PennantPark Floating Rate Capital amended its multi-currency, senior secured credit facility to increase the size from $375 million to $380 million and extend the reinvestment period to November 9, 2020. SunTrust Bank served as administrative agent for the transaction. U.S. Bank served as collateral agent.

The maturity date of the facility was extended to November 9, 2022. The interest rate of LIBOR + 200 basis points remains unchanged.

“We are pleased to have amended and extended our credit facility to this new maturity at an extremely attractive rate,” said Chairman and CEO Arthur H. Penn. “The amended and extended credit facility is a testament to the long term trusted relationships we have developed with our banking partners.”

The credit facility is secured by all of the assets held by PennantPark Floating Rate Funding I, a wholly-owned subsidiary of the company, and includes customary covenants, including minimum asset coverage and minimum equity requirements.

PennantPark Floating Rate Capital is a business development company which primarily invests in U.S. middle-market private companies in the form of floating rate senior secured loans.