PennantPark Floating Rate Capital Ltd. (PennantPark Floating Rate Capital) is a development-stage company. PennantPark Floating Rate Capital is a closed-end, externally managed, non-diversified investment company. The Company�s investment objective is to seek high current income. It focuses to achieve its investment objective by investing primarily in floating rate loans and other instruments made to private middle-market companies whose debt is rated below investment grade. PennantPark Floating Rate Capital is managed by PennantPark Investment Advisers, LLC (Investment Adviser), and PennantPark Investment Administration provides the administrative services necessary for the Company to operate.