PennantPark Floating Rate Capital Ltd. Files 8-K

TL;DR

PFLT filed an 8-K on Jan 16, 2025, detailing financial results.

AI Summary

PennantPark Floating Rate Capital Ltd. filed an 8-K on January 16, 2025, reporting on its results of operations and financial condition. The filing details the company's financial status and operational outcomes for the period ending January 16, 2025. This report is a standard disclosure for publicly traded companies to inform investors about significant events.

Why It Matters

This filing provides investors with crucial updates on PennantPark Floating Rate Capital Ltd.'s financial performance and operational results, enabling informed investment decisions.

Risk Assessment

Risk Level: low — This is a routine 8-K filing for financial reporting, not indicating any immediate or unusual risks.

Key Players & Entities

• PennantPark Floating Rate Capital Ltd. (company) — Registrant
• January 16, 2025 (date) — Date of Report
• 590 Madison Avenue (address) — Business Address
• New York (location) — City
• 10022 (zip_code) — Zip Code
• 212-905-1000 (phone_number) — Business Phone

FAQ

Key Financial Figures

• $0.001 — ch Registered Common Stock, par value $0.001 per share PFLT The New York Stock E
• $736 million — (the "Credit Facility") commitments to $736 million from $636 million; pricing on the Credi
• $636 million — lity") commitments to $736 million from $636 million; pricing on the Credit Facility remaine
• $87.5 million — mpany committed to invest an additional $87.5 million in PennantPark Senior Secured Loan Fund
• $12.5 million — also committed to invest an additional $12.5 million of capital. In conjunction with increas
• $100 million — ncreased leverage capacity at PSSL, the $100 million investment will expand the JV's total i
• $1.5 b — d the JV's total investment capacity to $1.5 billion, representing a nearly $500 milli
• $500 million — to $1.5 billion, representing a nearly $500 million increase. The equity investment in Ne
• $3.8 million — t, the company recognized approximately $3.8 million of one-time non-recurring income relate
• $20.1 million — loan. The equity position was valued at $20.1 million at September 30, 2024. In connection wi
• $20.6 million — n connection with the sale, we received $20.6 million in cash proceeds and anticipate receivi
• $4.9 million — and anticipate receiving approximately $4.9 million of additional escrow proceeds in the fu
• $11.33 — ue per share is estimated to be between $11.33 and $11.38 per common share at December
• $11.38 — e is estimated to be between $11.33 and $11.38 per common share at December 31, 2024.
• $11.31 — o a net asset value per common share of $11.31 at September 30, 2024. Net investment

Filing Documents

• pflt-20250116.htm (8-K) — 56KB
• 0000950170-25-006197.txt ( ) — 226KB
• pflt-20250116.xsd (EX-101.SCH) — 60KB
• pflt-20250116_htm.xml (XML) — 4KB

02 Results of Operations and Financial Condition

Item 2.02 Results of Operations and Financial Condition Highlights and Preliminary Estimates of Results as of December 31, 2024 On January 16, 2025, PennantPark Floating Rate Capital Ltd. (the "Company") announced certain highlights and preliminary estimates of its financial results for the quarter ended December 31, 2024. Highlights: In December 2024, the Company, upsized its multi-currency senior secured revolving credit facility with Truist Bank, as administrative agent, and other lenders (the "Credit Facility") commitments to $736 million from $636 million; pricing on the Credit Facility remained unchanged at SOFR plus 225 basis points. During the quarter, the company committed to invest an additional $87.5 million in PennantPark Senior Secured Loan Fund I LLC ("PSSL"or the "JV") and its JV partner also committed to invest an additional $12.5 million of capital. In conjunction with increased leverage capacity at PSSL, the $100 million investment will expand the JV's total investment capacity to $1.5 billion, representing a nearly $500 million increase. The equity investment in New MPE Holdings, LLC (Marketplace Events) was realized during the quarter. This investment represented 11.3% of the equity portfolio, excluding the investment in PSSL, at September 30, 2024. In addition, in connection with the payoff of the Marketplace Events, LLC debt, the company recognized approximately $3.8 million of one-time non-recurring income related to accelerated amortization income associated with the early repayment of the loan. The equity position was valued at $20.1 million at September 30, 2024. In connection with the sale, we received $20.6 million in cash proceeds and anticipate receiving approximately $4.9 million of additional escrow proceeds in the future in connection with the terms of the sale. Preliminary estimates: Net asset value per share is estimated to be between $11.33 and $11.38 per common share at December 31, 2024. This compares to a net as

Forward-Looking Statements

Forward-Looking Statements This report on Form 8-K, 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 of 1933, as amended, 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 the Company files under the Exchange Act. All statements other than statements of historical facts included in this report on Form 8-K, 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 Securities and Exchange Commission. The Company 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.

01 Other Information

Item 8.01 Other Information The information set forth under Item 2.02 above is incorporated herein by reference. SIGNATURE Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. Dated: January 16, 2025 PENNANTPARK FLOATING RATE CAPITAL LTD. By: /s/ Richard T. Allorto, Jr. Richard T. Allorto, Jr. Chief Financial Officer & Treasurer

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View this 8-K filing on SEC EDGAR