PennantPark Investment Corporation Announces Financial Results for the Fourth Quarter and Fiscal Year Ended September 30, 2020

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NEW YORK, Nov. 19, 2020 (GLOBE NEWSWIRE) — PennantPark Investment Corporation (NASDAQ: PNNT) announced today financial results for the fourth quarter and fiscal year ended September 30, 2020.HIGHLIGHTSQuarter ended September 30, 2020 ($ in millions, except per share amounts)Assets and Liabilities:Investment portfolio (1)$1,081.8Net assets$525.7GAAP net asset value per share$7.84Increase in GAAP net asset value per share0.3%Adjusted net asset value per share (2)$7.59Increase in adjusted net asset value per share (2)1.7%Truist Credit Facility$368.72024 Notes$83.8SBA Debentures$115.8Regulatory Debt to Equity0.93xRegulatory Net Debt to Equity (3)0.88xGAAP Net Debt to Equity (4)1.03xYield on debt investments at quarter-end8.9%Quarter EndedSeptember 30, 2020Year EndedSeptember 30, 2020Operating Results:Net investment income$7.3$38.7GAAP net investment income per share$0.11$0.58Non-recurring net PSLF transaction costs per share$0.03$0.03Core net investment income per share (5)$0.14$0.61Distributions declared per share$0.12$0.60Portfolio Activity:Purchases of investments$27.1$319.3Sales and repayments of investments$48.6$162.7Number of new portfolio companies invested325Number of existing portfolio companies invested758Number of ending portfolio companies8080____________(1)Includes investments in PennantPark Senior Loan Fund, LLC, or PSLF, an unconsolidated joint venture, totaling $99.3 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 …

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