PennantPark Floating Rate Capital acquires ~$250M of assets

Business development company PennantPark Floating Rate Capital (NYSE:PFLT [https://seekingalpha.com/symbol/PFLT]) announced [https://seekingalpha.com/pr/20218299-pennantpark-floating-rate-capital-ltd-announces-acquisition-of-250-million-asset-portfolio] on Tuesday the acquisition of a portfolio of ~$250M of assets.

The company said the assets were acquired at their most recent fair market value.

The portfolio, which includes assets of Towerbrook Capital Partners-affiliate TSO Puma SPV, was distributed in connection with the winding down of PennantPark-TSO Senior Loan Fund.

"We believe that this will help optimize our portfolio and will be accretive to net investment income by approximately two cents per share per quarter," said CEO Art Penn.

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