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New Mountain Finance Corporation Announces Financial Results for the Quarter Ended March 31, 2020
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 ended March 31, 2020 and reported first quarter net investment income of $0.32 per weighted average share and adjusted net investment income1 of $0.35 per weighted average share. At March 31, 2020, net asset value (“NAV”) per share was $11.14, compared to $13.26 at December 31, 2019. The Company also announced that its board of directors declared a second quarter distribution of $0.30 per share, which will be payable on June 30, 2020 to holders of record as of June 16, 2020. For additional details related to the quarter ended March 31, 2020, please refer to the New Mountain Finance Corporation Form 10-Q filed with the SEC and the supplemental investor presentation which can be found on the Company's website at http://www.newmountainfinance.com.\n\n\n\n\nSelected Financial Highlights\n\n\n\n\n\n\n\n\n(in thousands, except per share data)\n\n\nMarch 31, 2020\n\n\n\n\n\n\nInvestment Portfolio(1)\n\n\n$\n\n\n\n3,012,739\n\n\n\n\n\n\nTotal Assets\n\n\n$\n\n\n\n3,103,532\n\n\n\n\n\n\nTotal Statutory Debt(3)\n\n\n$\n\n\n\n1,682,510\n\n\n\n\n\n\nNAV(2)\n\n\n$\n\n\n\n1,078,190\n\n\n\n\n\n\n\n\n\n\n\n \n\n\nNAV per Share\n\n\n$\n\n\n\n11.14\n\n\n\n\n\n\nStatutory Debt/Equity\n\n\n1.56x\n\n\n\n\n\n\n\n\n\n \n\n\nInvestment Portfolio Composition\n\n\nMarch 31, 2020\n\n\n\n\nPercent of Total\n\n\n\n\nFirst Lien\n\n\n$\n\n\n\n1,789,750\n\n\n\n\n59.4%\n\n\n\n\nSecond Lien(1)\n\n\n\n718,162\n\n\n\n\n23.8%\n\n\n\n\nSubordinated\n\n\n\n46,983\n\n\n\n\n1.6%\n\n\n\n\nPreferred Equity\n\n\n\n121,862\n\n\n\n\n4.0%\n\n\n\n\nInvestment Fund\n\n\n\n204,632\n\n\n\n\n6.8%\n\n\n\n\nCommon Equity and Other(4)\n\n\n\n131,350\n\n\n\n\n4.4%\n\n\n\n\nTotal\n\n\n$\n\n\n\n3,012,739\n\n\n\n\n100.0%\n\n\n\n\n\n\n\n\n\n \n\n\n\n\n\nSupplemental Information Regarding Adjusted Net Investment Income\n\n\n\n\n\n\n \n\n\n\n\n\nThree Months Ended March 31, 2020\n\n\n\n\n(in millions, except per share data)\n\n\nGAAP(5)\n\n\n\n\nNon-recurring\nAdjustments(6)\n\n\n\n\nAdjusted(6)\n\n\n\n\nNet investment income (\"NII\")\n\n\n$31.3\n\n\n\n\n$2.7\n\n\n\n\n$34.0\n\n\n\n\nNet investment income per weighted average share\n\n\n$0.32\n\n\n\n\n$0.03\n\n\n\n\n$0.35\n\n\n\n\n\n\n\n\n\n\n \n\n\n\n(1) Includes col...