Chicago, Feb. 7 – PennantPark Investment Advisers LLC priced $350.55 million in a collateralized loan obligation being issued by PennantPark CLO VIII LLC, according to a presale report.
The CLO will mature on April 18, 2036.
The transaction consists of $60 million of class A-1 loans senior secured floating-rate loans at SOFR plus 230 basis points, $139.5 million of class A-1 senior secured floating-rate notes at SOFR plus 230 bps, $14 million of class A-2 senior secured floating-rate notes at SOFR plus 270 bps, $24.5 million of class B senior secured deferrable floating-rate notes at SOFR plus 290 bps, $28 million of class C senior secured deferrable floating-rate notes at SOFR plus 390 bps, $21 million of class D senior secured deferrable floating-rate notes at SOFR plus 590 bps and $63.55 million of subordinated notes.
PennantPark Investment Advisers LLC will manage the collateral through the end of the reinvestment period on April 18, 2028.
Collateral for the CLO consists of middle-market speculative-grade senior secured term loans.
The CLO can be called starting Feb. 22, 2026.
GreensLedge Capital Markets LLC was the placement agent.
The middle-market investment firm is based in New York.
| Issuer: | PennantPark CLO VIII LLC
|
| Issue: | Floating-rate loans, floating-rate notes and subordinated notes
|
| Amount: | $350.55 million
|
| Maturity: | April 18, 2036
|
| Structure: | Cash flow CLO
|
| Placement agent: | GreensLedge Capital Markets LLC
|
| Manager: | PennantPark Investment Advisers LLC
|
| Call feature: | Feb. 22, 2026
|
| Pricing date: | Feb. 7
|
| Settlement date: | Feb. 22
|
|
|
| Class A-1 loans
|
| Amount: | $60 million
|
| Securities: | Senior secured floating-rate loans
|
| Coupon: | SOFR plus 230 bps
|
| Rating: | S&P: AAA
|
|
|
| Class A-1 notes
|
| Amount: | $139.5 million
|
| Securities: | Senior secured floating-rate notes
|
| Coupon: | SOFR plus 230 bps
|
| Rating: | S&P: AAA
|
|
|
| Class A-2 notes
|
| Amount: | $14 million
|
| Securities: | Senior secured floating-rate notes
|
| Coupon: | SOFR plus 270 bps
|
| Rating: | S&P: AAA
|
|
|
| Class B notes
|
| Amount: | $24.5 million
|
| Securities: | Senior secured deferrable floating-rate notes
|
| Coupon: | SOFR plus 290 bps
|
| Rating: | S&P: AA
|
|
|
| Class C notes
|
| Amount: | $28 million
|
| Securities: | Senior secured deferrable floating-rate notes
|
| Coupon: | SOFR plus 390 bps
|
| Rating: | S&P: A
|
|
|
| Class D notes
|
| Amount: | $21 million
|
| Securities: | Senior secured deferrable floating-rate notes
|
| Coupon: | SOFR plus 590 bps
|
| Rating: | S&P: BBB-
|
|
|
| Subordinated notes
|
| Amount: | $63.55 million
|
| Securities: | Subordinated notes
|
|
|
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