New Mountain Finance Corporation Closes Private Placement of $200 Million of 3.875% Unsecured Notes Due 2026
February 01 2021 - 4:59PM
Business Wire
New Mountain Finance Corporation (Nasdaq: NMFC)
(the "Company", “NMFC”, or "our") announced today that on January
29, 2021, it closed on a private placement of $200 million in
aggregate principal amount of 3.875% Series 2021A Unsecured Notes
due January 29, 2026 (the “Notes”) by entering into a fifth
supplement (the “Supplement”) to its Amended and Restated Note
Purchase Agreement dated September 30, 2016 (the “Note Purchase
Agreement”). The Company intends to use the proceeds of the
offering to redeem its 5.31% Unsecured Notes due May 2021, to repay
other outstanding debt and for general corporate purposes. Except
as set forth in the Supplement, the Notes have the same terms as
the unsecured notes that the Company previously issued pursuant to
the Note Purchase Agreement and the supplements thereto,
respectively.
John R. Kline, President & COO, commented: “We are very
pleased to announce the completion of our most recent debt offering
which successfully addresses near-term debt maturities, maintains
our diversified funding profile and reduces NMFC’s overall cost of
capital. The offering was supported by many of our existing lenders
who continue to be great long-term supporters of NMFC as well as a
new group of lenders who we would like to welcome as long-term
partners.”
Deutsche Bank Securities Inc. acted as exclusive placement agent
for the Company in connection with the Notes offering.
ABOUT NEW MOUNTAIN FINANCE CORPORATION
New Mountain Finance Corporation is a closed-end,
non-diversified and externally managed investment company that has
elected to be regulated as a business development company under the
Investment Company Act of 1940, as amended. The Company’s
investment objective is to generate current income and capital
appreciation through the sourcing and origination of debt
securities at all levels of the capital structure, including first
and second lien debt, notes, bonds and mezzanine securities. The
Company’s first lien debt may include traditional first lien senior
secured loans or unitranche loans. Unitranche loans combine
characteristics of traditional first lien senior secured loans as
well as second lien and subordinated loans. Unitranche loans will
expose the Company to the risks associated with second lien and
subordinated loans to the extent it invests in the “last out”
tranche. In some cases, the investments may also include small
equity interests. The Company’s investment activities are managed
by its Investment Adviser, New Mountain Finance Advisers BDC,
L.L.C., which is an investment adviser registered under the
Investment Advisers Act of 1940, as amended. More information about
New Mountain Finance Corporation can be found on the Company’s
website at http://www.newmountainfinance.com.
FORWARD-LOOKING STATEMENTS
Statements included herein may contain “forward-looking
statements”, which relate to our future operations, future
performance or our financial condition. Forward-looking statements
are not guarantees of future performance, condition or results and
involve a number of risks and uncertainties, including the impact
of COVID-19 and related changes in base interest rates and
significant volatility on our business, portfolio companies, our
industry and the global economy. Actual results and outcomes may
differ materially from those anticipated in the forward-looking
statements as a result of a variety of factors, including those
described from time to time in our filings with the Securities and
Exchange Commission or factors that are beyond our control. New
Mountain Finance Corporation undertakes no obligation to publicly
update or revise any forward-looking statements made herein, unless
required to do so by law. All forward-looking statements speak only
as of the time of this press release.
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version on businesswire.com: https://www.businesswire.com/news/home/20210201005941/en/
New Mountain Finance Corporation Investor Relations Shiraz Y.
Kajee, Authorized Representative NMFCIR@newmountaincapital.com
(212) 220-3505
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