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New Mountain Finance Corporation Announces Financial Results for the Quarter and Year Ended December 31, 2019 and Declares First Quarter 2020 Distribution of $0.34 Per Share
NEW YORK--(BUSINESS WIRE)-- New Mountain Finance Corporation (NYSE:NMFC) (the "Company", "we", "us" or "our") today announced its financial results for the
About this update from New Mountain Finance Corporation
[{"type":"text","content":" NEW YORK--(BUSINESS WIRE)--\nNew Mountain Finance Corporation (NYSE:NMFC) (the \"Company\", \"we\", \"us\" or \"our\") today announced its financial results for the quarter and year ended December 31, 2019 and reported fourth quarter net investment income of $0.32 per weighted average share and adjusted net investment income1 of $0.36 per weighted average share. At December 31, 2019, net asset value (“NAV”) per share was $13.26, compared to $13.35 at September 30, 2019, and $13.22 at December 31, 2018. The Company also announced that its board of directors declared a first quarter distribution of $0.34 per share, which will be payable on March 27, 2020 to holders of record as of March 13, 2020.\n\n\nSelected Financial Highlights\n\n\n\n(in thousands, except per share data)\n\nDecember 31, 2019\n\n\n\n\nInvestment Portfolio(1)\n\n\n$\n\n\n\n3,181,702\n\n\n\n\n\n\nTotal Assets\n\n\n$\n\n\n\n3,266,055\n\n\n\n\n\n\nTotal Statutory Debt(2)\n\n\n$\n\n\n\n1,734,936\n\n\n\n\n\n\nNAV\n\n\n$\n\n\n\n1,283,468\n\n\n\n\n\n\n\n\n\n\n \n\n\nNAV per Share\n\n\n$\n\n\n\n13.26\n\n\n\n\n\n\nStatutory Debt/Equity\n\n\n1.35x\n\n\n\n\n\n\n\n\n\n\n \n\n\nInvestment Portfolio Composition\n\nDecember 31, 2019\n\nPercent of Total\n\n\nFirst Lien\n\n\n$\n\n\n\n1,801,615\n\n\n\n\n56.6\n\n\n\n%\n\n\n\n\nSecond Lien(1)\n\n\n\n810,290\n\n\n\n\n25.5\n\n\n\n%\n\n\n\n\nSubordinated\n\n\n\n66,774\n\n\n\n\n2.1\n\n\n\n%\n\n\n\n\nPreferred Equity\n\n\n\n135,694\n\n\n\n\n4.3\n\n\n\n%\n\n\n\n\nInvestment Fund\n\n\n\n202,400\n\n\n\n\n6.3\n\n\n\n%\n\n\n\n\nCommon Equity and Other(3)\n\n\n\n164,929\n\n\n\n\n5.2\n\n\n\n%\n\n\n\n\nTotal\n\n\n$\n\n\n\n3,181,702\n\n\n\n\n100.0\n\n\n\n%\n\n\n\n\n\nSupplemental Information Regarding Adjusted Net Investment Income\n\n\n\n\nThree Months Ended December 31, 2019\n\n\n(in millions, except per share data)\nGAAP(4)\n\nNon-recurringAdjustments(5)\n\nAdjusted(5)\n\n\nNet investment income (\"NII\")\n\n$30.6\n\n\n\n\n$3.8\n\n\n\n\n$34.4\n\n\n\n\nNet investment income per weighted average share\n\n$0.32\n\n\n\n\n$0.04\n\n\n\n\n$0.36\n\n\n\n\n\n\n\n(1) Includes collateral for securities purchased under collateralized agreements to resell.\n\n\n\n\n\n(2) Excludes the Company’s United States (“U.S.”) Small Business Administration (“SBA”)-guaranteed debentures. Includes premium received on additional convertible notes issued in June 2019.\n...