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Msg  4006 of 4029  at  11/15/2023 5:49:23 PM  by

urhmi


PNNT-NII@0.24 /NAV @$7.70

PennantPark Investment Corporation Announces Financial Results for the Fourth Quarter and Fiscal Year Ended September 30, 2023

MIAMI, Nov. 15, 2023 (GLOBE NEWSWIRE) -- PennantPark Investment Corporation (NYSE: PNNT) announced today financial results for the fourth quarter and fiscal year ended September 30, 2023.

HIGHLIGHTS
Year ended September 30, 2023 - Unaudited
($ in millions, except per share amounts)

Assets and Liabilities:
Investment portfolio (1)$1,001.9
Net assets$502.2
Adjusted net asset value per share (2)$7.70
Quarterly increase in adjusted net asset value per share (2)0.4%
GAAP net asset value per share$7.70
Quarterly decrease in GAAP net asset value per share(0.3)%
Credit Facility$206.9
2026 Notes$147.7
2026-2 Notes$162.2
Regulatory Debt to Equity1.05x
Weighted average yield on debt investments at quarter-end13.0%
Quarter EndedYear Ended
September 30, 2023September 30, 2023
(Unaudited)(Unaudited)
Operating Results:
Net investment income$15.6$65.5
Net investment income per share$0.24$1.00
Core net investment income per share (3)$0.24$0.84
Distributions declared per share$0.21$0.76
Portfolio Activity:
Purchases of investments$61.1$275.4
Sales and repayments of investments$138.2$418.6
PSLF Portfolio data:
PSLF investment portfolio$804.2$804.2
Purchases of investments$56.9$176.2
Sales and repayments of investments$52.6$106.6
  1. Includes investments in PennantPark Senior Loan Fund, LLC ("PSLF"), an unconsolidated joint venture, totaling $164.4 million, at fair value.
  2. This is a non-GAAP financial measure. The Company believes that this number provides useful information to investors and management because it reflects the Company’s financial performance excluding the impact of unrealized gain on our multi-currency, senior secured revolving credit facility with Truist Bank, as amended, the “Credit Facility." The presentation of this additional information is not meant to be considered in isolation or as a substitute for financial results prepared in accordance with GAAP.
  3. Core net investment income ("Core NII") is a non-GAAP financial measure. The Company believes that Core NII provides useful information to investors and management because it reflects the Company's financial performance excluding one-time or non-recurring investment income and expenses. The presentation of this additional information is not meant to be considered in isolation or as a substitute for financial results prepared in accordance with GAAP. For the year ended September 30, 2023, Core NII excluded: i) $10.6 million of dividend income related to our equity investment in Dominion Voting Systems; ii) $3.1 million of accelerated amortization income with early repayment of one of our loans; iii) $0.6 million of non-recurring divided from PennantPark-TSO Senior Loan Fund II, LP, iv) $1.8 million of accrued excise taxes, and an addback of $2.2 million of incentive fee expenses.

CONFERENCE CALL AT 12:00 P.M. EST ON NOVEMBER 16, 2023

Best Rgds;


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