PennantPark Investment Corporation (NYSE: PNNT) has sold its equity investment in JF Intermediate, LLC for $67.5 million, resulting in a gain of $63.1 million. The Company also increased its senior secured credit facility from $500 million to $535 million, with reduced pricing. Chairman and CEO Art Penn expressed gratitude to JF for the partnership and highlighted the liquidity and growth opportunities the transaction provides. The Credit Facility is secured by all of the Company’s assets and includes customary covenants. PennantPark Investment Corporation primarily invests in U.S. middle-market private companies. PennantPark Investment Advisers, LLC manages approximately $10 billion of investable capital.

Read more at GlobeNewswire: PennantPark Investment Corporation Exits Significant Equity