{"id":837665,"date":"2025-04-15T16:10:45","date_gmt":"2025-04-15T20:10:45","guid":{"rendered":"https:\/\/www.marketnewsdesk.com\/index.php\/pennantpark-floating-rate-capital-ltd-s-unconsolidated-joint-venture-pennantpark-senior-secured-loan-fund-i-llc-completes-301-million-securitization-marking-continued-growth-in-pennan\/"},"modified":"2025-04-15T16:10:45","modified_gmt":"2025-04-15T20:10:45","slug":"pennantpark-floating-rate-capital-ltd-s-unconsolidated-joint-venture-pennantpark-senior-secured-loan-fund-i-llc-completes-301-million-securitization-marking-continued-growth-in-pennan","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/pennantpark-floating-rate-capital-ltd-s-unconsolidated-joint-venture-pennantpark-senior-secured-loan-fund-i-llc-completes-301-million-securitization-marking-continued-growth-in-pennan\/","title":{"rendered":"PennantPark Floating Rate Capital Ltd.\u2019s Unconsolidated Joint Venture, PennantPark Senior\u00a0Secured Loan Fund I LLC Completes $301 Million Securitization, Marking Continued Growth in PennantPark\u2019s Middle Market Platform with Twelve CLOs Under Management"},"content":{"rendered":"
\n

MIAMI, April 15, 2025 (GLOBE NEWSWIRE) — PennantPark Floating Rate Capital Ltd. (the \u201cCompany<\/em>\u201d) (NYSE: PFLT) today announced that PennantPark Senior Secured Loan Fund I LLC (\u201cPSSL<\/em>\u201d) through PSSL\u2019s wholly-owned and consolidated subsidiary, PennantPark CLO 12, LLC (\u201cCLO 12<\/em>\u201d) has closed a four-year reinvestment period, twelve-year final maturity $301 million debt securitization in the form of a collateralized loan obligation (\u201cCLO<\/em>\u201d or \u201cSecuritization<\/em>\u201d).<\/p>\n

The debt issued in this Securitization (the \u201cDebt<\/em>\u201d) is structured in the following manner:<\/p>\n\n\n\n\n\n\n\n\n\n\n\n
Class<\/td>\nPar Amount
($ in millions)<\/td>\n		% of Capital
Structure<\/td>\n		Coupon<\/td>\nExpected Rating
(S&P)<\/td>\n<\/tr>\n
A-1 Loans<\/td>\n$30,000,000<\/td>\n9.9%<\/td>\n3 Mo SOFR +\u00a01.45%<\/td>\nAAA<\/td>\n<\/tr>\n
A-1 Notes<\/td>\n141,000,000<\/td>\n46.8%<\/td>\n3 Mo SOFR +\u00a01.45%<\/td>\nAAA<\/td>\n<\/tr>\n
A-2 Notes<\/td>\n12,000,000<\/td>\n4.0%<\/td>\n3 Mo SOFR +\u00a01.60%<\/td>\nAAA<\/td>\n<\/tr>\n
B<\/td>\n21,000,000<\/td>\n7.0%<\/td>\n3 Mo SOFR +\u00a01.85%<\/td>\nAA<\/td>\n<\/tr>\n
C<\/td>\n24,000,000<\/td>\n8.0%<\/td>\n3 Mo SOFR +\u00a02.30%<\/td>\nA<\/td>\n<\/tr>\n
D<\/td>\n18,000,000<\/td>\n6.0%<\/td>\n3 Mo SOFR +\u00a03.30%<\/td>\nBBB-<\/td>\n<\/tr>\n
Sub Notes<\/td>\n55,020,000<\/td>\n18.3%<\/td>\n\u00a0<\/td>\nNR<\/td>\n<\/tr>\n
Total<\/td>\n$301,020,000<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
\u00a0<\/td>\n<\/tr>\n<\/table>\n

