PennantPark Floating Rate Capital Ltd. Announces Acquisition of $250 Million Asset Portfolio

Company Overview - PennantPark Floating Rate Capital Ltd. has acquired a portfolio of approximately $250 million of assets from TSO Puma SPV, LLC, an affiliate of Towerbrook Capital Partners [1] - The acquisition is part of the winding down of PennantPark-TSO Senior Loan Fund, LP, and includes assets familiar to the Company's investment adviser [1] - The average spread and credit statistics of the acquired assets are generally in line with the existing portfolio of PennantPark Floating Rate Capital Ltd. [1] Financial Impact - The acquisition is expected to optimize the portfolio and be accretive to net investment income by approximately two cents per share per quarter [2] Investment Strategy - PennantPark Floating Rate Capital Ltd. primarily invests in U.S. middle-market private companies through floating rate senior secured loans, including first lien secured debt, second lien secured debt, and subordinated debt [2] - The Company may also invest in equity investments from time to time [2] Management Background - PennantPark Investment Advisers, LLC manages approximately $10 billion of investable capital, including potential leverage, and has been operational since 2007 [3] - The firm provides a comprehensive range of financing solutions to private equity firms, their portfolio companies, and other middle-market borrowers [3]