09/23/2024 | Press release | Distributed by Public on 09/23/2024 15:26
Issuer: | New Mountain Finance Corporation (the "Issuer") |
Security: | 6.200% Notes due 2027 |
Ratings (Moody's/Fitch/KBRA)*: | Baa3 / BBB- / BBB- |
Aggregate Principal Amount Offered: | $300,000,000 |
Maturity Date: | October 15, 2027, unless earlier repurchased or redeemed |
Trade Date: | September 23, 2024 |
Price to Public (Issue Price): | The Notes will be issued at a price of 99.363% of their principal amount, plus accrued interest, if any, from September 26, 2024. |
Coupon (Interest Rate): | 6.200% |
Yield to Maturity: | 6.431% |
Spread to Benchmark Treasury: | T + 295 bps |
Benchmark Treasury: | 3.375% due September 15, 2027 |
Benchmark Treasury Price and Yield: | 99-22+ / 3.481% |
Interest Payment Dates: | April 15 and October 15, commencing April 15, 2025 |
Make-Whole Redemption: |
The Issuer may redeem some or all of the Notes, in whole or in part, at any time, or from time to time, at a redemption price equal to the greater of:
•(a) the sum of the present values of the remaining scheduled payments of principal and interest thereon, discounted to the redemption date on a semi-annual basis (assuming a 360-day year consisting of twelve 30-day months) at the Treasury Rate plus 45 basis points less (b) interest accrued to the date of redemption; and
•100% of the principal amount of the Notes to be redeemed;
plus, in either case, accrued and unpaid interest thereon to the redemption date.
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Change of Control: | Holders have the right to require the Issuer to repurchase the Notes at 100% of their principal amount plus accrued and unpaid interest, if any, in the event of a change of control repurchase event. |
Settlement Date**: | September 26, 2024 (T+3) |
Denomination: | $2,000 and integral multiples of $1,000 in excess thereof |
CUSIP: | 647551 AG5 |
ISIN: | US647551AG52 |
Joint Book-Running Managers: |
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
R. Seelaus & Co., LLC
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Joint Lead Manager: |
Keefe, Bruyette & Woods, Inc.
U.S. Bancorp Investments, Inc.
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Co-Managers: |
B. Riley Securities, Inc.
First Citizens Capital Securities, LLC
Raymond James & Associates, Inc.
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