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 our investment platform,” said Arthur Penn, Chief Executive Officer. “This transaction reinforces PennantPark’s ability to access attractive, long-term financing well matched to the lower risk nature of the underlying assets we originate. With the closing of PennantPark CLO IX, PennantPark now manages approximately $2.8 billion in CLO assets, and we look forward to continued growth with the support of our current and new investors.”