Category

CLO
Direct Lenders Suddenly Cut Risk Even With $413 Billion Warchest David Brooke and Lisa Lee – Bloomberg Law “There’s a lot of cross-currents in direct lending. On the one hand you are protected because you are floating rate, but on the other you have to be more cautious because everyone has to contemplate a higher probability of a recession sooner.” Art Penn, Founder and Managing Partner of PennantPark, was quoted in a @Bloomberg Law article...
Continue Reading
Is Wall Street South Here to Stay? Meghan Daniels – Middle Market Growth “We wanted to have a flexible culture but also wanted the benefits of being in the office together, while attracting excellent people.” Art Penn, Founder and Managing Partner, was quoted in Middle Market Growth, on the establishment of PennantPark’s headquarters in Miami. PennantPark currently has eight full-time employees in Miami and hopes to increase its headcount to 20 or 25 over the...
Continue Reading
PennantPark (PNNT) Founder On The NYSE Listing TD Ameritrade Art Penn, Founder and Managing Partner of PennantPark, spoke with Nicole Petallides of TD Ameritrade Network following the company’s listing on the New York Stock Exchange, where he discussed the on the value of lenders like PennantPark amid the current environment of rising rates, inflation and geopolitical tensions.   Read the Full Article
Continue Reading
At PennantPark, Art Penn says volatility turns investors’ attentions to middle-market CLOs John S. Hintze – Asset Securitization Report Middle market domestic companies, especially those owned by private-equity firms, face many of the same hurdles as their larger brethren, whether the tight labor market, supply chain snafus, inflation, interest-rate hikes, and the list goes on. However, their debt, often provided by a single lender or a small club, is arguably less volatile than much larger...
Continue Reading
PennantPark Investment Corporation Unconsolidated Joint Venture, PennantPark Senior Loan Fund, LLC Completes $304 Million CLO PennantPark Investment Corporation announced that PennantPark Senior Loan Fund, through PSLF’s wholly-owned and consolidated subsidiary, PennantPark CLO IV, LLC, has closed a four-year reinvestment period, 12-year final maturity $304.0 million debt securitization in the form of a collateralized loan obligation (“CLO”). The transaction is the fourth middle market CLO for PennantPark, which has issued CLO vehicles since 2019. “PennantPark remains...
Continue Reading
Dealmakers Look Forward to an Active but Slightly Cooler Market in 2022 Anastasia Donde – Middle Market Growth PennantPark Founder and Managing Partner, Art Penn, spoke with Middle Market Growth’s Anastasia Donde on the 2022 outlook for dealmaking. Art shared his positive outlook, noting that while it will still be a busy year for deals, he expects activity to slow down compared to the unprecedented activity in 2021.   Read the Full Article
Continue Reading
Rising inflation may spare smaller middle-market lenders Nell Mackenzie – Risk Art Penn, Founder and Managing Partner of PennantPark, was featured in Risk, following his conversation with reporter Nell Mackenzie, where he discussed the core middle market, the rise of lending by private credit firms, and how lenders like PennantPark will prevail amid rising inflation.   Read the Full Article
Continue Reading
PennantPark Continues To Grow Its Middle Market CLO Business with the Closing of a $300.8 Million CLO PennantPark Investment Advisers, LLC announced the closing of a $300.8 million debt securitization in the form of a collateralized loan obligation (“CLO”). The debt issued in the CLO, has a three-year reinvestment period and 11-year final maturity. “This transaction reinforces PennantPark’s commitment to the growth of our CLO platform, and our ability to access attractive, long-term financing well...
Continue Reading
PennantPark Senior Secured Loan Fund, LLC Completes $300.7 Million CLO In January 2021, PennantPark Floating Rate Capital officially announced that its joint venture, PennantPark Senior Secured Loan Fund, LLC (PSSL), completed a $300.7 million CLO. The transaction allows PSSL to grow with low cost, long-term financing, and its successful execution is a testament to the resiliency of the firm’s portfolio. “Having a three-year reinvestment period, an 11-year final maturity, and attractive pricing will enhance returns...
Continue Reading
CLO Outlook: Managers Aim To Pace Issuance In An Uneven Recovery Driven by Covid Vaccine By David Graubard – LevFin Insights In December, PennantPark Founder and Managing Partner Art Penn spoke with David Graubard for his piece in LevFin Insights, which evaluated the 2021 outlook for the CLO market. As detailed below, the best-case scenario is that vaccines begin diminishing Covid-19 in the first half of 2021, before CLOs normalize to 2018-19 spread levels and...
Continue Reading
In September 2019, PennantPark issued its inaugural CLO, PennantPark CLO I. The $301.4 million vehicle is backed by a diversified portfolio of middle market loans, and has a four-year re-investment period. “I am extremely pleased with the pricing and structure of PennantPark’s inaugural collateralized loan obligation, which speaks volumes about our track record and the strength of our investment platform,” said Art Penn, Chief Executive Officer. “The maturity, reinvestment period and pricing of this financing...
Continue Reading

Sort by Category