PennantPark Investment Corporation announced that it has entered into an amended and restated, multi-currency, senior secured revolving credit facility with certain lenders, which increased the size of the credit facility from $315 million to $380 million. SunTrust Robinson Humphrey and J.P. Morgan Securities acted as joint lead arrangers and joint bookrunners, SunTrust Bank acted as administrative agent and JPMorgan Chase Bank acted as syndication agent of the credit facility. The credit facility contains an accordion feature whereby it can be expanded to $600 million if certain conditions are satisfied.

The definitive agreements relating to the credit facility were executed on February 21, 2012. Pricing is set at LIBOR plus 275 basis points. The credit facility has a four-year maturity, with a one-year term out period following its third year. The credit facility has the same security as the company’s previous credit facility and includes customary covenants, including minimum asset coverage and minimum equity.

“We are pleased to have amended and restated our credit facility to this new size and duration. This long-term credit facility nicely complements our permanent equity base and our long-term, ten-year SBA financing. We are delighted to have received strong support from existing lenders and welcome new relationships who have joined our growing list of lending partners,” said chairman and CEO Arthur H. Penn.

PennantPark Investment Corporation is a business development company that principally invests in U.S. middle-market private companies in the form of senior secured loans, mezzanine debt and equity investments.