PennantPark Floating Rate Capital Ltd.
PFLT.TA
Tel Aviv Stock Exchange4,173.00
ILA
- -
- -
ISIN
US70806A1060
Return %
Stock
S&P500
1Y
4.56
26.53
3Y
-0.41
76.60
5Y
-4.75
80.11
Capital Structure
FRC
•
in mil. unless spec.Working Capital
FRC
•
in mil. unless spec.Growth Rates
FRC
•
in mil. unless spec.Quarterly Revenue
FRC
•
in mil. unless spec.Quarterly Earnings Per Share
FRC
•
in mil. unless spec.Quarterly Dividends Per Share
FRC
•
in mil. unless spec.- CEO
- Arthur Howard Penn
- Sector
- Financial Services
- Industry
- Asset Management
- Address
- 1691 Michigan Avenue Miami Beach FL United States of America 33139
- IPO Date
- Jan 16, 2018
- Website
- pflt.pennantpark.com
- Similar Companies
- Business
- PennantPark Floating Rate Capital Ltd. (NYSE: PFLT) is a publicly traded business development company that generates current income and capital appreciation primarily through senior secured first lien floating-rate loans, second lien secured debt, subordinated debt, and occasional equity investments including preferred stock, common stock, warrants and options to U.S. middle-market companies with EBITDA generally between $10 million and $50 million. The company, founded in 2010 and headquartered in Miami Beach, Florida, invests $2 million to $20 million per position, with a portfolio mainly comprised of directly originated and highly negotiated floating-rate loans to private, thinly traded or small market-cap public companies; it operates externally managed by PennantPark Investment Advisers, LLC, maintains at least 80% of assets in qualifying floating-rate loans and similar instruments including cash equivalents, and focuses on non-rated or BB to CCC-rated borrowers across sectors with a low non-accrual rate of around 0.4%. Recent developments include the formation of PennantPark Senior Secured Loan Fund II, LLC, a joint venture with Hamilton Lane Senior Credit Opportunities Fund expanding middle-market loan capacity consistent with PFLT's origination strategy in August 2025; an additional $100 million commitment to its existing PennantPark Senior Secured Loan Fund I joint venture increasing total capacity to $1.5 billion reported in early 2025; upsizing of its credit facility to $736 million, pricing of a $361 million securitization with a 1.59% weighted average spread, and robust originations of approximately $4 billion across the PennantPark platform in 2024 with expectations for continued growth and full dividend coverage into 2025.