By James McCandless
San Antonio, Sept. 24 – PennantPark Investment Corp. priced a $75 million offering of $25-par five-year notes at par with a coupon of 5.5%, according to a press release.
There is an $11.25 million greenshoe.
The deal was announced Tuesday morning.
Keefe, Bruyette & Woods, Inc. and Morgan Stanley & Co. LLC are the joint bookrunners.
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.
| Issuer: | PennantPark Investment Corp.
|
| Description: | Notes
|
| Amount: | $75 million
|
| Greenshoe: | $11.25 million
|
| Bookrunners: | Keefe, Bruyette & Woods, Inc. and Morgan Stanley & Co. LLC
|
| Co-managers: | BB&T Capital Markets, Janney Montgomery Scott LLC, Ladenburg Thalmann & Co. Inc. and Maxim Group LLC
|
| Coupon: | 5.5%
|
| Price: | Par of $25.00
|
| Yield: | 5.5%
|
| Call: | On or after Oct. 15, 2021 at par
|
| Pricing date: | Sept. 24
|
| Settlement date: | Sept. 27
|
| Distribution: | SEC registered
|
| Listing: | Nasdaq: PNNTG
|
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