|
PennantPark Floating Rate Capital - SCHEDULE OF INVESTMENTS
March 31 , 2012
| Issuer Name |
Maturity |
Industry |
Current Coupon
5.00%(8)
(1% PIK) |
Basis Points Above Index (1) |
Par |
Cost |
Fair Value (2) |
| Investments in Non-Controlled, Non-Affiliated Portfolio Companies - 151.1%(3),(4) |
| First Lien Secured Debt - 130.6% |
Airvana Network Solutions Inc.
Sponsor: S.A.C. Private Capital Group
Description: Provider of network infrastructure software products used by wireless operators to provide mobile broadband services, primarily in North America.
|
03/25/2015 |
Telecommunications |
10.00% |
L+800 |
$ 785,714 |
$ 787,760 |
$ 746,429 |
Aspen Dental Management, Inc.
Sponsor: Leonard Greene & Partners, L.P.
Description: A leading dental practice management company.
|
10/06/2016 |
Consumer Services |
7.00% |
L+550 |
2,992,500 |
2,947,919 |
2,970,056 |
Autoparts Holdings Limited
Sponsor: Rank Group Limited
Description: Manufacturer and distributer of vehicle aftermarket replacement parts
|
07/29/2017 |
Automotive |
6.50% |
L+500 |
995,000 |
990,663 |
999,975 |
Blue Coat Systems, Inc.
Sponsor: Thoma Bravo
Description: Leading provider of software and hardware solutions to help businesses to secure and optimize their networks.
|
02/15/2018 |
High Tech Industries |
7.50% |
L+600 |
4,000,000 |
3,921,389 |
3,980,000 |
C.H.I. Overhead Doors, Inc.
Sponsor: Friedman Fleischer & Lowe LLC
Description: Manufacturer of overhead garage doors.
|
08/17/2017 |
Consumer Goods: Durable |
7.27% |
L+575 |
3,980,000 |
3,907,844 |
3,960,100 |
DCS Business Services, Inc.
Sponsor: Parthenon Capital
Description: Technology based provider of audit and recovery services.
|
03/19/2018 |
Business Services |
8.00% |
L+475 |
3,000,000 |
2,955,160 |
2,955,000 |
Document Technologies, Inc.
Sponsor: Harvest Partners
Description: Offers a comprehensive suite of legal information management services.
|
12/01/2016 |
Business Services |
6.50% |
L+500 |
1,000,000 |
990,557 |
995,000 |
DS Waters of America, Inc.
Sponsor: Glenview Capital
Description: National provider of bottled water and related services delivered directly to commercial and residential customers in the United States.
|
08/29/2017 |
Beverage, Food and Tobacco |
10.50% |
L+900 |
4,000,000 |
3,920,851 |
3,935,000 |
EAG, Inc.
Sponsor: Odyssey Investment Partners
Description: Provides surface testing, chemical testing, and materials analysis.
|
07/28/2017 |
Business Services |
6.75% |
P+350 |
975,000 |
970,472 |
965,250 |
Fundtech (US FT HOLDCO, INC.)
Sponsor: GTCR
Description: Provider of payments and banking technology with a comprehensive suite of SaaS and licensed solutions for financial institutions and corporations.
|
11/30/2017 |
Business Services |
7.50% |
L+600 |
2,992,500 |
2,905,553 |
2,986,889 |
Global Tel*Link Corporation
Sponsor: American Securities
Description: Provider of telecom and technology products and services used by inmates, administrators and investigators in the corrections industry.
|
12/14/2017 |
Telecommunications |
7.00% |
L+550 |
2,992,500 |
2,935,337 |
2,994,370 |
Gundle / SLT Environmental, Inc.