\u201cThis transaction demonstrates PennantPark\u2019s resilience and ability to raise attractive long-term financing with our joint venture partner, especially in these challenging capital markets conditions in which interest rate volatility and uncertain economic prospects have disrupted credit markets,\u201d said Arthur Penn, Chief Executive Officer. \u201cWe are particularly pleased to have achieved our lowest AAA pricing in our platform\u2019s history which further enhances our strong capital position allowing us to participate in today\u2019s excellent vintage of both primary and secondary opportunities. With the closing of CLO 12, PennantPark now manages approximately $4.0 billion in CLO middle market assets, and we look forward to continued growth with the support of our current and new investors.\u201d<\/p>\n

PSSL will continue to retain all of the Subordinated Notes through a consolidated subsidiary. The reinvestment period for the term debt securitization ends in April 2029 and the Debt is scheduled to mature in April 2037. The term debt securitization is expected to be approximately 100% funded at close. The proceeds from the Debt will be used to repay a portion of PSSL\u2019s $325 million secured credit facility. In addition, PSSL will act as retention holder in the transaction to retain exposure to the performance of the securitized assets. CIBC World Markets Corp. acted as lead placement agent on the Securitization.<\/p>\n

The notes offered as part of the term debt securitization have not been and will not be registered under the Securities Act of 1933, as amended (the \u201cSecurities Act<\/em>\u201d), or any state \u201cblue sky\u201d laws, and may not be offered or sold in the United States absent registration under Section 5 of the Securities Act or an applicable exemption from such registration requirements. The CLO is a form of secured financing incurred and consolidated by the Company. This press release shall not constitute an offer to sell or a solicitation of an offer to buy nor shall there be any sale of the notes in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.<\/p>\n

\n ABOUT<\/strong>
\n PENNANTPARK FLOATING RATE CAPITAL LTD.<\/strong>
\n \n <\/p>\n

PennantPark Floating Rate Capital Ltd. is a business development company which primarily invests in U.S. middle-market private companies in the form of floating rate senior secured loans, including first lien secured debt, second lien secured debt and subordinated debt. From time to time, the Company may also invest in equity investments. PennantPark Floating Rate Capital Ltd. is managed by PennantPark Investment Advisers, LLC.<\/p>\n

\n ABOUT<\/strong>
\n PENNANTPARK<\/strong>
\n INVESTMENT<\/strong>
\n ADVISERS,<\/strong>
\n LLC<\/strong>
\n \n <\/p>\n

PennantPark Investment Advisers, LLC is a leading middle-market credit platform, managing approximately $10 billion of investable capital, including available leverage. Since its inception in 2007, PennantPark Investment Advisers, LLC has provided investors access to middle-market credit by offering private equity firms and their portfolio companies as well as other middle-market borrowers a comprehensive range of creative and flexible financing solutions. PennantPark Investment Advisers, LLC is headquartered in Miami and has offices in New York, Chicago, Houston, Los Angeles, and Amsterdam.<\/p>\n

\n FORWARD-LOOKING<\/strong>
\n STATEMENTS<\/strong>
\n \n <\/p>\n

This press release may contain \u201cforward-looking statements\u201d within the meaning of the Private Securities Litigation Reform Act of 1995. You should understand that under Section 27A(b)(2)(B) of the Securities Act and Section 21E(b)(2)(B) of the Securities Exchange Act of 1934, as amended (the \u201cExchange Act<\/em>\u201d), the \u201csafe harbor\u201d provisions of the Private Securities Litigation Reform Act of 1995 do not apply to forward-looking statements made in periodic reports PennantPark Floating Rate Capital Ltd. files under the Exchange Act. All statements other than statements of historical facts included in this press release are forward-looking statements and are not guarantees of future performance or results and involve a number of risks and uncertainties. Actual results may differ materially from those in the forward-looking statements as a result of a number of factors, including those described from time to time in filings with the Securities and Exchange Commission. PennantPark Floating Rate Capital Ltd. undertakes no duty to update any forward-looking statement made herein. You should not place undue influence on such forward-looking statements as such statements speak only as of the date on which they are made.<\/p>\n

\n CONTACT:<\/strong>
\n \n <\/p>\n

Richard T. Allorto, Jr.
PennantPark Floating Rate Capital Ltd.
(212) 905-1000
www.pennantpark.com<\/u><\/a><\/p>\n

Source: PennantPark Floating Rate Capital Ltd.<\/p>\n

\"\"
\n
\n \"\"\n <\/div>\n

<\/div>\n","protected":false},"excerpt":{"rendered":"

