PennantPark Floating Rate Capital Ltd. (PFLT): debt financing — PennantPark Floating Rate Capital closes $474.6M CLO securitization

PennantPark Floating Rate Capital Ltd.

Issued $220.5M AAA Class A-1 Notes at SOFR+1.49%, $85.1M subordinated notes.
Total debt includes $10M Class A-1L-A and $45M Class A-1L-B loans at SOFR+1.49%.
CLO matures April 20, 2037; backed by ~$423.6M par of middle-market loans.
Company retains Class D Notes and Subordinated Notes; collateral manager fees waived.
Issuer is subsidiary PennantPark CLO 11, LLC; proceeds to purchase additional loans through April 2029.

Key facts

Extracted from this filing and checked against the source text.

Debt Financings SEC 8-K Item 2.03/2.04 confidence 0.9

PennantPark Floating Rate Capital Ltd. incurred loan of $474.6 million with Western Alliance Trust Company, National Association maturing April 20, 2037.

Instrument: loan
Principal: $474.6 million
Counterparty: Western Alliance Trust Company, National Association
Maturity: April 20, 2037
Event: incurrence

Exact text from the filing

On February 20, 2025, (the “Closing Date”), PennantPark Floating Rate Capital Ltd. (the “Company”) completed a $474.6 million term debt securitization transaction (the “CLO Transaction”), also known as a collateralized loan obligation transaction, which is a form of secured financing incurred by the Company.

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PennantPark Floating Rate Capital Ltd. filing history →

Source: SEC EDGAR

accession 0000950170-25-025677

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