PennantPark Floating Rate Capital Ltd.
0KH0.L
London Stock Exchange7.19
USD
-0.08
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PennantPark Floating Rate Capital Ltd.
0KH0.L
(London Stock Exchange)
Recent
price
7.19
P/E
ratio
- -
div
yld
- -
ROIC.AI
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in mil. unless spec.- Similar Companies
- Business
- PennantPark Floating Rate Capital Ltd. (NYSE: PFLT; Ticker: 0KH0.L) is a publicly traded business development company and closed-end, externally managed, non-diversified investment fund that generates current income and capital appreciation primarily through senior secured first lien floating rate loans to U.S. middle-market companies; it also invests in secondary direct debt, equity securities such as preferred stock, common stock, warrants and options, mezzanine debt, high-yield bonds, distressed debt and private equity, with typical investment sizes ranging from $2 million to $50 million in private or thinly traded public companies rated below investment grade (BB to CCC equivalent), focusing on non-qualifying assets up to 30% including public companies under $250 million market cap and limited non-U.S. exposures. The company, founded in 2010 (with initial operations in 2011) and headquartered in Miami, Florida, is externally managed by PennantPark Investment Advisers, LLC, which oversees a portfolio mainly of directly originated investments targeting favorable risk-adjusted returns in middle-market credit opportunities. It operates primarily in the United States through its investment activities, with joint ventures like PennantPark Senior Secured Loan Fund I LLC (PSSL) and the recently launched PSSL II enhancing capacity. Recent developments include expanding total investment capacity in PSSL to $1.5 billion via an additional $100 million commitment in early 2025 alongside its joint venture partner; pricing a $361 million securitization financing in February 2025 at SOFR plus 1.59% weighted average spread; upsizing its credit facility to $736 million; investing $425.9 million through PSSL for the year ended September 30, 2025 across 28 new and 26 existing portfolio companies at a 10.2% weighted average debt yield; and in November 2025, establishing PSSL II with a $150 million senior secured revolving credit facility from Goldman Sachs Bank USA (accordion up to $350 million at SOFR plus 175 basis points) to grow that portfolio initially to $500 million.