By Susanna Moon
Chicago, Nov. 22 – PennantPark Floating Rate Capital Ltd. prices $138.7 million of 3.83% series A notes in an institutional offering in Israel.
The principal will be payable in four annual installments with 15% due Dec. 15, 2020, 15% due Dec. 15, 2021, 15% due Dec. 15, 2022 and 55% due Dec. 15, 2023, according to a company announcement.
The 2023 notes are general unsecured obligations and rank equal in right of payment with all of the company’s existing and future unsecured debt.
PennantPark is a business development company based in New York that primarily invests in U.S. middle-market private companies in the form of floating rate senior secured loans.
| Issuer: | PennantPark Floating Rate Capital Ltd.
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| Issue: | Notes
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| Amount: | $138.7 million
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| Maturity: | Dec. 15, 2023
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| Coupon: | 3.83%
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| Pricing date: | Nov. 22
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| Rating: | S&P Global Ratings Maalot Ltd.: ilAA-
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