PennantPark Floating Rate Capital Ltd. announced that as result of expanded lender partner relationships, it has upsized its credit facility, led by Truist Bank (Credit Facility) to $611 million from $436 million. Pricing on this facility remained unchanged at SOFR plus 236 basis points. This increased facility will expand ability to serve middle-market sponsor and borrower clients by providing them with more comprehensive senior secured solutions.

This enhanced credit facility positions well to capture the opportunity in the core middle market, where capital is strategic to borrowers. The Credit Facility is secured by all of the assets held by PennantPark Floating Rate Funding I, LLC, a wholly-owned subsidiary of the Company, and includes customary covenants, including minimum asset coverage and minimum equity requirements.