NMFC Enters New Debt Agreement

TL;DR

NMFC just took on new debt with 8.25% notes due 2028. Check the details.

AI Summary

New Mountain Finance Corporation (NMFC) entered into a material definitive agreement on July 3, 2024, related to its 8.250% Notes due 2028. This agreement also created a direct financial obligation for the registrant. The filing was made on July 9, 2024.

Why It Matters

This filing indicates a new financial obligation for New Mountain Finance Corp, potentially impacting its debt structure and financial leverage.

Risk Assessment

Risk Level: medium — The creation of new debt obligations can increase financial leverage and interest expenses, which could pose risks if not managed effectively.

Key Numbers

• 8.250% — Interest Rate (Interest rate on the new notes due 2028)
• 2028 — Maturity Year (Maturity year of the new notes)

Key Players & Entities

• New Mountain Finance Corporation (company) — Registrant
• NMFC (company) — Ticker Symbol
• July 3, 2024 (date) — Date of earliest event reported
• July 9, 2024 (date) — Filing date
• 8.250% Notes due 2028 (dollar_amount) — Specific financial instrument

FAQ

Key Financial Figures

• $0.01 — ch registered Common stock, par value $0.01 per share NMFC NASDAQ Global Select
• $525,000,000 — (iii) increase the Facility Amount from $525,000,000 to $600,000,000. The description above
• $600,000,000 — he Facility Amount from $525,000,000 to $600,000,000. The description above is qualified in

Filing Documents

• tm2419079d1_8k.htm (8-K) — 31KB
• 0001104659-24-078541.txt ( ) — 246KB
• nmfc-20240703.xsd (EX-101.SCH) — 3KB
• nmfc-20240703_def.xml (EX-101.DEF) — 26KB
• nmfc-20240703_lab.xml (EX-101.LAB) — 36KB
• nmfc-20240703_pre.xml (EX-101.PRE) — 25KB
• tm2419079d1_8k_htm.xml (XML) — 5KB

01

Item 1.01. Entry into a Material Definitive Agreement. On July 3, 2024, New Mountain Finance Corporation (the " Company ") entered into the Amendment No. 7 to the Credit and Security Agreement (the " Seventh Amendment "), which amended the Credit and Security Agreement, dated as of May 2, 2018 (together with the exhibits and schedules thereto, the " SLP III Credit Facility "), by and among NMFC Senior Loan Program III LLC, as borrower, the Company, as collateral manager, the lenders from time to time parties thereto, and Citibank, N.A., as lender and administrative agent. Unless otherwise indicated, the terms used below have the meanings ascribed in the Seventh Amendment. The Seventh Amendment amended the SLP III Credit Facility to, among other things, (i) extend the Reinvestment Period from July 8, 2024 to July 8, 2027, (ii) extend the Final Maturity Date from January 8, 2026 to January 8, 2029, and (iii) increase the Facility Amount from $525,000,000 to $600,000,000. The description above is qualified in its entirety by reference to the copy of the Seventh Amendment, which will be filed as an exhibit to the Company's Quarterly Report on Form 10-Q for fiscal quarter ended June 30, 2024.

03 Creation

Item 2.03 Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant. The disclosure set forth above under Item 1.01 is incorporated by reference herein.

Financial Statements and Exhibits

Financial Statements and Exhibits. d) Exhibits. Exhibit Number Description 104 Cover Page Interactive Data File (embedded within the Inline XBRL document). 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. New Mountain Finance Corporation By: /s/ Joseph W. Hartswell Name: Joseph W. Hartswell Title: Chief Compliance Officer and Corporate Secretary Date: July 9, 2024

View Full Filing

View this 8-K filing on SEC EDGAR