PNNT Quick Update: Q1 2021

Summary

• PNNT reported between its base and best case projections with ‘core NII’ of $0.133 per share and 111% coverage of the quarterly dividend.

• As expected its NAV per share grew by another 5.2% mostly due to equity investments driving PNNT’s leverage (debt-to-equity) well below historical levels (0.75 net of SBA debentures).

• The company has started exit…