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PNNTG - BDC Retirement Income: 12% Yielding New Mountain Finance
PennantPark Investment Corporation 5.50% Notes Due 2024
Introduction
This article is part of a series discussing how to build a retirement portfolio using Business Development Companies ("BDCs") currently yielding almost 12% and their safer notes - baby bonds/preferred shares with yield-to-maturities ranging from 6.5% to 10.0%. Please see the end of the article for a list of BDCs that I will be covering over the next two weeks. The previous article discussed PennantPark Investment (PNNT) trading at a 53% discount to book value and currently yielding 13.2% and its Baby Bond that trades under the symbol "PNNTG":