1. PNNT sold investment in JF for $67.5 million, gaining $63.1 million. 2. JF constituted 23% of PNNT's equity portfolio value as of September 30, 2025. 3. PNNT's credit facility increased to $535 million, maturing in 2030. 4. Borrowing costs reduced, expanding service capabilities for middle-market clients. 5. Transaction enhances liquidity and supports PNNT's equity rotation strategy.
FAQ
Why Bullish?
The sale of JF strengthens PNNT's liquidity, similar to past successful asset sales impacting share prices positively.
How important is it?
The strategic sale and increased credit facility bolster PNNT's operational capacity and liquidity position, essential for investor confidence.
Why Short Term?
Immediate liquidity from the sale may influence investor sentiment and share price in upcoming quarters.
PennantPark Investment Corporation Exits Equity Investment and Upsizes Credit Facility
MIAMI, Dec. 15, 2025 (GLOBE NEWSWIRE) — PennantPark Investment Corporation (NYSE: PNNT) has announced the successful sale of its equity investment in JF Intermediate, LLC ("JF") for $67.5 million. This strategic move resulted in a realized gain of $63.1 million, approximating the fair value of the investment as of September 30, 2025. Notably, JF comprised 23% of the Company's equity investment portfolio at fair value on that date.
Details of the Transaction
The liquidation of the investment allows PNNT to realize substantial liquidity, a critical component of its ongoing equity rotation strategy. Art Penn, Chairman and CEO, expressed gratitude for the partnership with JF, stating that the transaction positions JF for future growth while benefiting PNNT's shareholders. This deal underscores the company's commitment to optimizing its investment portfolio.
- Sale price of JF investment: $67.5 million
- Realized gain: $63.1 million
- Percentage of equity investment portfolio excluding PennantPark Senior Loan Fund: 23%
Enhancements to Credit Facility
In addition to the equity sale, PennantPark Investment Corporation also announced an increase in its multi-currency, senior secured credit facility. The facility size has been expanded from $500 million to $535 million, with an extended maturity date of 2030 and a reduction in pricing from SOFR plus 235 basis points to SOFR plus 210 basis points.
Mr. Penn remarked on the increased credit facility as a reflection of the continued confidence from both new and existing lending partners. This upsize enables PNNT to lower borrowing costs while enhancing its capabilities to support middle-market sponsors and borrowers.
About PennantPark Investment Corporation
PennantPark Investment Corporation is recognized as a leading business development company that primarily targets investments in U.S. middle-market private firms. Investments are made through various means including:
- First lien secured debt
- Second lien secured debt
- Subordinated debt
- Equity investments
Managed by PennantPark Investment Advisers, LLC, the firm has developed a robust investment platform, managing approximately $10 billion in investable capital since its inception in 2007.
Forward-Looking Statements
This press release may contain forward-looking statements as defined by the Private Securities Litigation Reform Act of 1995. Such statements involve risks and uncertainties, and actual results may vary significantly from those anticipated. Stakeholders should consult the various filings for a complete understanding of these risks.
For additional information about PennantPark Investment Corporation, visit www.pennantpark.com or contact Richard T. Allorto, Jr. at (212) 905-1000.