Pennantpark Floating Rate Cap SEC Filings

PennantPark Floating Rate Capital Ltd. issued $105,000,000 aggregate principal amount of its 7.375% Notes due 2031, including $5,000,000 from a partial over‑allotment exercise. The company received approximately $101.19 million in net proceeds.

The notes mature on June 15, 2031, are callable at the company’s option on or after June 15, 2028, and pay 7.375% interest per year, quarterly in arrears starting September 15, 2026. PennantPark Floating Rate intends to use the proceeds to repay its revolving credit facility, invest in portfolio companies, and for general corporate or strategic purposes.

The notes are unsecured obligations ranking pari passu with existing and future unsecured unsubordinated debt, senior to future subordinated debt and preferred stock, and effectively or structurally subordinated to secured and subsidiary-level obligations. The notes are expected to list on the NYSE under the symbol PFLA.

PennantPark Floating Rate Capital Ltd. is offering $100.0 million aggregate principal amount of 7.375% Notes due 2031. The Notes mature on June 15, 2031, pay interest quarterly beginning September 15, 2026, and are unsecured, pari passu with the company’s unsecured debt.

The company intends to use net proceeds (approximately $96.35 million) to repay amounts under its Credit Facility and to invest in portfolio companies and for general corporate purposes; the offering is subject to optional redemption on or after June 15, 2028.

PennantPark Floating Rate Capital Ltd. entered an underwriting agreement for a $100 million offering of its 7.375% Notes due 2031, with closing expected on June 1, 2026 subject to customary conditions. Underwriters also have a 30-day option to purchase up to an additional $15 million of these notes.

The company plans to use net proceeds to repay outstanding amounts under its revolving credit facility, invest in new or existing portfolio companies, and for general corporate or strategic purposes. The notes are expected to be listed on the New York Stock Exchange within 30 days of June 1, 2026 under the symbol PFLA, and the transaction is being conducted off an effective shelf registration on Form N-2.

PennantPark Floating Rate Capital Ltd. director Jose A. Briones reported an open-market purchase of 5,770 shares of Common Stock at $8.669 per share. Following this transaction, he directly holds 348,083 shares and has an additional 8,001 shares held indirectly through his spouse.

PennantPark Floating Rate Capital Ltd. (PFLT) provides a detailed schedule of its portfolio focused mainly on first lien secured debt to non-controlled, non-affiliated companies across many industries, including healthcare, business services, media, aerospace and defense, and consumer products.

Individual loans generally carry floating coupons in the high single to low double digits, such as 8–11%, often expressed as spreads over SOFR or 3‑month SOFR (for example SOFR+450 to SOFR+675). The portfolio also includes funded and unfunded revolvers, term loans, preferred equity, and common equity or warrants, with some higher-yield instruments like preferred and subordinate debt showing coupons up to 20%.

PennantPark Floating Rate Capital Ltd. reported second-quarter results showing stable income but lower per-share metrics and a reset dividend framework. For the quarter ended March 31, 2026, net investment income was $25.7 million, or $0.26 per share, versus $0.28 a year earlier. Net asset value per share was $10.47, down from $10.83 as of September 30, 2025, with a 0.2% quarterly NAV decline. The investment portfolio totaled $2.58 billion, with about 99% in variable-rate debt and only three non-accruals representing 0.5% of fair value. The company declared quarterly-equivalent distributions of $0.3075 per share but plans to cut the base monthly dividend to $0.08 per share starting with the July distribution, adding a variable supplemental amount linked to net investment income. Leverage stood at a 1.61x debt-to-equity ratio, and the annualized weighted average cost of debt for the six months ended March 31, 2026 was 6.1%, down from 6.8% a year earlier.

PennantPark Floating Rate Capital Ltd. declared a monthly cash distribution for May 2026 of $0.1025 per share, payable on June 1, 2026 to stockholders of record as of May 15, 2026. The distribution is expected to come from taxable net investment income, with final tax treatment reported on Form 1099 and in periodic SEC reports after year-end.

The company operates as a regulated investment company, which allows portions of its payouts, such as qualified interest income and certain short-term capital gains, to be treated as interest-related dividends that may be exempt from U.S. withholding tax for eligible non-U.S. stockholders. PennantPark Floating Rate Capital Ltd. is a business development company focused on floating rate senior secured loans to U.S. middle-market private companies and is managed by PennantPark Investment Advisers, LLC, which oversees approximately $10 billion of investable capital.

PennantPark Floating Rate Capital Ltd. announced timing for its upcoming financial update. The company plans to release results for its second fiscal quarter ended March 31, 2026 after the market close on Thursday, May 7, 2026.

Management will host a conference call at 9:00 a.m. Eastern Time on Friday, May 8, 2026 to discuss the results, with both U.S. and international dial-in numbers and a replay available via webcast on its investor relations website. The company reminds readers that statements about future performance are forward-looking and subject to risks described in its SEC filings.