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% |