KBRA Assigns Rating to New Mountain Finance Corporation's $300 Million 6.875% Senior Unsecured Notes Due 2029 [Yahoo! Finance]
New Mountain Finance Corporation (NMFC)
Last new mountain finance corporation earnings: 2/26 04:35 pm
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newmountainfinance.com
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Source: Yahoo! Finance
company") $300 million 6.875% senior unsecured notes due February 1, 2029. The rating Outlook is Stable. The proceeds will primarily be used to redeem the $116.5 million of outstanding notes due April 2024 and to paydown a revolving credit facility. Key Credit Considerations The rating and Stable Outlook are supported by New Mountain Finance Corporation's ties to New Mountain Capital's ("NMC") $45+ billion AUM comprised $36 billion of private equity, $10 billion of credit, and $2 billion of net lease along with SEC exemptive relief to co-invest among affiliated NMC companies. As of September 30, 2023, NMFC had a $3.1 billion diversified investment portfolio at fair value, comprised of 110 companies across 16 industries, mostly first lien senior secured (54%, in addition to 8% senior loan fund) and second lien senior secured (17%) middle market loans, with a weighted average EBITDA of $147 million in predominantly non-cyclical defensive industries. The top three portfolio sectors,
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NMFC
News
- New Mountain Finance Corporation Announces Financial Results for the Quarter Ended March 31, 2024 [Yahoo! Finance]Yahoo! Finance
- New Mountain Finance Corporation Announces Financial Results for the Quarter Ended March 31, 2024Business Wire
- New Mountain Finance Corporation Schedules its First Quarter 2024 Earnings Release and Conference CallBusiness Wire
- New Mountain Finance: 11% Yielding BDC [Seeking Alpha]Seeking Alpha
- New Mountain Finance Corporation (NASDAQ:NMFC) Q4 2023 Earnings Call Transcript [Yahoo! Finance]Yahoo! Finance
NMFC
Earnings
- 5/1/24 - Miss
NMFC
Sec Filings
- 5/1/24 - Form 10-Q
- 5/1/24 - Form 8-K
- 4/24/24 - Form 4
- NMFC's page on the SEC website