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New Mountain Finance Corporation Announces Financial Results for the Quarter Ended June 30, 2022, Reports Second Quarter Net Investment Income of $0.31 per Share, Declares Third Quarter 2022 Distribution of $0.30 per Share
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, 2022 and reported second quarter net investment income of $0.31 per weighted average share. At June 30, 2022, net asset value (“NAV”) per share was $13.42, compared to $13.56 at March 31, 2022, representing a 1% decline quarter over quarter. The Company also announced that its board of directors declared a third quarter distribution of $0.30 per share, which will be payable on September 30, 2022 to holders of record as of September 16, 2022. For additional details related to the quarter ended June 30, 2022, please refer to the New Mountain Finance Corporation Form 10-Q filed with the SEC and the supplemental investor presentation which can be found on the Company's website at http://www.newmountainfinance.com.\n\nSelected Financial Highlights\n\n\n(in thousands, except per share data)\nJune 30, 2022\n\n\nInvestment Portfolio(1)\n\n$\n\n\n\n3,319,592\n\n\n\n\nTotal Assets\n\n$\n\n\n\n3,404,781\n\n\n\n\nTotal Statutory Debt(2)\n\n$\n\n\n\n1,716,424\n\n\n\n\nNAV(3)\n\n$\n\n\n\n1,351,610\n\n\n\n\n\n\n \n\n\n\n\nNAV per Share\n\n$\n\n\n\n13.42\n\n\n\n\nNet Investment Income per Weighted Average Shares\n\n$\n\n\n\n0.31\n\n\n\n\nDistributions Paid per Share\n\n$\n\n\n\n0.30\n\n\n\n\nStatutory Debt/Equity\n\n1.27x\n\n\n\n\nStatutory Debt/Equity (net of available cash)\n\n1.25x\n\n\n\n\n\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\n\n\n\n\n(3) Excludes non-controlling interest in New Mountain Net Lease Corporation (“NMNLC”).\n\n\n\n\n\nManagement Comments on Second Quarter Performance\n\n“We believe New Mountain’s strategy of focusing on 'defensive growth' industries and on companies that we know well continues to prove to be a successful strategy”, added Steven B. Klinsky, NMFC Chairman. “We believe one of our keys to success is the strength of the team, which we continue to build over time, now at over 215 employees and senior advisors.”\n\nRobert A. Hamwee,...