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About PennantPark Floating Rate Capital Ltd. PFLT: PennantPark Floating Rate Capital Ltd. (NASDAQ: PFLT) is an externally managed investment company that has elected to be treated as a business development company under the Investment Company Act of 1940.
Our investment objective is to seek current income amd capital appreciation by investing primaarily in Floating Rate Loans and other investment made to U.S. middle-market private compmaies whose debt is rated below investment grade. Under normal market conditions, we generally expect that at least 80% of the value of our Managed Assets, which means our net assets plus any borrowings for investment purposes, will be invested in Floating Rate Loans and investments with similar economic characteristics, including cash equivalents invested in money market funds. We generally expect that senior secured loans will represent at least 65% of our overall portfolio. We also generally expect to invest up to 35% of our overall portfolio opportunistically in other types of investments, including second-lien, high yield, mezzanine and distressed debt securities and equity investments. Our investment size may generally range between $1 million and $10 million, on average, although we expect that this investment size will vary proportionately with the size of our capital base. Our Family of Funds
PennantPark Investment Corporation
PennantPark Floating Rate Capital Ltd. |
