From GlobeNewswire: 2024-11-25 16:05:00

PennantPark Floating Rate Capital Ltd. (NYSE: PFLT) released financial results for Q4 and fiscal year ending September 30, 2024. Key figures include $1,983.5 million in investment portfolio, $18.0 million in net investment income for the quarter, and $11.31 GAAP net asset value per share. The Company will hold a conference call on November 26, 2024, at 9:00 a.m. ET to discuss these results.

The portfolio as of September 30, 2024, totaled $1,983.5 million, with investments primarily in first lien secured debt. The debt portfolio had a weighted average yield of 11.5%. Two portfolio companies were on non-accrual, representing 0.4% and 0.2% of the overall portfolio on a cost and fair value basis. For the year ended September 30, 2024, investments totaled $1,407.5 million, with a weighted average yield of 11.4%.

PennantPark Senior Secured Loan Fund I LLC’s portfolio totaled $913.3 million as of September 30, 2024. Investments in new and existing companies yielded 11.7%. For the year ended September 30, 2024, investments totaled $286.2 million. The Company reported net investment income of $77.7 million for the year and $0.24 per share for the quarter ended September 30, 2024.

Expenses for the three months and year ended September 30, 2024, totaled $37.5 million and $108.6 million, respectively. Base management fees, incentive fees, debt-related interest, and expenses were among the expenses incurred. Net change in net assets resulting from operations for the quarter ended September 30, 2024, was $21.3 million, or $0.29 per share, compared to $28.0 million for the same period in 2023.

PennantPark Floating Rate Capital Ltd. is a business development company investing in U.S. middle-market companies through floating rate senior secured loans. Managed by PennantPark Investment Advisers, LLC, the Company manages $8.3 billion in investable capital. Forward-looking statements in this press release highlight potential risks and uncertainties that could impact future performance.



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