PennantPark Floating Rate Capital Ltd. announced the acquisition of a portfolio worth $250 million of assets.
The assets were acquired from TSO Puma SPV, LLC, an affiliate of Towerbrook Capital Partners.
This acquisition was part of the winding down of PennantPark-TSO Senior Loan Fund, LP.
Asset Acquisition
Acquired a portfolio of approximately $250 million of assets.
Quality Assets
Added assets familiar to the Company's investment adviser to the portfolio.
Financial Impact
Expected to be accretive to net investment income by approximately two cents per share per quarter.
- The acquisition is expected to optimize the PFLT portfolio.
- The assets acquired have average spread and credit statistics in-line with PFLT's existing portfolio.
The acquisition of this asset portfolio reinforces the Company's strategic investment decisions and strengthens its position in the market.