MIAMI, April 15, 2025 (GLOBE NEWSWIRE) — PennantPark Floating Rate Capital Ltd. (the \u201cCompany\u201d) (NYSE: PFLT) today announced that PennantPark Senior Secured Loan Fund I LLC (\u201cPSSL\u201d) through PSSL\u2019s wholly-owned and consolidated subsidiary, PennantPark CLO 12, LLC (\u201cCLO 12\u201d) has closed a four-year reinvestment period, twelve-year final maturity $301 million debt securitization in the form of a collateralized loan obligation (\u201cCLO\u201d or \u201cSecuritization\u201d). The debt issued in this Securitization (the \u201cDebt\u201d) is structured in the following manner: Class Par Amount($ in millions) % of CapitalStructure Coupon Expected Rating(S&P) A-1 Loans $30,000,000 9.9% 3 Mo SOFR +\u00a01.45% AAA A-1 Notes 141,000,000 46.8% 3 Mo SOFR +\u00a01.45% AAA A-2 Notes 12,000,000 4.0% 3 Mo SOFR +\u00a01.60% AAA B 21,000,000 7.0% 3 Mo … <\/p>\n

Continue reading “PennantPark Floating Rate Capital Ltd.\u2019s Unconsolidated Joint Venture, PennantPark Senior\u00a0Secured Loan Fund I LLC Completes $301 Million Securitization, Marking Continued Growth in PennantPark\u2019s Middle Market Platform with Twelve CLOs Under Management”<\/span><\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-837665","post","type-post","status-publish","format-standard","hentry"],"yoast_head":"\nPennantPark Floating Rate Capital Ltd.\u2019s Unconsolidated Joint Venture, PennantPark Senior\u00a0Secured Loan Fund I LLC Completes $301 Million Securitization, Marking Continued Growth in PennantPark\u2019s Middle Market Platform with Twelve CLOs Under Management - Market Newsdesk<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.marketnewsdesk.com\/index.php\/pennantpark-floating-rate-capital-ltd-s-unconsolidated-joint-venture-pennantpark-senior-secured-loan-fund-i-llc-completes-301-million-securitization-marking-continued-growth-in-pennan\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"PennantPark Floating Rate Capital Ltd.\u2019s Unconsolidated Joint Venture, PennantPark Senior\u00a0Secured Loan Fund I LLC Completes $301 Million Securitization, Marking Continued Growth in PennantPark\u2019s Middle Market Platform with Twelve CLOs Under Management - Market Newsdesk\" \/>\n<meta property=\"og:description\" content=\"MIAMI, April 15, 2025 (GLOBE NEWSWIRE) — PennantPark Floating Rate Capital Ltd. 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The debt issued in this Securitization (the \u201cDebt\u201d) is structured in the following manner: Class Par Amount($ in millions) % of CapitalStructure Coupon Expected Rating(S&P) A-1 Loans $30,000,000 9.9% 3 Mo SOFR +\u00a01.45% AAA A-1 Notes 141,000,000 46.8% 3 Mo SOFR +\u00a01.45% AAA A-2 Notes 12,000,000 4.0% 3 Mo SOFR +\u00a01.60% AAA B 21,000,000 7.0% 3 Mo … Continue reading "PennantPark Floating Rate Capital Ltd.\u2019s Unconsolidated Joint Venture, PennantPark Senior\u00a0Secured Loan Fund I LLC Completes $301 Million Securitization, Marking Continued Growth in PennantPark\u2019s Middle Market Platform with Twelve CLOs Under Management"\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.marketnewsdesk.com\/index.php\/pennantpark-floating-rate-capital-ltd-s-unconsolidated-joint-venture-pennantpark-senior-secured-loan-fund-i-llc-completes-301-million-securitization-marking-continued-growth-in-pennan\/\" \/>\n<meta property=\"og:site_name\" content=\"Market Newsdesk\" \/>\n<meta property=\"article:published_time\" content=\"2025-04-15T20:10:45+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.globenewswire.com\/newsroom\/ti?nf=OTQyMjM5MSM2ODY2NTkwIzIwODQ3NjE=\" \/>\n<meta name=\"author\" content=\"Newsdesk\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Newsdesk\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"4 