PennantPark talks $100 million senior notes due 2026 at 4.75% area; pricing Wednesday

By Devika Patel

Knoxville, Tenn., April 14 – PennantPark Investment Corp. set price talk for at least $100 million of senior notes due May 1, 2026 (Egan-Jones: BBB) in the 4.75% area, according to a 424B2 and 497AD filed with the Securities and Exchange Commission.

The notes are expected to price on Wednesday

The SEC-registered notes feature a make-whole call until three months prior to maturity and then a par call.

Raymond James & Associates Inc., Keefe, Bruyette & Woods Inc., Truist Securities Inc. and J.P. Morgan Securities LLC are the bookrunners.

The co-managers are Compass Point Research & Trading LLC, JMP Securities LLC, Ladenburg Thalmann & Co. Inc. and Capital One Securities Inc.

Settlement is expected on April 21.

Proceeds will be used to repay debt under a credit facility and for general corporate or strategic purposes.

The business development company, which principally invests in U.S. middle-market private companies in the form of senior secured loans, mezzanine debt and equity investments, is based in New York.

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