ltd. (PFLT) is $11.26 as of January 22, 2025.

What is the market cap of PennantPark Floating Rate Capital Ltd. (PFLT)?

The market cap of PennantPark Floating Rate Capital Ltd. (PFLT) is approximately 941.3M.

What is PennantPark Floating Rate Capital Ltd. (PFLT)?

PFLT is a closed-end, externally managed, non-diversified investment company focused on generating current income and capital appreciation by investing in Floating Rate Loans to U.S. middle-market companies.

What are Floating Rate Loans?

Floating Rate Loans are loans with variable interest rates that adjust periodically. PFLT invests in these loans, believing they offer an attractive risk-reward ratio.

Who manages PFLT?

PFLT is managed by PennantPark Investment Advisers, a firm with deep experience in providing capital solutions to middle-market companies.

What does PFLT's investment portfolio consist of?

As of June 30, 2023, PFLT's portfolio includes $950.2 million in first lien secured debt, $0.1 million in second lien secured debt, and $154.9 million in preferred and common equity.

How does PFLT generate revenue?

PFLT generates revenue primarily through interest income on debt securities and dividends from its investments.

What are the recent financial highlights of PFLT?

For the three months ended June 30, 2023, PFLT reported an investment income of $37.7 million and a net investment income of $18.5 million.

What is PFLT's approach to managing its debt portfolio?

PFLT's debt portfolio is 100% variable-rate, providing a hedge against interest rate fluctuations.

How many companies does PFLT's portfolio include?

As of June 30, 2023, PFLT's portfolio includes investments in 130 companies.

What is the average investment size in PFLT's portfolio?

The average investment size in PFLT's portfolio is $8.5 million.

What is the yield on PFLT's debt investments?

As of June 30, 2023, the weighted average yield on PFLT's debt investments is 12.4%.
PennantPark Floating Rate Capital Ltd.

NYSE:PFLT

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PFLT Stock Data

941.33M
82.38M
1.12%
22.74%
0.74%
Asset Management
Financial Services
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NEW YORK