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/pennantpark-floating-rate-capital-ltd-s-unconsolidated-joint-venture-pennantpark-senior-secured-loan-fund-i-llc-completes-301-million-securitization-marking-continued-growth-in-pennan\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/pennantpark-floating-rate-capital-ltd-s-unconsolidated-joint-venture-pennantpark-senior-secured-loan-fund-i-llc-completes-301-million-securitization-marking-continued-growth-in-pennan\\\/\"},\"author\":{\"name\":\"Newsdesk\",\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/#\\\/schema\\\/person\\\/482f27a394d4fda80ecb5499e519d979\"},\"headline\":\"PennantPark Floating Rate Capital Ltd.\u2019s Unconsolidated Joint Venture, PennantPark Senior\u00a0Secured Loan Fund I LLC Completes $301 Million Securitization, Marking Continued Growth in PennantPark\u2019s Middle Market Platform with Twelve CLOs Under Management\",\"datePublished\":\"2025-04-15T20:10:45+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/pennantpark-floating-rate-capital-ltd-s-unconsolidated-joint-venture-pennantpark-senior-secured-loan-fund-i-llc-completes-301-million-securitization-marking-continued-growth-in-pennan\\\/\"},\"wordCount\":853,\"image\":{\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/pennantpark-floating-rate-capital-ltd-s-unconsolidated-joint-venture-pennantpark-senior-secured-loan-fund-i-llc-completes-301-million-securitization-marking-continued-growth-in-pennan\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/www.globenewswire.com\\\/newsroom\\\/ti?nf=OTQyMjM5MSM2ODY2NTkwIzIwODQ3NjE=\",\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/pennantpark-floating-rate-capital-ltd-s-unconsolidated-joint-venture-pennantpark-senior-secured-loan-fund-i-llc-completes-301-million-securitization-marking-continued-growth-in-pennan\\\/\",\"url\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/pennantpark-floating-rate-capital-ltd-s-unconsolidated-joint-venture-pennantpark-senior-secured-loan-fund-i-llc-completes-301-million-securitization-marking-continued-growth-in-pennan\\\/\",\"name\":\"PennantPark Floating Rate Capital Ltd.\u2019s Unconsolidated Joint Venture, PennantPark Senior\u00a0Secured Loan Fund I LLC Completes $301 Million Securitization, Marking Continued Growth in PennantPark\u2019s Middle Market Platform with Twelve CLOs Under Management - 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Market Newsdesk","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/www.marketnewsdesk.com\/index.php\/pennantpark-floating-rate-capital-ltd-s-unconsolidated-joint-venture-pennantpark-senior-secured-loan-fund-i-llc-completes-301-million-securitization-marking-continued-growth-in-pennan\/","og_locale":"en_US","og_type":"article","og_title":"PennantPark Floating Rate Capital Ltd.\u2019s Unconsolidated Joint Venture, PennantPark Senior\u00a0Secured Loan Fund I LLC Completes $301 Million Securitization, Marking Continued Growth in PennantPark\u2019s Middle Market Platform with Twelve CLOs Under Management - Market Newsdesk","og_description":"MIAMI, April 15, 2025 (GLOBE NEWSWIRE) — PennantPark Floating Rate Capital Ltd. (the \u201cCompany\u201d) (NYSE: PFLT) today announced that PennantPark Senior Secured Loan Fund I LLC (\u201cPSSL\u201d) through PSSL\u2019s wholly-owned and consolidated subsidiary, PennantPark CLO 12, LLC (\u201cCLO 12\u201d) has closed a four-year reinvestment period, twelve-year final maturity $301 million debt securitization in the form of a collateralized loan obligation (\u201cCLO\u201d or \u201cSecuritization\u201d). The debt issued in this Securitization (the \u201cDebt\u201d) is structured in the following manner: Class Par Amount($ in millions) % of CapitalStructure Coupon Expected Rating(S&P) A-1 Loans $30,000,000 9.9% 3 Mo SOFR +\u00a01.45% AAA A-1 Notes 141,000,000 46.8% 3 Mo SOFR +\u00a01.45% AAA A-2 Notes 12,000,000 4.0% 3 Mo SOFR +\u00a01.60% AAA B 21,000,000 7.0% 3 Mo … Continue reading \"PennantPark Floating Rate Capital Ltd.