Pennantpark Floating Rate Cap - PFLT STOCK NEWS

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.

PennantPark Floating Rate Capital (NYSE: PFLT) has announced its monthly distribution for August 2024 of $0.1025 per share, payable on September 3, 2024, to stockholders of record as of August 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.

PFLT is a business development company primarily investing in U.S. middle-market private companies through floating rate senior secured loans. It is managed by PennantPark Investment Advisers, , a leading middle market credit platform managing $7.7 billion of investable capital.

PennantPark Floating Rate Capital (NYSE: PFLT) has successfully completed the reset and upsize of its CLO I, a $351.0 million debt securitization. The refinancing optimizes financing costs and enhances PFLT's return profile. Key features include:

- Four-year reinvestment period and twelve-year final maturity
- Reduced cost of capital and increased CLO size
- PFLT retains Class D-R Notes and Subordinated Notes
- Debt maturity extended to July 2036
- 100% funding at closing

PennantPark manages approximately $2.8 billion in middle market CLO assets and $7.7 billion of investable capital overall. The company aims to continue growth with investor support.

PennantPark Floating Rate Capital (NYSE: PFLT) announced it will release financial results for the third fiscal quarter ended June 30, 2024, on Wednesday, August 7, 2024, after market close.

The company will host a conference call on Thursday, August 8, 2024, at 9:00 a.m. ET to discuss these results. Participants can join the call by dialing toll-free (888) 204-4368 or (646) 828-8193 for international callers, using conference ID #5158165. A replay will be available on the company's website.

PennantPark Floating Rate Capital primarily invests in U.S. middle-market private companies through floating rate senior secured loans. It is managed by PennantPark Investment Advisers, , which oversees $7.5 billion in investable capital.

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.