Welcome to our dedicated page for New Mountain Finance news (Ticker: NMFC), a resource for investors and traders seeking the latest updates and insights on New Mountain Finance stock.
New Mountain Finance Corporation reports news centered on its direct lending portfolio for U.S. upper middle market companies backed by private equity sponsors. The company seeks current income and capital appreciation through senior secured loans and select junior capital positions, with portfolio updates commonly organized across software, business services, healthcare, financial services and technology, and other industries.
Recurring announcements cover quarterly financial results, net investment income, net asset value, distributions, earnings calls, portfolio credit quality, capital actions, credit-facility activity and completed portfolio transactions. Updates also reference the company's relationship with the New Mountain Capital credit platform and its focus on lending to businesses in defensive industries.
BTG Pactual Strategic Capital (Strat Cap) has completed a strategic investment in UniTek Global Services, a super-regional broadband infrastructure services provider, in partnership with existing lead investor New Mountain Finance (NMFC).
UniTek specializes in broadband solutions, including engineering, design, and fiber installation services for aerial and underground infrastructure. The investment aims to accelerate UniTek's growth strategy in response to increasing bandwidth consumption, fiber expansion support, and growing data center connectivity needs.
The transaction is expected to benefit stakeholders by enhancing service delivery capabilities across the US and Canada. UniTek's management team, including CEO Charlie Smith, will continue their focus on providing infrastructure services while leveraging the new partnership to pursue organic and inorganic growth opportunities.
New Mountain Finance (NASDAQ: NMFC) has reported its Q4 2024 financial results, with net investment income of $34.5 million, or $0.32 per weighted average share. The company's net asset value stood at $12.55 per share, compared to $12.62 per share in Q3 2024.
Key highlights include maintaining strong credit performance with approximately 97% of the portfolio rated green, and reduced statutory debt/equity to 1.15x. NMFC declared a Q1 2025 distribution of $0.32 per share, payable March 31, 2025.
The company partially exited its UniTek Global Services investment, receiving $42 million repayment. As of December 31, 2024, NMFC's portfolio had a fair value of $3.1 billion across 121 portfolio companies, with a weighted average yield to maturity at cost of 11.0%. The company maintained strong liquidity with $80.3 million in cash and $1.15 billion available credit facility capacity.
New Mountain Finance (NASDAQ: NMFC) has announced the schedule for its fourth quarter and year-end 2024 financial results release and conference call. The company will release its financial results on Wednesday, February 26, 2025, after market close.
A conference call and webcast will be held on Thursday, February 27, 2025, at 10:00 am Eastern Time, where company officers will review performance and conduct a Q&A session. Participants can join via phone using US dial-in +1 (877) 443-9109 or international +1 (412) 317-1082.
A replay will be available one hour after the call through May 27, 2025, with the webcast replay accessible until February 27, 2026. Replay numbers: US +1 (877) 344-7529, International +1 (412) 317-0088, Access Code: 1746429.
New Mountain Finance (NMFC) reported financial results for Q3 2024, with adjusted net investment income of $36.7 million ($0.34 per share). The company's net asset value decreased to $12.62 per share from $12.74 in the previous quarter. Portfolio performance remained strong with 97.3% rated green on internal risk rating system. The company generated $146.2 million in gross originations, offset by $100.6 million in repayments. NMFC declared a regular Q4 2024 distribution of $0.32 per share and a supplemental distribution of $0.01 per share, payable December 31, 2024.
New Mountain Finance (NASDAQ: NMFC) announced the extension of its stock repurchase program through December 31, 2025. The program allows the company to repurchase up to $50 million worth of common stock at management's discretion. To date, approximately $2.9 million in repurchases have been made. The board authorized the extension due to potential market volatility that could cause stock undervaluation. Repurchases must comply with the company's Code of Ethics, Rule 10b-18 guidelines, and the Investment Company Act of 1940. The program will continue until either the end date or the full amount is repurchased.
New Mountain Finance (NASDAQ: NMFC) has announced the schedule for its Third Quarter 2024 Earnings Release and Conference Call. The company will release its financial results for the quarter ended September 30, 2024 on Wednesday, October 30, 2024 after markets close. An earnings conference call and webcast will be hosted on Thursday, October 31, 2024 at 10:00 am Eastern Time.
During the live conference call, New Mountain's officers will review the third quarter performance, discuss recent events, and conduct a question-and-answer session. Participants can join the call using the following dial-in numbers: United States: +1 (877) 443-9109, International: +1 (412) 317-1082. A replay of the conference call will be available one hour after the call ends and can be accessed until January 31, 2025.
New Mountain Finance (Nasdaq: NMFC) has priced a $300 million public offering of 6.200% unsecured notes due 2027. The notes will mature on October 15, 2027, and may be redeemed early at par plus a make-whole premium. Interest will be paid semi-annually at 6.200% per year, starting April 15, 2025. The offering is expected to close on September 26, 2024.
Several financial institutions are serving as joint book-running managers and co-managers for the offering. NMFC plans to use the net proceeds to repay existing indebtedness under its senior secured revolving credit facilities, including the Holdings Credit Facility, NMFC Credit Facility, and DB Credit Facility.
New Mountain Finance (NASDAQ: NMFC) reported its financial results for Q2 2024. Key highlights include:
- Net investment income of $38.2 million, or $0.36 per share
- Net asset value of $12.74 per share
- $437.3 million in gross originations and $299.1 million in repayments
- 97.0% of portfolio rated green on internal risk rating system
- Declared regular Q3 2024 distribution of $0.32 per share and supplemental distribution of $0.02 per share
The company maintained a strong credit performance and improved its asset mix. NMFC's investment portfolio had a fair value of $3.23 billion across 123 companies, with a weighted average yield to maturity at cost of 11.1%. The company's statutory debt to equity ratio was 1.21x as of June 30, 2024.
New Mountain Finance (NASDAQ: NMFC) announced that it will release its second quarter 2024 financial results on July 31, 2024, after market close. The company will host an earnings conference call and webcast on August 1, 2024, at 10:00 am Eastern Time. During this call, company officers will review the quarter's performance, discuss recent events, and answer questions. Dial-in numbers for the live call are provided for both U.S. and international participants. A replay of the conference call will be available starting one hour after the call ends, accessible through November 1, 2024, and the full webcast replay will be available until August 1, 2025.
New Mountain Finance (NMFC) reported net investment income of $0.36 per share for the quarter ended March 31, 2024. The company declared a regular second quarter distribution of $0.32 per share and a supplemental distribution of $0.02 per share. Despite a slight decline in net asset value from $12.87 to $12.77 per share, the company saw an improvement in its internal risk rating with 96.5% of the portfolio rated green. NMFC de-levered from 1.14x to 1.08x, showing financial stability. The company generated $191.8 million of originations and managed its cash repayments effectively. With a focus on defensive growth investments, NMFC continues to deliver stable earnings and strong credit performance, reflecting its strategic investments in high-quality companies.