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Share Name | Share Symbol | Market | Type |
---|---|---|---|
New Mountain Finance Corporation | NASDAQ:NMFC | NASDAQ | Common Stock |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
-0.02 | -0.16% | 12.62 | 12.54 | 12.85 | 12.67 | 12.5899 | 12.64 | 457,575 | 01:00:00 |
Issuer: | New Mountain Finance Corporation (the “Issuer”) | ||||
Security: | 6.875% Notes due 2029 | ||||
Ratings (Moody’s/Fitch/KBRA)*: | Baa3 / BBB- / BBB- | ||||
Aggregate Principal Amount Offered: | $300,000,000 | ||||
Maturity Date: | February 1, 2029, unless earlier repurchased or redeemed | ||||
Trade Date: | January 25, 2024 | ||||
Price to Public (Issue Price): | The Notes will be issued at a price of 98.964% of their principal amount, plus accrued interest, if any, from February 1, 2024. | ||||
Coupon (Interest Rate): | 6.875% | ||||
Yield to Maturity: | 7.125% | ||||
Spread to Benchmark Treasury: | T+310 bps | ||||
Benchmark Treasury: | 3.750% due December 31, 2028 | ||||
Benchmark Treasury Price and Yield: | 98-25 / 4.025% | ||||
Interest Payment Dates: | February 1 and August 1, commencing August 1, 2024 | ||||
Optional Redemption: | Prior to January 1, 2029 (the “Par Call Date”), equal to the greater of the following amounts, plus, in each case, accrued and unpaid interest thereon to the redemption date: •(a) the sum of the present values of the remaining scheduled payments of principal and interest thereon, discounted to the redemption date (assuming the Notes matured on the Par Call Date) on a semi-annual basis (assuming a 360-day year consisting of twelve 30-day months) at the Treasury Rate plus 50 basis points less (b) interest accrued to the date of redemption; and •100% of the principal amount of the Notes to be redeemed; | ||||
provided, however, that if the Issuer redeems any Notes on or after the Par Call Date, the redemption price for the Notes will be equal to 100% of the principal amount of the Notes to be redeemed, plus accrued and unpaid interest thereon to the date of redemption. | |||||
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**: | February 1, 2024 (T+5) | ||||
Denomination: | $2,000 and integral multiples of $1,000 in excess thereof | ||||
CUSIP: | 647551AF7 | ||||
ISIN: | US647551AF79 | ||||
Joint Book-Running Managers: | BofA Securities, Inc. Deutsche Bank Securities Inc. SMBC Nikko Securities America, Inc. Wells Fargo Securities, LLC Goldman Sachs & Co. LLC Morgan Stanley & Co. LLC MUFG Securities Americas Inc. | ||||
Joint Lead Manager: | Keefe, Bruyette & Woods, Inc. | ||||
Co-Managers: | B. Riley Securities, Inc. Citizens JMP Securities, LLC Oppenheimer & Co. Inc. |
1 Year New Mountain Finance Chart |
1 Month New Mountain Finance Chart |
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