PFLT - PennantPark Floating Rate Capital Ltd. Completes CLO Marking Continued Growth in PennantPark's CLO Platform | Benzinga
MIAMI, Feb. 22, 2024 (GLOBE NEWSWIRE) -- PennantPark Floating Rate Capital Ltd. (the "Company") (NYSE:PFLT) today announced that it completed a $350.55 million term debt securitization transaction with a four-year reinvestment period, twelve-year final maturity in the form of a collateralized loan obligation ("CLO").
The debt issued in the CLO (the " Debt") is structured in the following manner:
Class |
| Par Amount ($ in millions) |
% of Capital Structure |
Coupon |
| Expected Rating (S&P) |
Issuance Price |
| A-1 Loans |
| $60,000,000 |
| 17.1 |
| % |
| 3 Mo SOFR + 2.30% |
| AAA |
| 100.0 |
| % |
| A-1 Notes |
| 139,500,000 |
| 39.8 |
| % |
| 3 Mo SOFR + 2.30% |
| AAA |
| 100.0 |
| % |
| A-2 Notes |
| 14,000,000 |
| 4.0 |
| % |
| 3 Mo SOFR + 2.70% |