PennantPark Floating Rate Capital Ltd. increased credit facility to $736 million, enhancing ability to serve clients.

From GlobeNewswire: 2024-12-26 16:05:00

PennantPark Floating Rate Capital Ltd. upsized its credit facility to $736 million, led by Truist Bank, with pricing at SOFR plus 225 basis points. The increased facility will allow the company to serve middle-market clients with senior secured solutions. The Credit Facility is secured by all assets of PennantPark Floating Rate Funding I, LLC, a subsidiary of the company, and includes customary covenants. PennantPark Floating Rate Capital Ltd. primarily invests in U.S. middle-market private companies through floating rate senior secured loans. The company is managed by PennantPark Investment Advisers, LLC, a leading middle-market credit platform managing approximately $8.9 billion.



Read more at GlobeNewswire: PennantPark Floating Rate Capital Ltd. Upsizes Credit