PennantPark Floating Rate Capital Ltd. Completes the Reset of a $356.5 Million Securitization, Substantially Reducing Borrowing Costs

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PennantPark Floating Rate Capital Ltd. (PFLT) announced the successful reset of a $356.5 million debt securitization, PennantPark CLO VIII, LLC. This refinancing is expected to reduce the weighted average cost of capital by 114 basis points, from SOFR+2.79% to SOFR+1.65%, making it the lowest financing cost for securitizations managed by PennantPark Investment Advisers, LLC. The maturity of the debt has been extended to April 2038, and PFLT will continue to retain the Subordinated Notes.

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