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Sutherland Represents Bear Stearns, Banc of America Securities, UBS Investment and SunTrust Robinson Humphrey in $300 Million IPO

July 30, 2007

WASHINGTON (July 30, 2007) – Sutherland Asbill & Brennan LLP announces the firm recently represented Bear Stearns & Co. Inc., Banc of America Securities LLC, UBS Investment Bank and SunTrust Robinson Humphrey as representatives of the underwriters in connection with the initial public offering of 20,000,000 shares of common stock of PennantPark Investment Corporation, for total proceeds of $300 million, before underwriting discounts and commissions and estimated offering expenses. 

The Sutherland team was led by members of the firm's Securities/Corporate Governance Group, including Partner Cynthia M. Krus and Associates John J. Mahon and T. Joy Holloway, and Financial Services Group, including partner Steven B. Boehm.

Inquiries related to this transaction may be directed to Cynthia M. Krus, chair of the Sutherland Securities/Corporate Governance Group, at 202.383.0218 or cynthia.krus@sablaw.com.

Sutherland Asbill & Brennan LLP is a national law firm known for solving challenging business problems and resolving unique legal issues for many of the nation's largest companies.  Founded in 1924, the firm has grown to more than 450 lawyers with offices in Atlanta, Austin, Houston, New York, Tallahassee and Washington.  For further information about the firm, please visit sutherland.com.

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