PennantPark Floating Rate Capital Ltd (PFLT)

PennantPark Floating Rate Capital Ltd. (NYSE: PFLT) is a closed-end fund organized as a business development company. It focuses on investments in middle-market companies, with an emphasis on private firms and smaller public issuers that are thinly traded or have limited market capitalizations. The fund’s portfolio includes floating rate loans, senior secured loans, mezzanine debt, and selected equity-related positions such as preferred stock, common stock, warrants, and options that may be obtained in connection with debt investments or through direct commitments.

The fund primarily invests in the United States, while also maintaining a limited allocation to non-U.S. companies. Under normal conditions, it expects at least 80% of net assets plus borrowings used for investment purposes to be allocated to floating rate loans and similar instruments. It typically targets positions in the range of $2 million to $20 million, with larger commitments of $10 million to $50 million in senior secured loans and mezzanine debt. The portfolio is generally concentrated in companies that are not rated by national rating agencies, or that would fall within lower speculative-grade categories if rated.

Jump directly to the stock analysis sections supported by the latest available data.