GlobeNewsWire
27 May 2026, 21:45 UTC · 1h ago
Source · https://www.globenewswire.com/news-release/2026/05/27/3302432/0/en/PennantPark-Floating-Rate-Capital-Ltd-Prices-Public-Offering-of-100-Million-7-375-Notes-due-2031.html
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The company intends to use the net proceeds to repay its revolving credit facility and invest in new or existing portfolio companies. — Using proceeds for new investments suggests a growth strategy, while repaying revolving credit improves the balance sheet structure.
+0.20PennantPark Floating Rate Capital Ltd. has priced a $100 million public offering of 7.375% notes due 2031. — The offering increases the company's leverage but provides a clear cost of capital (7.375%) for its funding activities.
+0.10Underwriters have been granted a 30-day option to purchase up to an additional $15 million in notes. — This is a standard over-allotment option that provides a slight potential for increased capital inflow.
+0.05Ticker attribution
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The company is raising $100 million in capital to repay debt and invest in new portfolio companies.
Goldman Sachs is acting as a joint book-running manager for the offering, generating fee income.
Morgan Stanley is acting as a joint book-running manager for the offering, generating fee income.
RBC Capital Markets is acting as a joint book-running manager for the offering, generating fee income.
UBS Securities is acting as a joint book-running manager for the offering, generating fee income.
[a_to_b] Goldman Sachs is acting as a joint book-running manager for PennantPark's public offering of notes.
[a_to_b] Morgan Stanley is acting as a joint book-running manager for PennantPark's public offering of notes.
[a_to_b] UBS Securities is acting as a joint book-running manager for PennantPark's public offering of notes.
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