UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM
CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(d)
OF THE SECURITIES EXCHANGE ACT OF 1934
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| Item 1.01. | Entry into a Material Definitive Agreement |
On August 8, 2024, PennantPark Floating Rate Funding I, LLC, a wholly-owned subsidiary of PennantPark Floating Rate Capital Ltd. (the “Borrower”), entered into a third amendment (the “Amendment”) to its revolving credit and security agreement, originally dated as of August 12, 2021 (the “Credit Facility”), by and among the Borrower, PennantPark Investment Advisers, LLC, as collateral manager, the lenders from time to time party thereto, Truist Bank, as administrative agent for the secured parties and swingline lender, and U.S. Bank Trust Company, National Association, as collateral agent, collateral administrator and back-up collateral administrator. Among other things, the Amendment increases the commitment amounts of the lenders party thereto from $611,000,000 to $636,000,000, extends the reinvestment period from August 12, 2024 to August 12, 2027 (unless earlier terminated as a result of the termination of commitments) (the “Reinvestment Period”) and implements a new definition of “Term Benchmark Rate” as a benchmark rate. The final maturity date of the Credit Facility is the second anniversary of the end of the Reinvestment Period and therefore was extended by the extension of the Reinvestment Period. In addition, the Amendment makes certain changes to the lenders party to the Credit Facility.
The description of the Amendment contained in this Current Report on Form 8-K does not purport to be complete and is qualified in its entirety by reference to the full text of the Amendment attached hereto as Exhibit 10.1.
| Item 9.01. | Financial Statements and Exhibits |
(d) Exhibits.
SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, as amended, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
| PENNANTPARK FLOATING RATE CAPITAL LTD. | ||||||
| Date: August 9, 2024 | By: | /s/ Richard T. Allorto, Jr. | ||||
| Name: | Richard T. Allorto, Jr. | |||||
| Title: | Chief Financial Officer & Treasurer | |||||