PennantPark announces proposed offering of $25-par notes due 2025

By Stephanie N. Rotondo

Phoenix, Jan. 15 - PennantPark Investment Corp. is planning a sale of $25-par senior notes due Feb. 1, 2025, according to a prospectus filed with the Securities and Exchange Commission on Tuesday.

Stifel Nicolaus & Co., RBC Capital Markets LLC, Robert W. Baird & Co. Inc., Credit Suisse Securities (USA) Inc., Janney Montgomery Scott LLC, Ladenburg Thalmann & Co. Inc., Stephens Inc. and Sterne, Agee & Leach, Inc. are running the deal.

Interest will be payable quarterly beginning May 1.

The notes can be redeemed on or after Feb. 1, 2016 at par plus accrued interest.

PennantPark intends to list the notes on the New York Stock Exchange.

Proceeds will be used to reduce outstanding obligations under a credit facility, to invest in new or existing portfolio companies or for other general corporate or strategic purposes.

PennantPark is a closed-end, externally managed, non-diversified investment company that invests primarily in U.S. middle-market private companies.

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