News

American Airlines Joins Debt-Market Behemoths By Matt Wirz – The Wall Street Journal PennantPark Founder and Managing Partner Art Penn spoke with Matt Wirz of The Wall Street Journal for his article on American Airlines’ activity in the debt markets since the onset of the pandemic. American Airlines serves as an example of how private lenders can provide capital solutions to companies that were heavily impacted by last year’s shutdown, but Art noted that it’s...Continue Reading

NEW YORK , March 02, 2021 (GLOBE NEWSWIRE) -- PennantPark Floating Rate Capital Ltd. (the "Company") (NASDAQ: PFLT) (TASE: PFLT) declares its monthly distribution for March 2021 of $0.095 per share, payable on April 1, 2021 to stockholders of record as of March 18, 2021 .Continue Reading

NEW YORK , March 02, 2021 (GLOBE NEWSWIRE) -- PennantPark Investment Corporation (the "Company") (NASDAQ: PNNT) declares its second fiscal quarter 2021 distribution of $0.12 per share, payable on April 1, 2021 to stockholders of record as of March 18, 2021 .Continue Reading

Private Debt Seen Succumbing to Junk Frenzy as Yields Evaporate By Kelsey Butler – Bloomberg PennantPark Founder and Managing Partner Art Penn spoke with Kelsey Butler of Bloomberg for her piece on how borrower-friendly terms in the junk-bond and leveraged loan markets are impacting the upper middle market for private debt. The core middle market, where we are focused, has not seen that type of pressure. “We want to focus on an area where we...Continue Reading

PennantPark banks strong Q4 with BDCs By Susan Barreto – Alternatives Watch Susan Barreto of Alternatives Watch recently highlighted PennantPark’s Q1 earnings, noting that the firm enjoyed a strong quarter across our portfolio, including the increase in net asset value across both PNNT and PFLT. Our excellent performance during the GFC a decade ago and now through COVID has differentiated us among direct lenders.   Read the Full ArticleContinue Reading

NEW YORK , Feb. 09, 2021 (GLOBE NEWSWIRE) -- PennantPark Floating Rate Capital Ltd. (NASDAQ: PFLT) (TASE: PFLT) announced today financial results for the first fiscal quarter ended December 31, 2020 . HIGHLIGHTS Quarter ended December 31, 2020 ($ in millions, except per share amounts) Assets andContinue Reading

NEW YORK , Feb. 09, 2021 (GLOBE NEWSWIRE) -- PennantPark Investment Corporation (NASDAQ: PNNT) announced today financial results for the first fiscal quarter ended December 31, 2020 . HIGHLIGHTS Quarter ended December 31, 2020 ($ in millions, except per share amounts) Assets and Liabilities:      Continue Reading

NEW YORK , Feb. 02, 2021 (GLOBE NEWSWIRE) -- PennantPark Floating Rate Capital Ltd. (the "Company") (NASDAQ: PFLT) (TASE: PFLT) declares its monthly distribution for February 2021 of $0.095 per share, payable on March 1, 2021 to stockholders of record as of February 15, 2021 .Continue Reading

Middle Market Movie Theater Industry Headwinds Exacerbated by Pandemic; Consolidation Remains in Question as Uncertainty Among Larger Players Plagues Industry By Millie Dent – Reorg PennantPark Founder and Managing Partner Art Penn spoke with Millie Dent of Reorg for her piece on the outlook for middle market movie theaters in 2021 and discussed some of the obstacles that middle market theaters are facing as they aim to access additional capital. Art noted that larger chains...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