PennantPark Floating Rate Capital Ltd. - PFLT STOCK NEWS

PennantPark Floating Rate Capital (NYSE: PFLT) announced a monthly distribution of $0.1025 per share for July 2024. The distribution will be payable on August 1, 2024, to stockholders of record as of July 15, 2024. This payment is expected to come from taxable net investment income. The specific tax characteristics will be detailed on Form 1099 post the end of the calendar year and included in the Company's periodic SEC reports. PFLT, a regulated investment company, primarily invests in U.S. middle-market private companies through floating rate senior secured loans. Managed by PennantPark Investment Advisers, the company generates qualified interest income and short-term capital gains which may be exempt from U.S. withholding tax for non-U.S. stockholders with proper documentation. Detailed tax information will be available on the company's website.

PennantPark Floating Rate Capital (NYSE: PFLT) has announced an increase in its credit facility to $611 million from $436 million, led by Truist Bank. The pricing remains at SOFR plus 236 basis points. Arthur Penn, CEO, emphasized the support from existing lending partners and the strategic benefits this expansion brings, including higher yields and lower leverage. The credit facility is secured by all assets of PennantPark Floating Rate Funding I, , a subsidiary of the company, and includes customary covenants.

PennantPark Floating Rate Capital primarily invests in U.S. middle-market private companies through floating rate senior secured loans. Managed by PennantPark Investment Advisers, the company is part of a broader credit platform with $7.5 billion in investable capital. The firm was founded in 2007 and offers flexible financing solutions to middle market borrowers.

PennantPark Floating Rate Capital (NYSE: PFLT) has declared a monthly distribution for June 2024 of $0.1025 per share. This distribution will be payable on July 1, 2024, to stockholders of record as of June 14, 2024. The payment is expected to come from taxable net investment income. Specific tax characteristics will be provided on Form 1099 after the year ends and in periodic reports filed with the SEC. As a regulated investment company (RIC), PennantPark Floating Rate Capital generates qualified interest income and short-term capital gains. These gains 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 occasionally in equity investments. Managed by PennantPark Investment Advisers, which oversees $7.5 billion of investable capital, the firm offers a range of creative and flexible financing solutions to middle-market borrowers.

PennantPark Floating Rate Capital (PFLT) announced that its joint venture, PennantPark Senior Secured Loan Fund I (PSSL), via its subsidiary PennantPark CLO II, , has completed a $300.7 million refinancing of a collateralized loan obligation (CLO). The deal includes a four-year reinvestment period and twelve-year maturity. The debt is structured across various tranches with different interest rates and ratings. PennantPark aims to lower the cost of capital and enhance its platform's capital strength. CEO Arthur Penn highlighted the $2.8 billion in managed CLO middle market assets and future growth potential. PSSL will retain the Preferred Shares and Class E-R Notes, and Capital One Securities acted as the Lead Placement Agent, with GreensLedge Capital Markets as Co-Placement Agent.

PennantPark Floating Rate Capital reported financial results for Q2 2024, with net assets of $720.7 million and a net asset value per share of $11.40, a 1.8% increase. The company's investment portfolio totaled $1,477.9 million, with a weighted average yield on debt investments of 12.3%. Net investment income per share was $0.31. The company declared distributions of $0.31 per share. PSSL investment portfolio stood at $869.7 million with a weighted average yield on debt investments of 12.0%. For Q2 2024, investment income was $44.4 million, expenses were $25.3 million, and net investment income was $19.1 million. Net change in net assets from operations was $31.1 million.

PennantPark Floating Rate Capital (NYSE: PFLT) announces a monthly distribution of $0.1025 per share for May 2024, payable on June 3, 2024. The distribution is expected to be paid from taxable net investment income. The Company operates as a regulated investment company and may offer tax benefits to non-U.S. stockholders. The specific tax characteristics of the distribution will be reported to stockholders on Form 1099 after the calendar year. PennantPark Floating Rate Capital primarily invests in U.S. middle-market private companies through various debt instruments and is managed by PennantPark Investment Advisers,

PennantPark Floating Rate Capital will announce its second fiscal quarter results on May 8, 2024, followed by a conference call on May 9, 2024. Interested parties can join the call to discuss the financial outcomes.

PennantPark Floating Rate Capital (PFLT) declares a monthly distribution of $0.1025 per share for April 2024, payable on May 1, 2024. The distribution is expected to be paid from taxable net investment income, with specific tax characteristics to be reported later. The Company, a regulated investment company, generates qualified interest income and short-term capital gains, potentially exempt from U.S. withholding tax for non-U.S. stockholders.

PennantPark Floating Rate Capital Ltd. (PFLT) declares a monthly distribution for March 2024 of $0.1025 per share, payable on April 1, 2024. The distribution is expected to be paid from taxable net investment income, with specific tax characteristics to be reported to stockholders. The company, operating as a regulated investment company, generates qualified interest income and short-term capital gains that may be exempt from U.S. withholding tax for non-U.S. stockholders.