PennantPark Floating Rate Capital Ltd. (PFLT): debt financing — PennantPark Floating Rate Capital closes $350.55M CLO, repays part of credit facility

PennantPark Floating Rate Capital Ltd.

Completed $350.55M term debt securitization (CLO); proceeds used to repay portion of $386M secured credit facility.
Issued $139.5M Class A-1 notes (SOFR+2.30%), $14M Class A-2 (SOFR+2.70%), $24.5M Class B (SOFR+2.90%).
Issued $28M Class C notes (SOFR+3.90%), $21M Class D (SOFR+5.90%), and $63.55M subordinated notes.
Also issued $60M Class A-1 floating rate loan (SOFR+2.30%); all debt matures April 18, 2036.
Collateral manager PennantPark Investment Advisers waived its management fees for the CLO.

item 1.01 item 2.03 item 9.01

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 $350.55 million maturing April 18, 2036.

Instrument: loan
Principal: $350.55 million
Maturity: April 18, 2036
Event: incurrence

Exact text from the filing

On February 22, 2024 (the “Closing Date”), PennantPark Floating Rate Capital Ltd. (the “Company”) completed a $350.55 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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Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

PennantPark Floating Rate Capital Ltd. entered into Credit Agreement with Wilmington Trust, National Association (effective 2024-02-22).

Action: entry
Agreement: credit facility
Counterparty: Wilmington Trust, National Association
Effective: 2024-02-22

Exact text from the filing

under a credit agreement (the “Credit Agreement”), dated as of the Closing Date, by and among the Issuer, as borrower, various financial institutions, as lenders, and Wilmington Trust, National Association, as collateral agent and as loan agent

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299 debt financings filed in the last 30 days. Browse all debt financings →

PennantPark Floating Rate Capital Ltd. filing history →

Source: SEC EDGAR

accession 0001193125-24-047922

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