Sponsor: CHS Capital
Description: World’s largest lining solutions provider, serving environmentally focused end- markets that include waste containment, mining, power, agriculture, aquaculture and other industrial and civil applications.
|
05/27/2016 |
Environmental Industries |
6.99% |
L+550 |
2,977,500 |
2,953,133 |
2,932,838 |
Harmony Foods Corporation(5)
Sponsor: Levine Leichtman
Description: Leading formulator and manufacturer of gummy nutraceuticals in the U.S.
|
05/01/2016 |
Beverage, Food and Tobacco |
10.00% |
---(9) |
2,000,000 |
2,000,000 |
2,060,000 |
HMK Intermediate Holdings LLC
Sponsor: Calera Capital
Description: Specialty mattress retailer in the United States.
|
04/01/2019 |
Retail |
7.25% |
L+600 |
3,000,000 |
2,940,000 |
2,940,000 |
IDQ Holdings, Inc.(5)
Sponsor: Castle Harlan
Description: Provider of air conditioning maintenance and repair solutions for the do-it-yourself automotive aftermarket.
|
04/01/2017 |
Automotive |
11.50% |
---(9) |
2,000,000 |
1,960,101 |
2,050,000 |
Insight Global, Inc.
Sponsor: Harvest Partners
Description: Provider of information technology staffing to corporate clients
|
08/16/2017 |
Business Services |
6.50% |
L+500 |
988,769 |
984,109 |
971,465 |
Instant Web, Inc.
Sponsor: Avista Capital Partners and Court Square
Description: Fully integrated provider of direct mail solutions.
|
08/07/2014 |
Media: Advertising, Printing and Publishing |
3.62% |
L+338(9) |
6,945,468 |
6,565,294 |
6,250,920 |
K2 Pure Solutions NoCal, L.P.
Sponsor: Centre Partners
Description: Operates a chlor-alkali manufacturing facility that supplies water treatment, household and industrial end-markets.
|
09/10/2015 |
Chemicals, Plastics and Rubber |
10.00% |
P+675 |
5,476,250 |
5,519,390 |
5,421,487 |
KIK Custom Products Inc.(6)
Sponsor: CI Capital Partners
Description: One of North America’s largest contract manufacturers of consumer products, including bleach, household cleaners, personal care, over-the-counter medication and pharmaceuticals.
|
05/31/2014 |
Consumer Goods: Non-Durable |
8.50% |
L+700 |
4,962,500 |
4,848,837 |
4,881,859 |
Medpace Holdings, Inc.
Sponsor: CCMP Capital Advisors
Description: Global contract research organization focused primarily on Phase II – IV drug development services.
|
06/17/2017 |
Business Services |
6.50% |
L+500 |
1,985,000 |
1,958,287 |
1,925,450 |
|
Mood Media Corporation(6)
Description: In-store media and marketing provider. Mood Media is a public company and trades under the ticker “MM” on the Toronto stock exchange.
|
05/06/2018 |
Media: Diversified and Production |
7.00% |
L+550 |
3,970,000 |
3,935,345 |
3,870,750 |
MOSAID Technologies Incorporated(6)
Sponsor: Sterling Partners
Description: Licenses patented intellectual property in the areas of semiconductors and communications systems.
|
12/23/2016 |
High Tech Industries |
8.50% |
L+700 |
3,000,000 |
2,928,463 |
2,985,000 |
Penton Media, Inc.
Sponsor: MidOcean / Wasserstein
Description: Largest independent B2B platform provider.
|
08/01/2014 |
Media: Diversified and Production |
5.00%
(PIK 1.00%) |
L+400 |
5,496,951 |
4,805,359 |
4,358,626 |
Potter's Holdings II, L.P.
Sponsor: Carlyle
Description: A leading manufacturer of engineered glass materials for the highway safety, polymer additive, metal finishing, conductives and other industrial and consumer sectors.
|
05/08/2017 |
Containers, Packaging and Glass |
6.00% |
L+450 |
1,985,000 |
1,968,064 |
1,980,038 |
Pro Mach, Inc.
Sponsor: The Jordan Company
Description: Provider of packaging machinery solutions and related aftermarket products and services.
|
07/06/2017 |
Capital Equipment |
6.25% |
L+475 |
992,500 |
984,001 |
976,372 |
Renaissance Learning, Inc.
Sponsor: Permira Advisers LLC
Description: Provides technology based student assessment and school improvement programs, focused on reading, math and writing for K-12 students.
|
10/19/2017 |
Media: Broadcasting and Subscription |
7.75% |
L+625 |
1,990,000 |
1,913,981 |
1,987,513 |
Rocket Software, Inc.
