MIAMI, May 21, 2024 (GLOBE NEWSWIRE) -- PennantPark Floating Rate Capital Ltd. (the "Company") (NYSE:PFLT) today announced that PennantPark Senior Secured Loan Fund I LLC ("PSSL") through PSSL's wholly-owned and consolidated subsidiary, PennantPark CLO II, Ltd ("CLO II") has closed the refinancing of a four-year reinvestment period, twelve-year final maturity $300.7 million debt securitization in the form of a collateralized loan obligation ("CLO").
The debt issued in the CLO (the "Debt") is structured in the following manner:
Class | Par Amount ($ in millions) |
% of Capital Structure | Coupon | Expected Rating (S&P) |
Issuance Price |
A-1-R Loans | $103,000,000 | 34.3% | 3 Mo SOFR + 1.93% | AAA | 100.0% |
A-1-R Notes | 71,000,000 | 23.6% | 3 Mo SOFR + 1.93% | AAA | 100.0% |
A-2-R Notes | 5,000,000 | 1.7% | 3 Mo SOFR + 2.20% | AAA | 100.0% |
B-R Notes | 25,000,000 | 8.3% |