PennantPark CLO I Ltd. priced a $301.4 million collateralized loan obligation that has a four-year reinvestment period and a 12-year maturity period.
The reinvestment period will end in October 2023, while the debt is scheduled to mature in October 2031.
The securitization is expected to be approximately 95% funded at close. Proceeds will be used to repay a portion of the PennantPark Floating Rate Capital Ltd.'s $520 million secured credit facility.
