PennantPark intends to price notes due 2026 via three bookrunners

By Devika Patel

Knoxville, Tenn., March 18 – PennantPark Floating Rate Capital Ltd. plans to offer notes due 2026, according to a 424B2 filed with the Securities and Exchange Commission.

The notes feature a make-whole call initially and then a par call.

Goldman Sachs & Co. LLC, Keefe, Bruyette & Woods Inc. and Truist Securities Inc. are the bookrunners. JMP Securities LLC and Ladenburg Thalmann & Co. Inc. are the co-managers.

Proceeds will be used to reduce borrowings under the company’s credit facility, to invest in new or existing portfolio companies or for other general corporate or strategic purposes.

PennantPark Floating Rate Capital is managed by New York-based PennantPark Investment Advisers, LLC. The business development company invests primarily in U.S. middle-market private companies in the form of floating-rate senior secured loans.

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