PennantPark Completes PennantPark CLO IX, LLC, Continuing the Growth of PennantPark’s CLO Platform. PennantPark Investment Advisers, LLC announced the final close of a term debt securitization transaction with a two-year reinvestment period, ten-year final maturity in the form of a collateralized loan obligation (“CLO”) for PennantPark Senior Credit Fund Levered LP (the “Fund”). “I am extremely pleased with the pricing and structure of our ninth CLO, which highlights the track record and the strength of...Continue Reading
PennantPark Investment Corporation’s Unconsolidated Joint Venture, PennantPark Senior Loan Fund, LLC Completes $300 Million CLO, Marking Continued Growth in PennantPark’s Middle Market CLO Platform with Seven CLOs Under Management. PennantPark Investment Corporation (the “Company”) (NYSE: PNNT) today announced that PennantPark Senior Loan Fund, LLC (“PSLF”) through its wholly-owned and consolidated subsidiary, PennantPark CLO VII, LLC (“CLO VII”), has closed a $300 million debt securitization in the form of a collateralized loan obligation (“CLO”) with a...Continue Reading
PennantPark Floating Rate Capital Ltd.’s Unconsolidated Joint Venture, PennantPark Senior Secured Loan Fund I, LLC Completes $297.8 Million CLO, Marking Continued Growth in PennantPark’s Middle Market CLO Platform with Six CLOs Under Management PennantPark Floating Rate Capital Ltd. (the “Company”) (NYSE: PFLT) (TASE: PFLT) today announced that PennantPark Senior Secured Loan Fund I, LLC (“PSSL”) through PSSL’s wholly-owned and consolidated subsidiary, PennantPark CLO VI, LLC (“CLO VI”) has closed a four-year reinvestment period, twelve-year final...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
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
New Commitments Increase Investment Capacity by $460 Million PennantPark Investment Advisers, LLC officially announced the successful closing of our fifth commingled fund, PennantPark Senior Credit Fund Levered, LP, which secured $460 million in additional investment capacity and marked another significant step forward in the growth of our middle market private credit investment business. From pre-COVID inception in mid-2019 through March 31, 2021, PSCF-Lev’s gross and net annualized returns were 17.7% and 15.3%, respectively, surpassing the...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
Joint Venture to Target Middle Market Financing Opportunities Pantheon Acquires a Stake in a Special Purpose Vehicle from PennantPark Pantheon to Contribute Additional Capital Transaction Boosts Buying Power and Scales Platform Click here to download a PDF version NEW YORK, Aug. 04, 2020 (GLOBE NEWSWIRE) — PennantPark Investment Corporation (“PNNT”) (NASDAQ: PNNT) today announced it has formed a joint venture with the private credit investment business of Pantheon (“Pantheon”) to create PennantPark Senior Loan Fund...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
In July 2019, PennantPark launched four new investment vehicles, increasing the firm’s investment capacity by more than $750 million across two strategies: Senior Debt and Opportunistic Credit. The new offerings include the PennantPark Senior Credit Fund (“PSCF”) Leveraged, PSCF Un-Leveraged, PennantPark Credit Opportunities Fund III (“PCOF III”), and a substantial separately managed account focused on Opportunistic Credit. Read the full press release hereContinue Reading
