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Get filing alertsPennantPark issues $105M in 7.375% unsecured notes due 2031
Filed June 1, 2026 · Period ending June 1, 2026 · ~1 min read
Key Changes
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PFLT issued $105 million of 7.375% unsecured notes maturing June 2031, receiving net proceeds of $101.19 million after fees. Interest is paid quarterly starting September 2026, and notes are callable after June 2028.
Item 1.01 — Entry into a Material Definitive Agreement verify on EDGAR → -
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Proceeds will repay revolving credit facility debt, fund new or existing portfolio company investments, and support general corporate purposes.
Item 1.01 — Entry into a Material Definitive Agreement verify on EDGAR → -
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Notes rank equally with other unsecured debt but are subordinated to all secured debt (to the extent of collateral value) and structurally subordinated to subsidiary obligations.
Item 1.01 — Entry into a Material Definitive Agreement verify on EDGAR → -
medium
Indenture requires PFLT to maintain Investment Company Act asset coverage ratios and restricts dividends and buybacks unless minimum coverage thresholds are met after distributions.
Item 1.01 — Entry into a Material Definitive Agreement verify on EDGAR → -
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Notes will trade on NYSE under ticker PFLA, with trading expected within 30 days of the June 1, 2026 issue date.
Item 1.01 — Entry into a Material Definitive Agreement verify on EDGAR →
Summary
PennantPark Floating Rate Capital issued $105 million in unsecured notes bearing 7.375% annual interest and maturing in 2031. After underwriting fees, the company netted approximately $101.19 million. The notes pay interest quarterly beginning September 2026 and become callable in June 2028.
This is a routine capital markets transaction for a business development company, allowing PFLT to term out revolving credit facility debt and fund its investment portfolio at a fixed rate. For shareholders, the issuance adds permanent capital to the balance sheet while the 7.375% coupon reflects current market pricing for BDC unsecured debt.
The notes rank equally with other unsecured obligations but sit behind secured debt and subsidiary liabilities in a default scenario. The indenture includes standard Investment Company Act asset coverage requirements that limit leverage and protect against excessive distributions. The NYSE listing under ticker PFLA provides secondary market liquidity for noteholders. This financing strengthens PFLT's capital structure without diluting equity holders.
Section-by-Section Diff
Event · Item 1.01 — Entry into a Material Definitive Agreement
Item 1.01 — Entry into a Material Definitive Agreement filed; see Key Changes for terms.
Added in current filing · verify on EDGAR →
The net proceeds to the Company were approximately $101.19 million, after deducting the underwriting discounts and commissions and estimated offering expenses. The Company intends to use the net proceeds from the offering to repay its outstanding obligations under its revolving credit facility, to invest in new or existing portfolio companies and for general corporate or strategic purposes.
PFLT received net proceeds of approximately $101.19 million after underwriting fees and expenses. The company plans to use these funds to repay outstanding revolving credit facility debt, invest in portfolio companies, and support general corporate purposes.
Show 1 minor / wording change
Added in current filing · verify on EDGAR →
The Notes are expected to be listed on the New York Stock Exchange, and the Company expects trading to commence thereon within 30 days of the original issue date under the trading symbol “PFLA.”
The notes will be listed on the New York Stock Exchange under ticker symbol PFLA, with trading expected to begin within 30 days of the June 1, 2026 issue date. This provides liquidity for noteholders in the secondary market.
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Figures/quotes linked to EDGAR · Narrative written by AI · Jul 8, 2026 · How we verify