New Mountain Finance (NMFC) has released an update to notify the public and investors about an entry into a material definitive agreement.
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New Mountain Finance Corporation issued $300 million of 6.875% Notes due 2029, which will mature on February 1, 2029, and pay interest semi-annually. Proceeds will repay existing debts, including those under a credit facility with Wells Fargo and unsecured notes due April 2024. The Notes rank equally with current and future unsecured debt but are subordinated to secured debts and those of the Company’s subsidiaries. The offering was registered under the Securities Act of 1933 and included certain financial covenants as outlined in the Indenture.
For further insights into NMFC stock, check out TipRanks’ Stock Analysis page.
For a comprehensive understanding of the announcement, you can read the full document here.