Sponsor: Court Square
Description: Global infrastructure software company.
|
02/08/2018 |
High Tech Industries |
7.00% |
L+550 |
3,990,000 |
3,911,459 |
3,990,000 |
Securus Technologies, Inc.
Sponsor: Castle Harlan
Description: Provider of telecommunications services to the correctional services industry.
|
05/31/2017 |
Telecommunications |
5.25% |
L+400 |
2,977,500 |
2,950,706 |
2,935,318 |
Sotera Defense Solutions, Inc.
Sponsor: Ares
Description: Technology and engineering solutions firm serving the Department of Defense, Department of Homeland Security, federal law enforcement agencies, and the US intelligence community.
|
04/22/2017 |
Aerospace and Defense |
7.00% |
L+550 |
2,977,500 |
2,952,842 |
2,947,725 |
Tank Intermediate Holding Corp.
Sponsor: Olympus Partners
Description: Designer and manufacturer of proprietary rotational molded polyethylene and steel storage tanks and containers used in above ground, below ground, and portable applications.
|
04/15/2016 |
Containers, Packaging and Glass |
4.75% |
L+350 |
1,811,321 |
1,808,062 |
1,806,792 |
Tekelec Global, Inc. (First Out)
Sponsor: Siris Capital
Description: Global Provider of software solutions primarily for telecommunications and cable companies.
|
01/29/2018 |
Telecommunications |
9.00% |
L+750 |
750,000 |
738,971 |
750,000 |
Tekelec Global, Inc. (Second Out)
Sponsor: Siris Capital
Description: Global Provider of software solutions primarily for telecommunications and cable companies.
|
01/29/2018 |
Telecommunications |
13.50% |
L+1,200 |
1,875,000 |
1,821,164 |
1,875,000 |
|
Terex Corporation
Description: Manufactures a variety of industrial machinery products.
|
04/28/2017 |
Capital Equipment |
5.50% |
L+400 |
1,990,000 |
1,972,905 |
1,975,075 |
Triple Point Technology, Inc.
Sponsor: ABRY
Description: Global provider of commodity management software solutions.
|
10/30/2017 |
High Tech Industries |
8.00% |
L+650 |
997,500 |
959,847 |
996,253 |
U.S. Healtworks Holding Company, Inc.
Sponsor: Altaris Capital Partners / Arch Partners
Description: Leading national provider of outpatient occupational medicine services for work-related injuries and illnesses.
|
06/15/2016 |
Healthcare and Pharmaceuticals |
6.25% |
L+475 |
2,977,500 |
2,952,966 |
2,932,838 |
Unifrax I LLC
Sponsor: American Securities
Description: Producer of specialty materials and highly engineered components that provides innovative insulating solutions to customers across a wide variety of end markets.
|
11/28/2018 |
Capital Equipment |
7.00% |
L+550 |
2,992,500 |
2,934,992 |
3,018,610 |
Univita Health Inc.
Sponsor: Genstar Capital
Description: Provides home-based care management services.
|
06/19/2017 |
Consumer Services |
6.25% |
L+475 |
2,977,500 |
2,952,122 |
2,783,963 |
Valitas Health Services, Inc.
Sponsor: Beecken Petty O'Keefe
Description: Provides healthcare services to inmates of prisons and jails.
|
06/02/2017 |
Healthcare and Pharmaceuticals |
5.75% |
L+450 |
1,488,750 |
1,482,497 |
1,451,531 |
Vantage Specialties, Inc.
Sponsor: The Jordan Company
Description: Vertically integrated, specialty chemicals company.
|
02/09/2018 |
Chemicals, Plastics and Rubber |
7.00% |
L+550 |
3,000,000 |
2,940,664 |
3,000,000 |
Viamedia Services Corp.
Sponsor: Lake Capital
Description: Largest independent sales organization for designated market area-based video advertising in the U.S.
|
04/19/2016 |
Media: Advertising, Printing and Publishing |
7.00% |
L+550 |
4,500,000 |
4,453,517 |
4,432,500 |
Virtual Radiologic Corporation
Sponsor: Providence Equity Partners
Description: Leading provider of teleradiology services to healthcare facilities, serving over 2,700 facilities with over 340 affiliated offsite radiologists.
|
12/22/2016 |
Business Services |
7.75% |
P+450 |
2,985,000 |
2,958,806 |
2,776,050 |
W3 CO.