\u2019s Unconsolidated Joint Venture, PennantPark Senior\u00a0Secured Loan Fund I LLC Completes $301 Million Securitization, Marking Continued Growth in PennantPark\u2019s Middle Market Platform with Twelve CLOs Under Management\"","og_url":"https:\/\/www.marketnewsdesk.com\/index.php\/pennantpark-floating-rate-capital-ltd-s-unconsolidated-joint-venture-pennantpark-senior-secured-loan-fund-i-llc-completes-301-million-securitization-marking-continued-growth-in-pennan\/","og_site_name":"Market Newsdesk","article_published_time":"2025-04-15T20:10:45+00:00","og_image":[{"url":"https:\/\/www.globenewswire.com\/newsroom\/ti?nf=OTQyMjM5MSM2ODY2NTkwIzIwODQ3NjE=","type":"","width":"","height":""}],"author":"Newsdesk","twitter_card":"summary_large_image","twitter_misc":{"Written by":"Newsdesk","Est. reading time":"4 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/www.marketnewsdesk.com\/index.php\/pennantpark-floating-rate-capital-ltd-s-unconsolidated-joint-venture-pennantpark-senior-secured-loan-fund-i-llc-completes-301-million-securitization-marking-continued-growth-in-pennan\/#article","isPartOf":{"@id":"https:\/\/www.marketnewsdesk.com\/index.php\/pennantpark-floating-rate-capital-ltd-s-unconsolidated-joint-venture-pennantpark-senior-secured-loan-fund-i-llc-completes-301-million-securitization-marking-continued-growth-in-pennan\/"},"author":{"name":"Newsdesk","@id":"https:\/\/www.marketnewsdesk.com\/#\/schema\/person\/482f27a394d4fda80ecb5499e519d979"},"headline":"PennantPark Floating Rate Capital Ltd.\u2019s Unconsolidated Joint Venture, PennantPark Senior\u00a0Secured Loan Fund I LLC Completes $301 Million Securitization, Marking Continued Growth in PennantPark\u2019s Middle Market Platform with Twelve CLOs Under Management","datePublished":"2025-04-15T20:10:45+00:00","mainEntityOfPage":{"@id":"https:\/\/www.marketnewsdesk.com\/index.php\/pennantpark-floating-rate-capital-ltd-s-unconsolidated-joint-venture-pennantpark-senior-secured-loan-fund-i-llc-completes-301-million-securitization-marking-continued-growth-in-pennan\/"},"wordCount":853,"image":{"@id":"https:\/\/www.marketnewsdesk.com\/index.php\/pennantpark-floating-rate-capital-ltd-s-unconsolidated-joint-venture-pennantpark-senior-secured-loan-fund-i-llc-completes-301-million-securitization-marking-continued-growth-in-pennan\/#primaryimage"},"thumbnailUrl":"https:\/\/www.globenewswire.com\/newsroom\/ti?nf=OTQyMjM5MSM2ODY2NTkwIzIwODQ3NjE=","inLanguage":"en-US"},{"@type":"WebPage","@id":"https:\/\/www.marketnewsdesk.com\/index.php\/pennantpark-floating-rate-capital-ltd-s-unconsolidated-joint-venture-pennantpark-senior-secured-loan-fund-i-llc-completes-301-million-securitization-marking-continued-growth-in-pennan\/","url":"https:\/\/www.marketnewsdesk.com\/index.php\/pennantpark-floating-rate-capital-ltd-s-unconsolidated-joint-venture-pennantpark-senior-secured-loan-fund-i-llc-completes-301-million-securitization-marking-continued-growth-in-pennan\/","name":"PennantPark Floating Rate Capital Ltd.\u2019s Unconsolidated Joint Venture, PennantPark Senior\u00a0Secured Loan Fund I LLC Completes $301 Million Securitization, Marking Continued Growth in PennantPark\u2019s Middle Market Platform with Twelve CLOs Under Management - 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