PennantPark prices $100 million bond offering at 7.375% yield

PennantPark Floating Rate Capital Ltd. (NYSE: PFLT) announced the pricing of a $100 million public offering of 7.375% notes due 2031, according to a company statement.

The notes will mature on June 15, 2031, and can be redeemed by the company beginning June 15, 2028, at 100% of principal plus accrued interest with 30 to 60 days' written notice. The offering is expected to close around June 1, 2026, subject to standard closing conditions.

The notes are expected to be listed on the New York Stock Exchange within 30 days of issuance under the ticker symbol "PFLA." Underwriters have been granted a 30-day option to purchase an additional $15 million of notes to cover over-allotments.

The company plans to use proceeds to repay outstanding revolving credit facility obligations, invest in new or existing portfolio companies, and for general corporate purposes.

Morgan Stanley & Co. LLC, Goldman Sachs & Co. LLC, Keefe Bruyette & Woods, RBC Capital Markets LLC, and UBS Securities LLC serve as joint book-running managers. Oppenheimer & Co. Inc., Ladenburg Thalmann & Co. Inc., and Maxim Group LLC act as co-managers.

PennantPark Floating Rate Capital is a business development company that primarily invests in floating rate senior secured loans to U.S. middle-market companies. The company is managed by PennantPark Investment Advisers, LLC, which manages approximately $10 billion of investable capital.

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