PennantPark Investment plans to sell $25-par five-year notes

By James McCandless

San Antonio, Sept. 24 – PennantPark Investment Corp. plans to price an offering of $25-par notes due Oct. 15, 2024, according to a press release and a filing with the Securities and Exchange Commission.

Keefe, Bruyette & Woods, Inc. and Morgan Stanley & Co. LLC are the joint bookrunners.

Co-managers are BB&T Capital Markets, Janney Montgomery Scott LLC, Ladenburg Thalmann & Co. Inc. and Maxim Group LLC.

The notes are redeemable on or after Oct. 15, 2021 at par.

PennantPark plans to use the proceeds to reduce outstanding obligations under its credit facilities and/or SBA debentures, to invest in new or existing portfolio companies or for other general corporate or strategic purposes.

The company plans to list the notes on the Nasdaq under the symbol “PNNTG.”

PennantPark is a New York City-based middle-market investment company.

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