Business
New Mountain Finance Corporation Announces Financial Results for the Quarter Ended September 30, 2021
Reports Net Investment Income of $0.31 per Share, Exceeding Previous Guidance Announces a Permanent Decrease in the Base Management Fee from 1.75% to 1.40%
About this update from New Mountain Finance Corporation
[{"type":"text","content":"\nReports Net Investment Income of $0.31 per Share, Exceeding Previous Guidance\n\nAnnounces a Permanent Decrease in the Base Management Fee from 1.75% to 1.40%\n\nExtends Previously Announced Dividend Protection Program\n\n 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 September 30, 2021 and reported third quarter net investment income of $0.31 per weighted average share. At September 30, 2021, net asset value (“NAV”) per share was $13.26, compared to $13.33 at June 30, 2021. The Company also announced that its board of directors declared a fourth quarter distribution of $0.30 per share, which will be payable on December 30, 2021 to holders of record as of December 16, 2021. For additional details related to the quarter ended September 30, 2021, please refer to the New Mountain Finance Corporation Form 10-Q filed with the SEC and the supplemental investor presentation which can be found on the Company's website at http://www.newmountainfinance.com.\n\nSelected Financial Highlights\n\n\n(in thousands, except per share data)\nSeptember 30, 2021\n\n\n\n\n\nInvestment Portfolio(1)\n$\n\n3,033,076\n\n\n\n\n\n\n\nTotal Assets\n$\n\n3,168,111\n\n\n\n\n\n\n\nTotal Statutory Debt(3)\n$\n\n1,529,828\n\n\n\n\n\n\n\nNAV(2)\n$\n\n1,284,905\n\n\n\n\n\n\n\n\n\n\n\n\n \n\n\nNAV per Share\n$\n\n13.26\n\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\nInvestment Portfolio Composition\nSeptember 30, 2021\n\n\nPercent of Total\n\n\nFirst Lien\n$\n\n1,472,741\n\n\n\n\n\n48.6%\n\n\n\n\nSecond Lien(1)\n\n\n743,040\n\n\n\n\n\n24.5%\n\n\n\n\nSubordinated\n\n\n38,863\n\n\n\n\n\n1.3%\n\n\n\n\nPreferred Equity\n\n\n147,313\n\n\n\n\n\n4.8%\n\n\n\n\nInvestment Fund\n\n\n252,400\n\n\n\n\n\n8.3%\n\n\n\n\nCommon Equity and Other(4)\n\n\n378,719\n\n\n\n\n\n12.5%\n\n\n\n\nTotal\n$\n\n3,033,076\n\n\n\n\n\n100.0%\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 Lease Corporation (“NMNLC”).\n(3) Excludes the Company’s United States (“U.S.”) Small Business Administration (“SBA”)-guaranteed debentures. Includes premium received on additional convertible notes issued in ...