PennantPark Floating Rate Capital Ltd. Upsizes Credit Facility to $611 Million

,  (GLOBE NEWSWIRE) --  (the "Company") (NYSE: PFLT) announced that as result of expanded lender partner relationships, it has upsized its credit facility, led by  (the “Credit Facility”) to  from . Pricing on this facility remained unchanged at SOFR plus 236 basis points.

“We are appreciative of the support from all of our existing lending partners and pleased to have expanded our relationships. Their support highlights the confidence they have in our excellent long term track record,” said  , Chairman and Chief Executive Officer of PFLT. “This increased facility will expand our ability to serve middle-market sponsor and borrower clients by providing them with more comprehensive senior secured solutions. This enhanced credit facility positions us well to capture the opportunity in the core middle market, where our capital is strategic to our borrowers. As a result, the package of risk adjusted return we receive is attractive and includes higher yields, lower leverage and covenants which are not available in the upper middle market.”

The Credit Facility is secured by all of the assets held by , a wholly-owned subsidiary of the Company, and includes customary covenants, including minimum asset coverage and minimum equity requirements.

ABOUT 

 is a business development company which primarily invests in  middle-market private companies in the form of floating rate senior secured loans, including first lien secured debt, second lien secured debt and subordinated debt. From time to time, the Company may also invest in equity investments.  is managed by .

ABOUT PENNANTPARK INVESTMENT ADVISERS, LLC

PennantPark is a leading middle market credit platform, managing approximately  of investable capital, including available leverage. Since its inception in 2007, PennantPark has provided investors access to middle market credit by offering private equity firms and their portfolio companies as well as other middle market borrowers a comprehensive range of creative and flexible financing solutions. PennantPark is headquartered in , and has offices in , , ,  and .

FORWARD-LOOKING STATEMENTS

This press release may contain “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. You should understand that under Section 27A(b)(2)(B) of the Securities Act and Section 21E(b)(2)(B) of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), the “safe harbor” provisions of the Private Securities Litigation Reform Act of 1995 do not apply to forward-looking statements made in periodic reports  files under the Exchange Act. All statements other than statements of historical facts included in this press release are forward-looking statements and are not guarantees of future performance or results and involve a number of risks and uncertainties. Actual results may differ materially from those in the forward-looking statements as a result of a number of factors, including those described from time to time in filings with the .  undertakes no duty to update any forward-looking statement made herein. You should not place undue influence on such forward-looking statements as such statements speak only as of the date on which they are made.

CONTACT:
, Jr.

(212) 905-1000
www.pennantpark.com