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PennantPark Floating Rate Capital Ltd. (PFLT) has submitted its 10-Q filing for the quarterly period ended December 31, 2024.
The filing includes consolidated financial statements for the quarter, detailing the company's investments and financial position. The total investments at fair value amounted to $2,193,910,000, with cash and cash equivalents totaling $102,262,000.
The company reported total assets of $2,344,201,000 and total liabilities of $1,381,550,000, resulting in net assets of $962,651,000. The net asset value per share was $11.34.
Investment income for the quarter was $67,009,000, with interest income from non-controlled, non-affiliated investments contributing $47,463,000. Total expenses for the quarter were $37,042,000, leading to a net investment income of $29,967,000.
During the quarter, the company realized a net gain of $26,601,000 on investments, while the net change in unrealized depreciation on investments and debt was $28,239,000.
The company issued 7,276,000 shares of common stock during the quarter, raising $82,209,000 in net proceeds. Distributions to stockholders amounted to $25,181,000.
PFLT's portfolio primarily consists of floating rate loans to U.S. middle-market private companies, with a focus on first lien secured debt. The company aims to generate current income and capital appreciation while preserving capital.
The filing also outlines the company's investment strategy, including its use of subsidiaries and joint ventures to execute its investment objectives. PSSL, an unconsolidated joint venture, is highlighted as part of the company's investment structure.
The report includes details on the company's credit facilities and securitization transactions, such as the 2036-R Asset-Backed Debt and 2026 Notes, which are part of its financing strategy.
PennantPark Floating Rate Capital Ltd. continues to focus on managing its portfolio and optimizing its capital structure to achieve its investment objectives.
This content was summarized by generative artificial intelligence using public filings retrieved from SEC.gov. The original data was derived from the PennantPark Floating Rate Capital Ltd. quarterly 10-Q report dated February 10, 2025. To report an error, please email earnings@qz.com.