Sponsor: Warburg Pincus
Description: Global outsourced provider of integrated safety and compliance solutions to clients operating in hazardous environments.
|
10/31/2017 |
Energy: Oil and Gas |
7.50% |
L+625 |
1,995,000 |
1,919,750 |
1,975,050 |
WCA Waste Corporation
Sponsor: Macquarie
Description: Vertically integrated, non-hazardous solid waste management company.
|
03/23/2017 |
Environmental Industries |
5.50% |
L+425 |
1,000,000 |
990,037 |
1,002,500 |
Water Pik, Inc.
Sponsor: EG Capital Group, LLC
Description: Marketer and supplier of consumer and professional health and wellness products.
|
08/10/2017 |
Consumer Goods: Durable |
6.75% |
L+525 |
3,482,500 |
3,450,900 |
3,473,794 |
Wound Care (National Healing Corporation)
Sponsor: Metalmark
Description: Provider of outsourced wound management solutions to U.S. hospitals.
|
11/30/2017 |
Healthcare and Pharmaceuticals |
8.25% |
L+675 |
4,987,500 |
4,748,327 |
4,812,938 |
|
Yonkers Racing Corporation(5)
Description: Provider of video gaming machines, live harness racing, and simulcasting services in Yonkers, New York.
|
07/15/2016 |
Hotel, Gaming and Leisure |
11.38% |
---(9) |
4,000,000 |
4,322,842 |
4,290,000 |
| Total First Lien Secured Debt |
|
$126,721,245 |
$126,306,324 |
| |
| Second Lien Secured Debt - 7.4% |
Autoparts Holdings Limited
Sponsor: Rank Group Limited
Description: Manufacturer and distributer of vehicle aftermarket replacement parts.
|
01/29/2018 |
Automotive |
10.50% |
L+900 |
1,000,000 |
995,000 |
982,500 |
|
Mood Media Corporation(6)
Description: In-store media and marketing provider. Mood Media is a public company and trades under the ticker “MM” on the Toronto stock exchange.
|
11/06/2018 |
Media: Diversified and Production |
10.25% |
L+875 |
1,500,000 |
1,485,491 |
1,406,250 |
ROC Finance LLC and ROC Finance 1 Corp
Sponsor: Rock Gaming / Caesars Entertainment
Description: Operator of casinos in Cleveland and Cincinnati.
|
09/01/2018 |
Hotel, Gaming and Leisure |
12.13% |
---(9) |
2,000,000 |
1,967,727 |
2,230,000 |
Sensus USA Inc.
Sponsor: Jordan Company / Goldman Sachs Capital Partners
Description: Leading provider of utility infrastructure systems, metering technologies and related communication systems to the worldwide utility industry.
|
05/09/2018 |
Utilities: Water |
8.50% |
L+725 |
1,000,000 |
991,449 |
995,000 |
Seven Seas Cruises(5),(6)
Sponsor: Apollo
Description: Cruise company that owns and operates three, six-star luxury cruise vessels.
|
05/15/2019 |
Hotel, Gaming and Leisure |
9.13% |
---(9) |
1,500,000 |
1,500,000 |
1,522,500 |
| Total Second Lien Secured Debt |
|
$6,939,667 |
$7,136,250 |
| |
| Subordinated Debt / Corporate Notes - 12.6% |
Affinion Group Holdings, Inc.
Sponsor: Apollo
Description: Direct marketer of membership, insurance and package enhancement programs and services.
|
11/15/2015 |
Consumer Goods: Non-Durable |
11.63% |
---(9) |
4,100,000 |
3,755,717 |
3,710,500 |
Document Technologies, Inc.
Sponsor: Harvest Partners
Description: Offers a comprehensive suite of legal information management services.
|
12/01/2017 |
Business Services |
13.00% |
---(9) |
1,000,000 |
980,000 |
1,000,000 |
Lonestar Intermediate Super Holdings, LLC
Sponsor: Madison Dearborn Capital Partners
Description: Global provider of technology protection services to the wireless, retail and home service provider industries.
|
09/02/2019 |
Consumer Services |
11.00% |
L+950 |
1,500,000 |
1,455,331 |
1,517,250 |
Trusthouse Services Group, Inc.
