Contact Information: Contact: Aviv Efrat PennantPark Investment Corporation (212) 307-3280 Or visit us at: www.pennantpark.com
PennantPark Investment Corporation Enters Into $300 Million Five-Year Credit Facility
| Source: PennantPark Investment Corporation
NEW YORK, NY--(Marketwire - June 25, 2007) - PennantPark Investment Corporation
("PennantPark") (NASDAQ : PNNT ) announced today that it has entered into a
five-year, $300 million secured multi-currency revolving credit facility
(the "Facility") with certain lenders. SunTrust Robinson Humphrey acted as
joint lead arranger and book-runner and Bear Stearns acted as joint lead
arranger and syndication agent of the Facility. SunTrust Bank acted as the
administrative agent for each of the lenders. The Facility will be used to
supplement PennantPark's equity capital to make additional portfolio
investments.
"We are pleased to have closed on a credit facility of this size and
duration. This long-term credit facility nicely complements our permanent
equity capital base. We now have the added flexibility and capital to
expand our investment portfolio on a cost-effective basis. We believe that
future borrowings under this credit facility will be accretive to our
earnings and improve yields for our shareholders," said Chairman and Chief
Executive Officer, Arthur H. Penn.
About PennantPark Investment Corporation
PennantPark Investment Corporation is a business development company which
principally invests in private U.S. middle-market companies in the form of
senior secured loans, mezzanine loans and equity. From time to time, the
Company may also invest in public companies. PennantPark Investment
Corporation is managed by PennantPark Investment Advisers, LLC.
Forward-Looking Statements
This press release may contain "forward-looking statements" within the
meaning of the Private Securities Litigation Reform Act of 1995. All
statements other than statements of historical facts included in this press
release are forward-looking statements and are not guarantees of future
performance or results and involve a number of risks and uncertainties.
Actual results may differ materially from those in the forward-looking
statements as a result of a number of factors, including those described
from time to time in filings with the Securities and Exchange Commission.
The Company undertakes no duty to update any forward-looking statements
made herein. All forward-looking statements speak only as of the date of
this press release.