New Mountain Finance Corporation (the “Company,” “we,” “us” or
“our”) (Nasdaq: NMFC) today announced that it has priced an
underwritten public offering of $300 million in aggregate principal
amount of 6.200% unsecured notes due 2027 (the “Notes”).
The Notes will mature on October 15, 2027, and may be redeemed
in whole or in part at the Company’s option at any time prior to
October 15, 2027, at par plus a “make-whole” premium plus accrued
interest. The Notes will bear interest at a rate of 6.200% per year
payable semi-annually on April 15 and October 15 of each year,
beginning April 15, 2025.
The offering is expected to close on September 26, 2024, subject
to the satisfaction of customary closing conditions.
SMBC Nikko Securities America, Inc., Deutsche Bank Securities
Inc., Goldman Sachs & Co. LLC, Wells Fargo Securities, LLC,
CIBC World Markets Corp., Citizens JMP Securities, LLC and R.
Seelaus & Co., LLC are serving as the joint book-running
managers for this offering. Keefe, Bruyette & Woods, A Stifel
Company and U.S. Bancorp Investments, Inc. are acting as the joint
lead managers for this offering. B. Riley Securities, Inc., First
Citizens Capital Securities, LLC and Raymond James &
Associates, Inc. are acting as co-managers for this offering. The
Company intends to use the net proceeds from this offering to repay
existing indebtedness outstanding under the Company’s senior
secured revolving credit facilities, namely the Holdings Credit
Facility, the NMFC Credit Facility, and the DB Credit Facility.
Investors are advised to consider carefully the investment
objective, risks and charges and expenses of the Company before
investing. The preliminary prospectus supplement dated September
23, 2024, and the accompanying prospectus dated June 26, 2024, each
of which has been filed with the Securities and Exchange Commission
(the “SEC”), contain a description of these matters and other
important information about the Company and should be read
carefully before investing.
This press release does not constitute an offer to sell or the
solicitation of an offer to buy, nor will there be any sale of, the
Notes referred to in this press release in any state or
jurisdiction in which such offer, solicitation or sale would be
unlawful prior to the registration or qualification under the
securities laws of such state or jurisdiction. A registration
statement (File No. 333-280501) relating to the Notes was filed and
has been declared effective by the SEC.
This offering is being made solely by means of a written
prospectus forming part of the effective registration statement and
a related preliminary prospectus supplement, which may be obtained
for free by visiting the SEC’s website at www.sec.gov or from of
any of the following investment banks by calling: SMBC Nikko
Securities America, Inc. at 1-212-224-5135, Deutsche Bank
Securities Inc. at 1-800-503-4611, Goldman Sachs & Co. LLC at
1-866-471-2526, or Wells Fargo Securities, LLC at
1-800-645-3751.
ABOUT NEW MOUNTAIN FINANCE CORPORATION
New Mountain Finance Corporation (NASDAQ: NMFC) is a leading
business development company (BDC) focused on providing direct
lending solutions to U.S. middle market companies backed by top
private equity sponsors. Our portfolio consists primarily of senior
secured loans, and select junior capital positions, to growing
businesses in defensive industries that offer attractive
risk-adjusted returns. Our differentiated investment approach
leverages the deep sector knowledge and operating resources of New
Mountain Capital, a global investment firm with approximately $55
billion of assets under management.
ABOUT NEW MOUNTAIN CAPITAL
New Mountain Capital ("NMC") is a New York-based investment firm
that emphasizes business building and growth, rather than debt, as
it pursues long-term capital appreciation. The firm currently
manages private equity, credit and net lease investment strategies
with approximately $55 billion in assets under management. New
Mountain seeks out what it believes to be the highest quality
growth leaders in carefully selected industry sectors and then
works intensively with management to build the value of these
companies. For more information on New Mountain Capital, please
visit http://www.newmountaincapital.com.
FORWARD-LOOKING STATEMENTS
Statements included herein contain certain “forward-looking
statements” within the meaning of the federal securities laws,
including statements with regard to the Company’s Notes offering
and the anticipated use of the net proceeds of the offering.
Forward-looking statements can be identified by the use of forward
looking words such as “outlook,” “believes,” “expects,”
“potential,” “continues,” “may,” “will,” “should,” “seeks,”
“approximately,” “predicts,” “intends,” “plans,” “estimates,”
“anticipates” or negative versions of those words, other comparable
words or other statements that do not relate to historical or
factual matters. The forward-looking statements are based on our
beliefs, assumptions and expectations of future events and our
future performance, taking into account all information currently
available to us. These statements are not guarantees of future
events, performance, condition or results and involve a number of
risks and uncertainties, including the factors set forth in “Risk
Factors” and elsewhere in our annual report on Form 10-K, our
quarterly reports on Form 10-Q, and our other filings with the SEC.
Actual results may differ materially from those in the
forward-looking statements as a result of a number of factors,
including, but not limited to, changes in the economy, financial
and lending markets, and the geopolitical environment; changes in
the markets in which we invest; changes in the interest rate
environment and its impact on our business and portfolio companies;
the impact of elevated levels of inflation and its impact on our
portfolio companies and the industries in which we invest; future
changes in laws or regulations (including the interpretation of
these laws and regulations by regulatory authorities) and
conditions in our operating areas, particularly with respect to
business development companies or regulated investment companies;
and other considerations that may be disclosed from time to time in
our publicly disseminated documents and filings.
Any forward-looking statement speaks only as of the date on
which it is made. New Mountain Finance Corporation undertakes no
duty to update any forward-looking statements made herein, whether
as a result of new information, future developments or otherwise,
except as required by law.
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version on businesswire.com: https://www.businesswire.com/news/home/20240923631279/en/
New Mountain Finance Corporation Investor Relations Laura C.
Holson, Authorized Representative NMFCIR@newmountaincapital.com
(212) 220-3505
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