Business
New Mountain Finance Corporation Announces Financial Results for the Quarter Ended September 30, 2019
Reports Net Investment Income of $0.36 per Weighted Average Share and Net Asset Value of $13.35 per Share Declares Fourth Quarter 2019 Distribution of $0.34
About this update from New Mountain Finance Corporation
[{"type":"text","content":"\nReports Net Investment Income of $0.36 per Weighted Average Share and Net Asset Value of $13.35 per Share\n\n\nDeclares Fourth Quarter 2019 Distribution of $0.34 per Share \n\n 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 September 30, 2019 and reported third quarter net investment income of $0.36 per weighted average share. At September 30, 2019, net asset value (“NAV”) per share was $13.35, compared to 13.41 at June 30, 2019. The Company also announced that its board of directors declared a fourth quarter distribution of $0.34 per share, which will be payable on December 27, 2019 to holders of record as of December 13, 2019.\n\n\n\n\nSelected Financial Highlights\n\n\n\n\n(in thousands, except per share data)\n\nSeptember 30, 2019\n\n\n\n\nInvestment Portfolio(1)\n\n\n$\n\n\n\n3,020,356\n\n\n\n\n\n\nTotal Assets\n\n\n$\n\n\n\n3,132,128\n\n\n\n\n\n\nTotal Statutory Debt(2)\n\n\n$\n\n\n\n1,643,562\n\n\n\n\n\n\nNAV\n\n\n$\n\n\n\n1,169,279\n\n\n\n\n\n\n\n\n\n\n\n \n\n\nNAV per Share\n\n\n$\n\n\n\n13.35\n\n\n\n\n\n\nStatutory Debt/Equity(3)\n\n\n\n1.20x\n\n\n\n\n\n\n\n\n\n\n\n \n\n\nInvestment Portfolio Composition\n\nSeptember 30, 2019\n\nPercent of Total\n\n\nFirst Lien\n\n\n$\n\n\n\n1,675,408\n\n\n\n\n55.5%\n\n\n\n\nSecond Lien(1)\n\n\n\n772,917\n\n\n\n\n25.6%\n\n\n\n\nSubordinated\n\n\n\n71,608\n\n\n\n\n2.3%\n\n\n\n\nPreferred Equity\n\n\n\n135,078\n\n\n\n\n4.5%\n\n\n\n\nInvestment Fund\n\n\n\n202,400\n\n\n\n\n6.7%\n\n\n\n\nCommon Equity and Other(4)\n\n\n\n162,945\n\n\n\n\n5.4%\n\n\n\n\nTotal\n\n\n$\n\n\n\n3,020,356\n\n\n\n\n100.0%\n\n\n\n\n\n\n\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(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(3) Statutory debt / equity ratio of 1.41x as of September 30, 2019; pro forma ratio of 1.20x reflects $125.1 million of net proceeds received from equity offering completed on October 25, 2019 and $95.6 million repayment of revolving credit facilities.\n(4) Includes investments held in New Mountain Net Lease Corporati...