PennantPark Floating Rate Capital Ltd PFLT

PennantPark Floating Rate Capital Ltd. is a closed-end, externally managed, non-diversified investment company. The Company’s investment objectives are to generate both current income and capital appreciation while seeking to preserve capital. The Company seeks to achieve its investment objectives by investing primarily in loans bearing variable rates of interest or floating rate loans and other investments made to United States middle-market private companies whose debt is rated below investment grade. Interest on floating rate loans is determined periodically, on the basis of a floating base lending rate, such as LIBOR, with or without a floor, plus a fixed spread. Under normal market conditions, the Company generally expect that at least 80% of the value of its net assets plus any borrowings for investment purposes or its Managed Assets, will be invested in floating rate loans and other investments bearing a variable rate of interest.