PennantPark Investment Corporation’s Unconsolidated Joint Venture, PennantPark Senior Loan Fund, LLC Completes $300 Million CLO

Marking Continued Growth in PennantPark’s Middle Market CLO Platform with Seven CLOs Under Management

MIAMI, July 26, 2023 (GLOBE NEWSWIRE) -- PennantPark Investment Corporation (the “Company”) (NYSE: PNNT) today announced that PennantPark Senior Loan Fund, LLC (“PSLF”) through its wholly-owned and consolidated subsidiary, PennantPark CLO VII, LLC (“CLO VII”), has closed a $300 million debt securitization in the form of a collateralized loan obligation (“CLO”) with a four-year reinvestment period and twelve-year final maturity.

The notes issued in the CLO (the “CLO Notes”) are structured in the following manner:

Class	Par Amount ($ in millions)		% of Capital Structure		Coupon		Expected Rating (S&P)	Issuance Price
A-1A Notes	$151,000,000		50.3%		3 Mo SOFR + 2.70%		AAA	100.0%
A-1B Loans		20,000,000	6.7%		6.5490%		AAA	100.0%
A-2		12,000,000	4.0%		3 Mo SOFR + 3.20%		AAA	100.0%
B		21,000,000	7.0%		3 Mo SOFR + 4.05%		AA	100.0%
C		24,000,000	8.0%		3 Mo SOFR + 4.70%		A	100.0%
D		18,000,000	6.0%		3 Mo SOFR + 7.00%		BBB-	100.0%
Sub Notes		54,000,000	18.0%				NR	NA
Total	$300,000,000

“This transaction demonstrates PennantPark’s continued ability to raise attractive long-term financing, even during challenging markets.” said Arthur Penn, Chief Executive Officer. “We are pleased to enhance the capital position of both PSLF and our platform and to participate in today’s excellent vintage of both primary and secondary opportunities. With the closing of CLO VII, PennantPark now manages approximately $2.1 billion in CLO middle market assets, and we look forward to continued growth with the support of our current and new investors.”