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New Mountain Finance Corporation Announces Financial Results for the Quarter Ended June 30, 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 June 30, 2020 and reported second quarter net investment income of $0.28 per weighted average share and adjusted net investment income1 of $0.30 per weighted average share. At June 30, 2020, net asset value (“NAV”) per share was $11.63, compared to $11.14 at March 31, 2020. The Company also announced that its board of directors declared a third quarter distribution of $0.30 per share, which will be payable on September 30, 2020 to holders of record as of September 16, 2020. For additional details related to the quarter ended June 30, 2020, please refer to the New Mountain Finance Corporation Form 10-Q filed with the SEC and the supplemental investor presentation which can be found on the Company's website at http://www.newmountainfinance.com.\n\n\nSelected Financial Highlights\n\n\n\n(in thousands, except per share data)\nJune 30, 2020\n\n\n\n\nInvestment Portfolio(1)\n$\n\n2,847,884\n\n\n\n\n\n\nTotal Assets\n$\n\n2,943,558\n\n\n\n\n\n\nTotal Statutory Debt(3)\n$\n\n1,448,484\n\n\n\n\n\n\nNAV(2)\n$\n\n1,125,623\n\n\n\n\n\n\n\n\n\n\n \n\n\nNAV per Share\n$ \n\n11.63\n\n\n\n\n\n\nStatutory Debt/Equity\n\n1.29x\n\n\n\n\n\n\n\n\n \n\n\nInvestment Portfolio Composition\nJune 30, 2020\n\nPercent of Total\n\n\nFirst Lien\n$\n\n1,633,727\n\n\n\n\n57.4%\n\n\n\n\nSecond Lien(1)\n\n\n710,377\n\n\n\n\n24.9%\n\n\n\n\nSubordinated\n\n\n41,362\n\n\n\n\n1.5%\n\n\n\n\nPreferred Equity\n\n\n 117,972\n\n\n\n\n4.1%\n\n\n\n\nInvestment Fund\n\n\n 211,828\n\n\n\n\n7.4%\n\n\n\n\nCommon Equity and Other(4)\n\n\n 132,618\n\n\n\n\n4.7%\n\n\n\n\nTotal\n$\n\n 2,847,884\n\n\n\n\n100.0%\n\n\n\n\n\nSupplemental Information Regarding Adjusted Net Investment Income1\n\n\n\n\nThree Months Ended June 30, 2020\n\n\n(in millions, except per share data)\nGAAP(5)\n\n\nNon-recurring \n\n\nAdjustments(6)\n\n\n\nAdjusted(6)\n\n\nNet investment income (\"NII\")(7)\n\n$27.3\n\n\n\n\n$1.6\n\n\n\n\n$28.9\n\n\n\n\nNet investment income per weighted average share\n\n$0.28\n\n\n\n\n$0.02\n\n\n\n\n$0.30\n\n\n\n\n\n_____________________________\n\n\n(1) Includes collateral for securities purchased under collateralized agreements to resell.\n(2) Excludes non-controlling interest in New Mountain Net Le...