Sponsor: Gryphon Partners III, L.P.
Description: Provides onsite cafeteria management services.
|
07/31/2018 |
Beverage, Food and Tobacco |
14.00%
(PIK 2.00%) |
---(9) |
3,781,731 |
3,712,668 |
3,781,730 |
Trusthouse Services Group, Inc.(7)
Sponsor: Gryphon Partners III, L.P.
Description: Provides onsite cafeteria management services.
|
07/31/2018 |
Beverage, Food and Tobacco |
--- |
---(9) |
2,206,000 |
2,161,880 |
2,206,000 |
| Total Subordinated Debt / Corporate Notes |
|
$12,065,596 |
$12,215,480 |
| |
| Preferred Equity / Partnership Interests - 0.1%(8) |
Trusthouse Services Holdings, LLC
(Trusthouse Services Group, Inc.)
Sponsor: Gryphon Partners III, L.P.
Description: Provides onsite cafeteria management services.
|
--- |
Beverage, Food and Tobacco |
12.50% |
--- |
158 |
95,000 |
122,104 |
| Total Preferred Equity / Partnership Interests |
|
$95,000 |
$122,104 |
| |
| Common Equity - 0.4%(8) |
Titan Private Holdings I, LLC
(Tekelec Global, Inc.)
Sponsor: Siris Capital
Description: Global Provider of software solutions primarily for telecommunications and cable companies.
|
--- |
Telecommunications |
--- |
--- |
401,797 |
401,450 |
401,797 |
Trusthouse Services Holdings, LLC
(Trusthouse Services Group, Inc.)
Sponsor: Gryphon Partners III, L.P.
Description: Provides onsite cafeteria management services
|
--- |
Beverage, Food and Tobacco |
--- |
--- |
8 |
5,000 |
6,177 |
| Total Common Equity |
|
$406,450 |
$407,974 |
| |
| Investments in Non-Controlled, Non-Affiliated Portfolio Companies |
$146,227,958 |
$146,188,132 |
|
| Cash Equivalents - 4.0% |
| |
$3,849,360 |
$3,849,360 |
$3,849,360 |
| Total Investments and Cash Equivalents - 155.1% |
| |
|
$150,077,318 |
$150,037,492 |
| Liabilities in Excess of Other Assets - (55.1%) |
| |
|
|
($53,315,187) |
| Net Assets - 100.0% |
| |
| |
|
|
$96,722,305 |
(1) Represents floating rate instruments that accrue interest at a predetermined spread relative to an index, typically the applicable London Interbank Offered Rate, or LIBOR or "L", or prime rate, or Prime or "P". All securities are subject to a LIBOR or Prime rate floor where a spread is provided, unless noted.
(2) Valued based on our valuation policy.
(3) The provisions of the Investment Company Act of 1940, as amended, or the 1940 Act, classify investments based on the level of control that we maintain in a particular portfolio company. As defined in the 1940 Act, a company is deemed as “non-controlled” when we own less than 25% of a portfolio company’s voting securities and “controlled” when we own 25% or more of a portfolio company’s voting securities.
(4) The provisions of the 1940 Act classify investments further based on the level of ownership that we maintain in a particular portfolio company. As defined in the 1940 Act, a company is deemed as “non-affiliated” when we own less than 5% of a portfolio company’s voting securities and “affiliated” when we own 5% or more of a portfolio company’s voting securities.
(5) Security is exempt from registration under Rule 144A promulgated under the Securities Act of 1933, as amended, or the Securities Act. The security may be resold in transactions that are exempt from registration, normally to qualified institutional buyers.
(6) Non-U.S. company or principal place of business outside the United States.
(7) Represents the purchase of a security with delayed settlement (unfunded investment). This security does not have a basis point spread above an index.
(8) Non-income producing securities.
(9) Coupon is not subject to a LIBOR or Prime rate floor.
Our Family of Funds
PennantPark Investment Corporation
PennantPark Floating Rate Capital Ltd.
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