MIAMI, Dec. 26, 2024 (GLOBE NEWSWIRE) -- PennantPark Floating Rate Capital Ltd. ("PFLT") (NYSE: PFLT) announced that it has upsized its credit facility, led by Truist Bank (the "Credit Facility") to $736 million from $636 million. Pricing on this facility remained unchanged at SOFR plus 225 basis points.
"We are appreciative of the support from all of our existing lending partners. Their support highlights the confidence they have in our excellent long-term track record," said Arthur Penn, Chairman and Chief Executive Officer of PFLT. "We expect that this increased facility will expand our ability to serve middle-market sponsor and borrower clients by providing them with more comprehensive senior secured solutions. We believe that 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, we believe that 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."
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