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New Mountain Finance Corporation Announces Financial Results for the Quarter Ended June 30, 2021
NEW YORK--(BUSINESS WIRE)-- New Mountain Finance Corporation (NASDAQ: NMFC) (the "Company", "we", "us" or "our") today announced its financial results for
About this update from New Mountain Finance Corporation
[{"type":"text","content":" NEW YORK--(BUSINESS WIRE)--\nNew Mountain Finance Corporation (NASDAQ: NMFC) (the \"Company\", \"we\", \"us\" or \"our\") today announced its financial results for the quarter ended June 30, 2021 and reported second quarter net investment income of $0.30 per weighted average share. At June 30, 2021, net asset value (“NAV”) per share was $13.33, compared to $12.85 at March 31, 2021. The Company also announced that its board of directors declared a third quarter distribution of $0.30 per share, which will be payable on September 30, 2021 to holders of record as of September 16, 2021. For additional details related to the quarter ended June 30, 2021, please refer to the New Mountain Finance Corporation Form 10-Q filed with the SEC and the supplemental investor presentation which can be found on the Company's website at http://www.newmountainfinance.com.\n\nSelected Financial Highlights\n\n\n(in thousands, except per share data)\nJune 30, 2021\n\n\n\n\nInvestment Portfolio(1)\n$\n\n3,110,310\n\n\n\n\n\n\nTotal Assets\n$\n\n3,180,060\n\n\n\n\n\n\nTotal Statutory Debt(3)\n$\n\n1,539,632\n\n\n\n\n\n\nNAV(2)\n$\n\n1,292,130\n\n\n\n\n\n\n\n\n \n\n\n\n\n\n\nNAV per Share\n$\n\n13.33\n\n\n\n\n\n\nStatutory Debt/Equity\n\n1.19x\n\n\n\n\n\n\n\n\n \n\n\n\n\n\n\nInvestment Portfolio Composition\nJune 30, 2021\n\nPercent of Total\n\n\nFirst Lien\n$\n\n1,606,232\n\n\n\n\n51.6%\n\n\n\n\nSecond Lien(1)\n\n\n677,856\n\n\n\n\n21.8%\n\n\n\n\nSubordinated\n\n\n37,982\n\n\n\n\n1.2%\n\n\n\n\nPreferred Equity\n\n\n201,053\n\n\n\n\n6.5%\n\n\n\n\nInvestment Fund\n\n\n252,400\n\n\n\n\n8.1%\n\n\n\n\nCommon Equity and Other(4)\n\n\n334,787\n\n\n\n\n10.8%\n\n\n\n\nTotal\n$\n\n3,110,310\n\n\n\n\n100.0%\n\n\n\n\n_____________________________\n\n\n\n(1)\n\n\n\n\nIncludes collateral for securities purchased under collateralized agreements to resell.\n\n\n\n\n\n(2)\n\n\n\n\nExcludes non-controlling interest in New Mountain Net Lease Corporation (“NMNLC”).\n\n\n\n\n\n(3)\n\n\n\n\nExcludes 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\n\n\n\n\n(4)\n\n\n\n\nIncludes investments held in NMNLC.\n\n\n\n\nWe believe that the strength of the Company’s unique investment strategy – which focuses on middle market defensive growth companies that...