Filed Pursuant to Rule 497(a)
Registration No. 333-235532
Rule 482ad
CONTACT:
PennantPark Floating Rate Capital Ltd.
212-905-1000
InvestorRelations@pennantpark.com
FOR
IMMEDIATE RELEASE
PennantPark Floating Rate Capital Ltd. Prices Public Offering of $100.0 Million 4.25% Notes Due 2026
NEW YORK, NY, March 18, 2021 — PennantPark Floating Rate Capital Ltd. (NASDAQ: PFLT) (TASE: PFLT) announced that it has priced an
underwritten public offering of $100.0 million in aggregate principal amount of its 4.25% unsecured notes due 2026. The notes will mature on April 1, 2026 and may be redeemed in whole or in part at PennantPark Floating Rate Capital
Ltd.’s option at any time at par plus a “make-whole” premium, if applicable; provided that the notes may be redeemed at par three months prior to their maturity. The offering is expected to close on March 23, 2021, subject to
customary closing conditions.
Goldman Sachs & Co. LLC, Keefe, Bruyette & Woods, Inc. and Truist Securities, Inc. are acting as joint
book-running managers for this offering. JMP Securities LLC and Ladenburg Thalmann & Co. Inc. are acting as co-managers for this offering.
PennantPark Floating Rate Capital Ltd. expects to use the net proceeds from selling securities from this offering to reduce outstanding obligations
under its credit facility, to invest in new or existing portfolio companies or for other general corporate or strategic purposes.
Other Information
Investors are advised to carefully consider the investment objectives, risks, charges and expenses of PennantPark Floating Rate Capital Ltd. before
investing. The pricing term sheet dated March 18, 2021, the preliminary prospectus supplement dated March 18, 2021 and the accompanying prospectus dated January 29, 2020, each of which have been filed with the Securities and Exchange
Commission (the “SEC”), contain this and other information about PennantPark Floating Rate Capital Ltd. and should be read carefully before investing.
The information in the pricing term sheet, the preliminary prospectus supplement, the accompanying prospectus and this press release is not complete and may
be changed. The pricing term sheet, the preliminary prospectus supplement, the accompanying prospectus and this press release are not offers to sell any securities of PennantPark Floating Rate Capital Ltd. and are not soliciting an offer to buy such
securities in any state or jurisdiction where such offer and sale is not permitted.
PFLT’s shelf registration statement is on file and has
been declared effective by the SEC. The offering may be made only by means of a preliminary prospectus supplement and an accompanying prospectus.
Before you invest, you should read the prospectus in that registration statement, the preliminary prospectus supplement and other documents PFLT has filed
with the SEC for more complete information about PFLT and this offering. You may get these documents for free by visiting EDGAR on the SEC website at www.sec.gov. Alternatively, you may obtain copies of the preliminary prospectus supplement and
the accompanying prospectus from: Goldman Sachs & Co. LLC, Attn: Prospectus Department, 200 West Street, New York, NY 10282, telephone:
1-866-471-2526, facsimile:
1-212-902-9316 or email: prospectus-ny@ny.email.gs.com; Keefe, Bruyette & Woods,
A Stifel Company, Attn: Prospectus Department, 787 Seventh Avenue, Fourth Floor, New York, NY 10019, telephone: 1-800-966-1559,
facsimile: 1-212-581-1592 or email: USCapitalMarkets@kbw.com; and Truist Securities Inc., Attn: Prospectus Department, 303
Peachtree Road, Atlanta, GA 30308, telephone: 1-800-685-4786 or email: TSIDocs@Truist.com. You are advised to obtain a copy of
the prospectus supplement and accompanying prospectus and to carefully review the information contained or incorporated by reference therein before making any investment decision.