PennantPark Senior Loan Fund (PSLF), through its wholly-owned and consolidated subsidiary, PennantPark CLO X, closed a four-year reinvestment period, twelve-year final maturity, $400.5 million debt securitization in the form of a collateralized loan obligation (CLO).
“We are thrilled by the continued progress of our CLO business, with the milestones of issuing our tenth CLO and crossing over $3 billion in AUM within our CLOs,” Arthur Penn, CEO of PennantPark, said. “We believe that this financing positions us well to continue to capture the opportunity in the core middle market, where our capital is strategic to our borrowers. As a result, we believe that the risk adjusted return of our investments are attractive due to higher yields, lower leverage and covenants which are not available in the upper middle market.”
With the closing of CLO X, PennantPark now manages approximately $3.2 billion in CLO middle market assets.
