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.
Summary not available.
Summary not available.
Summary not available.
Summary not available.
Summary not available.
Summary not available.
Summary not available.
New Mountain Finance Corporation (Nasdaq: NMFC) will release its financial results for the quarter ending March 31, 2023, on May 8, 2023, after market hours. A conference call is scheduled for May 9, 2023, at 10:00 AM ET, where company officials will discuss results and conduct a Q&A session. Investors can join the call by dialing +1 (877) 443-9109 for the US or +1 (412) 317-1082 internationally. The call will also be accessible via a live audio webcast. A replay will be available after the call and can be accessed until August 9, 2023. New Mountain Finance focuses on providing direct lending solutions to U.S. middle-market companies, primarily in senior secured loans, leveraging expertise from New Mountain Capital, which manages approximately $37 billion in assets.
New Mountain Finance Corporation (NASDAQ: NMFC) has announced the pricing of an additional $60 million in 7.50% convertible notes due 2025. These notes are being offered at 100.5% of their principal amount and will be fungible with existing notes worth $200 million issued in November 2022. The total amount of convertible notes will be $260 million. The conversion rate is set at 70.5365 shares per $1,000 face value, equating to a conversion price of approximately $14.18 per share, reflecting a 12.5% premium over the last stock price of $12.60. Proceeds will be used to repay debt and for corporate purposes. Oppenheimer & Co. Inc. is the placement agent.
New Mountain Finance Corporation (NASDAQ: NMFC) reported an adjusted net investment income of $0.35 per share for Q4 2022, a decrease compared to $0.31 from the previous year. The net asset value (NAV) per share fell to $13.02 from $13.20. The company declared a first-quarter distribution of $0.32 per share, payable on March 31, 2023. Total investment income for 2022 reached $293.4 million, up from $269.6 million in 2021, while total net expenses increased to $174.9 million. The board introduced a supplemental dividend program to enhance shareholder returns. Additionally, the company remains focused on maintaining portfolio credit quality amidst economic challenges.