PennantPark Floating Rate Capital Prices $100 Million Notes Due 2031
PennantPark Floating Rate Capital Ltd. priced a public offering of $100 million in 7.375 percent notes maturing in 2031. The company also granted underwriters an option for an additional $15 million in notes.
manilatimes.netPennantPark Floating Rate Capital Ltd. 375 percent notes due 2031. The notes will mature on June 15, 2031. They may be redeemed in whole or in part at the company's option beginning June 15, 2028, with at least 30 days' and no more than 60 days' written notice, at 100 percent of principal plus accrued interest.
The offering is expected to close on or about June 1, 2026, subject to customary conditions. The notes are expected to be listed on the New York Stock Exchange under the symbol "PFLA" within 30 days of issuance. The company granted underwriters a 30-day option to purchase up to an additional $15 million aggregate principal amount of notes at the same price and terms to cover over-allotments.
Net proceeds will be used to repay outstanding obligations under the company's revolving credit facility, to invest in new or existing portfolio companies, and for general corporate or strategic purposes. Morgan Stanley & Co. LLC, Goldman Sachs & Co.
LLC, Keefe, Bruyette & Woods, RBC Capital Markets, LLC and UBS Securities LLC are acting as joint book-running managers. Oppenheimer & Co. , Ladenburg Thalmann & Co. Inc. and Maxim Group LLC are acting as co-managers.
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