Item 1.01.
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Entry into a Material Definitive Agreement.
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Joint Venture
On July 31, 2020, PennantPark
Investment Corporation (the Company), and certain entities and managed accounts of the private credit investment manager of Pantheon Ventures (UK) LLP (Pantheon) entered into an amended and restated limited liability company
agreement (the LLC Agreement) to co-manage a newly-formed joint venture, PennantPark Senior Loan Fund, LLC (the Joint Venture).
Credit Facility Amendment
On July 31, 2020 (the
Effective Date), PennantPark Investment Funding I, LLC (the Borrower), a wholly-owned subsidiary of the unconsolidated Joint Venture, entered into an amendment (the Credit Facility Amendment) to the following
documents governing the senior secured revolving credit facility (as amended, the Credit Facility): (i) the revolving credit and security agreement, with the lenders from time to time parties thereto, BNP Paribas, as administrative
agent, the Company, as sponsor, the Joint Venture, as equityholder, PennantPark Investment Advisers, LLC, as servicer, and The Bank of New York Mellon Trust Company, National Association, as collateral agent, and (ii) the purchase and sale
agreement by and between the Borrower, as purchaser, and the Company, as seller.
The Credit Facility Amendment, among other things, reflects the
acquisition of the equity interests in the Borrower by the Joint Venture and adopts ARRC-recommended LIBOR transition language.
The description above is
only a summary of the material terms included in the LLC Agreement and the Credit Facility Amendment and is qualified in its entirety by reference to a copy of the LLC Agreement and the Credit Facility Amendment, filed as Exhibit 10.1 and Exhibit
10.2, respectively, to this report on Form 8-K.