WEST PALM BEACH, Fla., Feb. 24, 2026 (GLOBE NEWSWIRE) -- Onity Group Inc. (NYSE: ONIT) (“Onity” or the “Company”) today announced that Aulene Wessel has been named Senior Vice President and Chief Accounting Officer, effective February 23, 2026. Ms. Wessel reports to Sean O’Neil, Executive Vice President and Chief Financial Officer of Onity. Ms. Wessel is responsible for providing strategic leadership of the controllership function, overseeing all core accounting operations, internal controls, technical acco ...

Core Viewpoint - CTO Realty Growth, Inc. successfully closed $150 million in term loan financing, enhancing liquidity and extending debt maturity profile [1][2] Financing Details - The financing includes a new $125 million term loan due September 2030 and a $25 million upsizing of the existing term loan due September 2029 [1] - Proceeds from the financing were used to retire a $65 million term loan due March 2026 and to reduce the balance on the revolving credit facility [1] Interest Rate Information - Both term loans bear interest at SOFR plus a spread based on the Company's leverage ratio, with an initial fixed interest rate of approximately 4.2% [3] - The interest rate for both loans is expected to adjust to approximately 4.7% in March 2026 when certain SOFR swap agreements mature [3] Lender Information - The 2030 Term Loan was provided by a syndicate of banks led by KeyBank National Association, with other participating banks including PNC Bank, Regions Bank, and Wells Fargo Bank [4]

Core Viewpoint - PennantPark Investment Corporation reported its financial results for the second quarter ended March 31, 2025, highlighting a decrease in net investment income and net asset value per share, alongside significant portfolio activity and investment performance metrics [1][2][4]. Financial Highlights - Investment portfolio totaled $1,213.6 million with net assets of $488.1 million as of March 31, 2025 [2]. - GAAP net asset value per share was $7.48, reflecting a quarterly change of -1.2% [2]. - Net investment income for the quarter was $11.4 million, or $0.18 per share, down from $14.3 million or $0.22 per share in the same quarter of the previous year [15]. - Total investment income for the quarter was $30.7 million, compared to $36.0 million in the prior year [13]. Portfolio Activity - The company made purchases of investments totaling $176.8 million and sales and repayments of investments amounting to $263.1 million during the quarter [2][6]. - The portfolio consisted of 158 companies with an average investment size of $6.9 million, and a weighted average yield on debt investments of 12.0% [4]. - As of March 31, 2025, the portfolio included 41% first lien secured debt and 29% preferred and common equity [4]. Investment Income and Expenses - Investment income for the three months ended March 31, 2025, was primarily derived from first lien secured debt, totaling $22.1 million [13]. - Total expenses for the quarter were $19.2 million, a decrease from $21.7 million in the same quarter of the previous year [14]. - The decrease in expenses was attributed to lower interest and debt-related expenses [14]. Realized and Unrealized Gains - Net realized losses for the quarter were $(27.7) million, compared to $(31.0) million in the same quarter of the previous year [17]. - The net change in unrealized appreciation on investments was $27.1 million for the quarter [18]. Liquidity and Capital Resources - As of March 31, 2025, the company had $314.5 million in outstanding borrowings under the Truist Credit Facility, with a weighted average interest rate of 6.7% [22]. - Cash and cash equivalents available for investing and corporate purposes were $32.6 million [23]. Distributions - The company declared distributions of $0.24 per share for the quarter, totaling $15.7 million, compared to $0.21 per share in the same quarter of the previous year [27].

Core Insights - PennantPark Floating Rate Capital Ltd. reported its financial results for the second quarter ended March 31, 2025, highlighting a decrease in net asset value per share by 2.4% [2][18] - The company experienced an increase in investment income, totaling $61.9 million for the quarter, compared to $44.4 million in the same period last year [16][38] - The overall portfolio value increased to $2,344.1 million, with a significant portion in first lien secured debt [7][11] Financial Performance - Net investment income for the quarter was $25.0 million, or $0.28 per share, up from $19.1 million, or $0.31 per share, in the previous year [18][38] - Total expenses for the quarter were $36.9 million, compared to $25.3 million in the same quarter of 2024, primarily due to increased interest expenses [17][38] - The company declared distributions of $0.31 per share for the quarter, totaling $27.7 million, compared to $18.8 million in the same period last year [32] Portfolio and Investment Activity - The investment portfolio consisted of $2,100.2 million in first lien secured debt, $4.4 million in subordinated debt, and $239.5 million in preferred and common equity [7][11] - During the quarter, the company made purchases of investments totaling $293.3 million and sales and repayments of $122.4 million [9][12] - The weighted average yield on debt investments at quarter-end was 10.5% [2][7] Debt and Capital Structure - The company completed a $474.6 million term debt securitization in February 2025, retaining $85.1 million of subordinated notes [25] - As of March 31, 2025, the company had a regulatory debt to equity ratio of 1.29x [2] - The annualized weighted average cost of debt decreased to 6.8% from 7.1% year-over-year [26] Recent Developments - In April 2025, the company amended its credit facility agreement, reducing pricing and extending the reinvestment period [33] - The PennantPark Senior Secured Loan Fund I LLC (PSSL) closed a $301 million debt securitization, expected to be fully funded at close [34] - The company continues to monitor available net investment income to determine potential returns of capital for tax purposes [32]

Core Points - PennantPark Floating Rate Capital Ltd. amended its credit facility agreement, reducing pricing to SOFR plus 200 basis points from SOFR plus 225 basis points, extending the reinvestment period to August 2028, and extending the maturity date to August 2030 [1][2] - The maximum first lien advance rate increased to 72.5% from 70.0%, while commitments decreased from $736 million to $718 million [1] Company Overview - PennantPark Floating Rate Capital Ltd. is a business development company that 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 [4] - The company is managed by PennantPark Investment Advisers, LLC, which manages approximately $10 billion of investible capital and offers a range of financing solutions to middle-market borrowers [5]