PennantPark Floating Rate Capital

-9.12%

PennantPark Floating Rate Capital (PFLT) is a publicly traded business development company (BDC) that primarily invests in first lien secured debt and other types of debt securities of middle-market companies in the United States. It was founded in 2011 and is headquartered in New York City.
The company's investment objective is to generate both current income and capital appreciation through investments in floating rate loans and other debt securities of middle-market businesses. Its portfolio consists of a diverse mix of industries, including healthcare, industrials, and business services.
PFLT is structured as a closed-end fund and is regulated under the Investment Company Act of 1940. As a BDC, it is required to distribute at least 90% of its taxable income to shareholders in the form of dividends. This makes PFLT an attractive option for investors seeking regular income.
The company is externally managed by PennantPark Investment Advisers, LLC, a subsidiary of PennantPark Investment Corporation. The management team has significant experience in credit investing and is responsible for sourcing, underwriting, and managing the company's investments.
PFLT's stock is listed on the Nasdaq stock exchange under the ticker symbol PFLT. It also offers an investor's tender program, which allows shareholders to periodically sell back their shares at NAV.

PennantPark Floating Rate Capital is a unique investment company that focuses on making debt and equity investments in middle market companies that generate stable cash flow. This distinguishes them from traditional private equity firms, which typically focus on larger companies with potential for growth. Additionally, PennantPark Floating Rate Capital's investment strategy is centered around floating rate loans, which have variable interest rates that can adjust and potentially increase over time, providing a potential hedge against rising interest rates. This approach allows the company to capitalize on market trends and potentially generate higher returns for investors. Furthermore, the company has a team with extensive experience in credit analysis and underwriting, giving them an edge in identifying attractive investment opportunities and managing risk.

PennantPark Floating Rate Capital Ltd. is a closed-end, externally managed, investment company that seeks to generate current income and capital appreciation primarily through investments in floating rate senior secured loans and other debt securities. The company's business model is to leverage its team's expertise in credit research and selection to invest in a diversified portfolio of floating rate loans, primarily to middle-market companies in the United States. These loans typically have a floating interest rate and are secured by the borrower's assets, providing potential downside protection for the company's investments. PennantPark Floating Rate Capital earns income from interest and dividends on its investment portfolio, and also receives management fees for its services. The company may also use leverage, through borrowings and other financial instruments, to enhance returns for shareholders. The business model is designed to provide investors with a steady stream of income and the potential for long-term capital appreciation.

1. PennantPark Floating Rate Capital is an investment company that specializes in providing financing solutions to middle-market companies.
2. The company is headquartered in New York City and was founded in 2007.
3. It is a publicly traded company listed on the Nasdaq stock exchange under the ticker symbol PFLT.
4. PennantPark Floating Rate Capital primarily invests in senior secured loans, mezzanine debt, and equity investments in middle-market companies with annual revenues between $50 million and $1 billion.
5. The company’s investment portfolio is diversified across a variety of industries, including healthcare, technology, consumer goods, and business services.
6. As of September 2021, PennantPark Floating Rate Capital has total assets of over $2 billion and a market capitalization of approximately $500 million.
7. The company’s management team has significant experience in credit and asset management, and they have a track record of generating strong returns for shareholders.
8. In addition to its investment activities, PennantPark Floating Rate Capital also offers management services to third-party investors through its investment advisor, PennantPark Investment Advisers, LLC.
9. The company has declared regular quarterly dividends since its IPO in 2011, demonstrating its commitment to returning value to shareholders.
10. PennantPark Floating Rate Capital has received numerous accolades and awards, including being named one of the Best Places to Work in Money Management by Pensions & Investments magazine in 2021.
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