New Mountain Finance Corporation Announces $300 Million Note Offering
New Mountain Finance Corporation's Public Offering of Notes
New Mountain Finance Corporation (the “Company,” “we,” “us” or “our”) (NASDAQ: NMFC) proudly announces the pricing of its recent public offering, amounting to $300 million in unsecured notes due in 2027. This offering reflects our commitment to strengthening our financial foundation while paving the way for future growth.
Details of the Notes Offering
The 6.200% unsecured notes are set to mature on a specified date in 2027 and can be redeemed before maturity under certain conditions. Investors will receive interest payments at a semi-annual rate of 6.200%, with the first payment scheduled to commence in 2025. This public offering is expected to close shortly, pending standard conditions.
Investment Managers and Collaboration
In this undertaking, we collaborate with reputable investment banks including SMBC Nikko Securities America, Deutsche Bank Securities, Goldman Sachs, and others, who are instrumental in facilitating this offering. Their expertise ensures that the process runs smoothly, maximizing the potential success of our public offering.
Application of Proceeds
The proceeds from this note offering will be primarily directed towards repaying existing debts associated with our senior secured revolving credit facilities. This strategic move underscores our dedication to managing financial obligations while continuing to pursue growth opportunities.
Considerations for Investors
Potential investors are encouraged to thoroughly evaluate their investment goals, risks, and financial obligations associated with this offering. The information contained in our preliminary prospectus and accompanying documents is crucial for understanding the comprehensive details and potential impact of investing in our notes.
About New Mountain Finance Corporation
New Mountain Finance Corporation is recognized as a leading business development company, specializing in delivering direct lending solutions specifically catered to middle-market businesses across various industries. Our portfolio primarily features senior secured loans that bring a balance of security and opportunity, primarily in sectors that yield attractive risk-adjusted returns.
Our Vision and Strategy
Our approach is distinguished by our focus on collaboration with top private equity sponsors, which fortifies our lending strategies. We leverage our deep understanding of the market and advantageous partnerships to navigate investments effectively, while managing over $55 billion in assets under our guidance.
The New Mountain Capital Edge
New Mountain Capital, our parent firm, emphasizes a growth-oriented investment philosophy. Rather than solely relying on debt, our focus is placed on fostering business development for long-term capital appreciation. With a diverse portfolio that spans private equity, credit, and net lease investment strategies, NMC stands out as an investor that seeks out promising growth leaders across carefully selected sectors.
Frequently Asked Questions
What are the key features of the new notes issued by New Mountain Finance Corporation?
The notes are unsecured with a 6.200% interest rate, set to mature in 2027, and can be redeemed early under specific conditions.
How will the proceeds from the offering be utilized?
The net proceeds will primarily be used to pay down existing debt from the company's senior secured revolving credit facilities.
When is the expected closing date for the offering?
The offering is anticipated to conclude shortly, subject to the satisfaction of typical closing conditions.
What should investors consider before investing?
Investors should review the offering documents carefully, focusing on risk factors, investment goals, and potential returns.
How is New Mountain Finance Corporation positioned within the market?
As a leading business development company, NMFC is strategically focused on providing lending solutions backed by top private equity sponsors, with a robust portfolio of senior secured loans.
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