PennantPark Floating Rate Capital Ltd. Public price

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NEW YORK, Oct 06, 2021 (GLOBE NEWSWIRE) – PennantPark Floating Rate Capital Ltd. (NASDAQ: PFLT) (TASE: PFLT) (“PFLT”) announced that it has priced a subscribed public offering of an additional $ 85.0 million in aggregate principal amount of its unsecured notes at 4, 25% maturing in 2026 (the “Notes”). The Notes will be issued at a price of 101.45% of the total principal amount of the Notes, which will result in a yield to maturity of approximately 3.875%.

Purchasers will be required to pay accrued and unpaid interest on the Notes from October 1, 2021 up to, but not including, the date of delivery of the Notes. On April 1, 2022, PFLT will pay such accrued pre-issuance interest on the Notes to Noteholders from the applicable record date, as well as accrued interest on the Notes from the delivery date until that date. date of payment of interest.

The Notes will constitute an additional issue, have the same terms as, rank equally in payment right with, and be fungible and form a single series with the total principal amount of $ 100 million of the Notes at 4.25. % due 2026 that PFLT originally issued on March 23, 2021. Upon issuance of the Notes, the aggregate principal amount outstanding of the 4.25% PFLT Notes due 2026 will be $ 185.0 million.

The Notes will mature on April 1, 2026 and may be redeemed in whole or in part at the option of PFLT at any time at par plus a “redemption” premium where applicable; it being understood that the Notes may be redeemed at par three months before their maturity. The offer is scheduled to close on October 12, 2021, subject to customary closing conditions.

Goldman Sachs & Co. LLC, Keefe, Bruyette & Woods, A Stifel company and Truist Securities, Inc. are acting as co-book managers for this offering. JMP Securities LLC and Ladenburg Thalmann & Co. Inc. are acting as co-managers for this offering.

PFLT expects to use the net proceeds from the sale of securities of this offering to invest in new or existing portfolio companies or for other general or strategic purposes, including the repayment of amounts outstanding on its existing debt.

other information

Investors are advised to carefully consider the investment objectives, risks, fees and expenses of FPFL before investing. The Pricing Terms Sheet dated October 6, 2021, the preliminary prospectus supplement dated October 6, 2021, and the accompanying prospectus dated January 29, 2020, each of which has been filed with the Securities and Exchange Commission (the “SEC”), contain this and other information about FPFL and should be read carefully before investing.

The information contained in the pricing schedule, the provisional prospectus supplement, the accompanying prospectus and this press release are not complete and may be amended. The Pricing Terms Sheet, Provisional Prospectus Supplement, the accompanying prospectus and this press release do not constitute offers to sell any securities of FFLT and do not solicit an offer to buy such securities in any State. or a jurisdiction where such offering and selling is not permitted.

PFLT’s shelf registration statement is archived and has been declared effective by the SEC. The offer may only be made by means of a preliminary prospectus supplement and accompanying prospectus.

Before investing, you should read the prospectus in this registration statement, the preliminary prospectus supplement and other documents that PFLT has filed with the SEC for more complete information about PFLT and this offering. You can obtain these documents free of charge by visiting EDGAR on the SEC’s website at www.sec.gov. You can also obtain copies of the preliminary prospectus supplement and accompanying prospectus from: Goldman Sachs & Co. LLC, Attn: Prospectus Department, 200 West Street, New York, NY 10282, telephone: 1-866-471 -2526, fax: 1-212-902-9316 or email: [email protected]; Keefe, Bruyette & Woods, A Stifel company, Attn: Prospectus Department, 787 Seventh Avenue, Fourth Floor, New York, NY 10019, Phone: 1-800-966-1559, Fax: 1-212-581-1592 or Email: [email protected]; and Truist Securities Inc., Attn: Prospectus Department, 303 Peachtree Road, Atlanta, GA 30308, phone: 1-800-685-4786 or e-mail: [email protected] You are advised to obtain a copy of the Prospectus Supplement and the accompanying Prospectus and to carefully review the information it contains or is incorporated by reference therein before making any investment decision.

ABOUT PENNANTPARK FLOATING RATE CAPITAL LTD.

PennantPark Floating Rate Capital Ltd. is a business development company that invests primarily in private mid-market US companies in the form of variable rate senior secured loans, including senior secured debt, second secured debt and subordinated debt. From time to time, PFLT may also invest in equity investments. PFLT is managed by PennantPark Investment Advisers, LLC.

ABOUT PENNANTPARK INVESTMENT ADVISERS, LLC

PennantPark Investment Advisers, LLC is a leading mid-market credit platform, managing $ 5.2 billion in investable capital, including potential leverage. Since its inception in 2007, PennantPark Investment Advisers, LLC has provided investors with access to middle market credit by offering private equity firms and their holding companies as well as other middle market borrowers a full range of creative and flexible financing solutions. PennantPark Investment Advisers, LLC is headquartered in New York with offices in Chicago, Houston and Los Angeles.

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 of 1933, such 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 transfers – forward-looking statements made in periodic reporting of PFLT files under the Exchange Act. All statements other than statements of historical fact 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 of forward-looking statements due to a number of factors, including those described from time to time in filings with the SEC. PFLT does not undertake to update the forward-looking statements contained in this document. You should not exercise undue influence over these forward-looking statements because such statements speak only as of the date on which they are made.

The information contained in this document is based on applicable tax laws, which may change in the future. PFLT cannot be held responsible for any direct or accidental loss resulting from the application of any of the information provided in this publication or any other source mentioned. The information provided in this document does not constitute specific legal, tax or accounting advice. Please consult qualified professionals for this type of advice.


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