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U.S. investment firm PennantPark prices $139 mln Tel Aviv bond offer
November 22, 2017 / 2:44 PM / 23 days ago

U.S. investment firm PennantPark prices $139 mln Tel Aviv bond offer

JERUSALEM, Nov 22 (Reuters) -

* U.S. investment firm PennantPark Floating Rate Capital Inc said on Wednesday it priced an institutional debt offering in Israel of $138.7 million of notes maturing in 2023 and paying annual interest of 3.83 percent.

* The notes are rated “AA-” by Standard & Poor’s Maalot and will be listed for trade on the Tel Aviv Stock Exchange.

* Israel’s Leader Capital Markets underwrote the offering, which garnered demand of about $400 million.

* This was the first time that a foreign non-real estate company conducted a bond offering in Israel.

* PennantPark primarily invests in U.S. middle-market private companies in the form of floating rate senior secured loans.

* ($1 = 3.5139 shekels) (Reporting by Steven Scheer)

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