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PennantPark Investment Corporation (PNNT-5.83%) has submitted its 10-K filing for the fiscal year ended September 30, 2024.
The filing reports total investments valued at $1,328.1 million, consisting of 50% first lien secured debt, 8% U.S. Government Securities, 5% second lien secured debt, 14% subordinated debt, and 23% preferred and common equity.
For the fiscal year, PennantPark Investment Corporation recorded investment income of $143.8 million, with net investment income totaling $60.1 million, or $0.92 per share.
Net realized losses for the year amounted to $33.6 million, while the net change in unrealized appreciation on investments was $26.8 million.
The company declared distributions of $0.88 per share during the year, amounting to total distributions of $57.4 million.
The company operates with a multi-currency Truist (TFC+5.94%) Credit Facility with $461.5 million outstanding as of September 30, 2024, and $150.0 million and $165.0 million in aggregate principal amount of 2026 Notes and 2026 Notes-2, respectively.
PennantPark Investment Corporation's portfolio consisted of 152 companies, with a weighted average yield on interest-bearing debt investments of 12.3%.
The company's net assets as of September 30, 2024, were reported at $493.9 million, with a net asset value per share of $7.56.
The filing also discusses the company's investment strategy, which focuses on U.S. middle-market companies, and its competitive advantages, including an experienced management team and a disciplined investment approach.
The report outlines various risk factors, including market risks, competition, and dependence on key personnel, as well as regulatory risks associated with maintaining its status as a BDC and a RIC.
This content was summarized by generative artificial intelligence using public filings retrieved from SEC.gov. The original data was derived from the PennantPark Investment Corporation annual 10-K report dated November 26, 2024. To report an error, please email earnings@qz.com.