New Mountain Finance Corp 8.250% Notes Due 11/15/2028 (NMFCZ)
NGS · · CUSIP 647551308
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Security Details

Coupon Rate
8.25%
Liquidation Preference
$25.00
Call Price
$25.00
Call / Redemption Date
11/15/2025
Maturity Date
11/15/2028
Distribution Period
Q
Rate Type
Fixed
Annual Distribution
2.0625
Distribution Dates
2/15, 5/15, 8/15 & 11/15
Credit Ratings
Moody's Baa3 · S&P NR (11/7/2023)
Tax-Advantaged Dividends
No

Security Profile

Security Type
Exchange-Traded Debt Security »
CUSIP
647551308
IPO
11/6/2023 · $25/share
Parent Company
New Mountain Finance Corp (NMFC)
Business: New Mountain Finance Corp 8.250% Notes Due 2028 redeemable at the issuer's option on or after 11/15/2025 at $25 per note plus accrued and unpaid interest, and maturing 11/15/2028. <p> Interest distributions of 8.25% per annum ($2.0625 per annum or $(0.515625 per quarter) will be paid quarterly on 2/15, 5/15, 8/15 & 11/15 to holders of record on the record date that will be 2/1, 5/1, 8/1 & 11/1 (NOTE: the ex-dividend date is one business day prior to the record date). <p> Distributions paid by these debt securities are interest and as such are NOT eligible for the preferential 15% to 20% tax rate on dividends and are also NOT eligible for the dividend received deduction for corporate holders. <p> Units are expected to trade flat, which means accrued interest will be reflected in the trading price and the purchasers will not pay and the sellers will not receive any accrued and unpaid interest. <p>This security was rated as Baa3 by Moody’s and NOT rated by S&P at the date of its IPO. This security was rated as BBB- by Fitch Ratings Co. at the date of its IPO. The Notes are unsecured and unsubordinated obligations of the company and will rank equally with all existing and future unsecured and unsubordinated indebtedness of the company. See the IPO prospectus for further information on the debt securities by clicking on the ‘Link to IPO Prospectus’ provided below.
Notes: The 8.25% Notes were issued on 11/06/2023 and are expected to begin trading on the Nasdaq Global Select Market within 30 days of their issue date. The shares may start interim trading on the Other OTC market but we are not aware that they have done so to date.

Company Contact

CEO
John Kline
CFO
Laura Holson
Headquarters
1633 Broadway, 48th Floor, New York, NY 10019
Phone
212-720-0300
Investor Relations
Laura C. Holson · 212-220-3505 · NMFCIR@newmountaincapital.com
SEC EDGAR Filings
View filings »