PennantPark Floating Rate Capital Q1 NII $0.27/sh, NAV down 3.1% to $10.49

PennantPark Floating Rate Capital Ltd.

Net investment income $26.6M ($0.27/sh); distribution $0.3075/sh, NII coverage 87.7%.
NAV fell 3.1% to $10.49; portfolio yield 9.9%; non-accruals 0.1% fair value.
New JV PSSL II invested ~$200M, upsized credit facility to $250M post quarter end.
Net realized/unrealized loss of $30.2M led to $3.6M net decrease in net assets.
Debt-to-equity 1.57x; weighted avg cost of debt 6.2%; $279.1M unused borrowing capacity.

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