UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549


FORM 8-K

CURRENT REPORT

Pursuant to Section 13 or 15(d) of the
Securities Exchange Act of 1934







Date of Report: April     01, 2013

(Date of earliest event reported)




PennantPark Floating Rate Capital Ltd.

(Exact name of registrant as specified in its charter)





Maryland

(State or other jurisdiction 
of incorporation)


814-00891

(Commission File Number)


27-3794690

(IRS Employer 
Identification Number)






590 Madison Avenue, 15th Floor, New York, NY

(Address of principal executive offices)

 

10022

(Zip Code)




212-905-1000
(Registrant's telephone number, including area code)




Not Applicable
(Former Name or Former Address, if changed since last report)








Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:


 
o Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

 
o Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

 
o Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

  

 
o Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

  





Item 1.01. Entry into a Material Definitive Agreement



On March 29, 2013, PennantPark Floating Rate Capital Ltd. (the "Company"), through PennantPark Floating Rate Funding I, LLC, a wholly-owned subsidiary of the Company ("Funding I"), entered into an amendment of its amended and restated revolving credit facility (as amended, the "Credit Facility") with SunTrust Bank, which (i) increased the size of the Credit Facility from $100 million to $125 million, (ii) reduced the interest rate on amounts drawn under the Credit Facility from 225 to 200 basis points above the London Interbank Offer Rate for the revolving period which extends through May 14, 2015, (iii) reduced the undrawn Commitment Fee and (iv) extended the maturity date to May 14, 2018. PennantPark Investment Advisers LLC, the Company's investment adviser, is the collateral manager, SunTrust Robinson Humphrey, Inc. acted as lead arranger, SunTrust Bank acted as administrative agent and U.S. Bank National Association serves as collateral agent, as backup collateral manager and as custodian.



As previously disclosed, the Credit Facility is secured by all of the assets held by Funding I and includes customary covenants, including minimum asset coverage and minimum equity requirements.



The description above is only a summary of the material provisions of the Credit Facility, as amended, and is qualified in its entirety by reference to the Credit Facility.



A press release announcing the amendment to the Credit Facility is attached hereto as Exhibit 99.1.



Item 2.03. Creation of a Direct Financial Obligation or an Obligation Under an Off-Balance Sheet Arrangement of a Registrant



The information set forth in Item 1.01 is incorporated by reference into this Item 2.03.

Item 9.01. Financial Statements and Exhibits





(d) Exhibits

             99.1       Press Release of PennantPark Floating Rate Capital Ltd. dated April     01, 2013




SIGNATURE

      Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be
              signed on its behalf by the undersigned hereunto duly authorized.








Dated: April     01, 2013



PENNANTPARK FLOATING RATE CAPITAL LTD.

By:  /s/ Aviv Efrat                      

     Aviv Efrat

     Chief Financial Officer & Treasurer







Exhibit Index



Exhibit No.
Description


99.1
Press Release of PennantPark Floating Rate Capital Ltd. dated April     01, 2013