New Mountain Finance Corporation (the “Company,” “we,” “us” or “our”) (Nasdaq: NMFC) today announced that it has priced an underwritten public offering of $115.0 million in aggregate principal amount of 8.250% unsecured notes due 2028 (the “Notes”).
The Notes will mature on November 15, 2028, and may be redeemed in whole or in part at any time or from time to time at the Company’s option on or after November 15, 2025. The Notes will bear interest at a rate of 8.250% per year payable quarterly on February 15, May 15, August 15 and November 15 of each year, beginning February 15, 2024.
The offering is expected to close on November 13, 2023, subject to customary closing conditions. The Notes are expected to be listed on the Nasdaq Global Select Market (“Nasdaq”) and to trade thereon within 30 days of the original issue date under the trading symbol “NMFCZ”.
Wells Fargo Securities, LLC, BofA Securities, Inc., Morgan Stanley & Co. LLC, and UBS Securities LLC are serving as joint book-running managers for this offering. Oppenheimer & Co. Inc. is serving as joint lead manager for the offering. The Company intends to use the net proceeds from this offering to pay down outstanding indebtedness under its senior secured revolving credit facility with Goldman Sachs Bank USA, Morgan Stanley Bank, N.A., Stifel Bank & Trust and MUFG Union Bank, N.A.
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Investors are advised to consider carefully the investment objective, risks and charges and expenses of the Company before investing. The preliminary prospectus supplement dated November 6, 2023, and the accompanying prospectus dated May 18, 2023, each of which has been filed with the Securities and Exchange Commission (the “SEC”), contain a description of these matters and other important information about the Company and should be read carefully before investing.
This press release does not constitute an offer to sell or the solicitation of an offer to buy, nor will there be any sale of, the Notes referred to in this press release in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of such state or jurisdiction. A registration statement (File No. 333-272060) relating to the Notes was filed and has been declared effective by the SEC.
This offering is being made solely by means of a written prospectus forming part of the effective registration statement and a related preliminary prospectus supplement, which may be obtained for free by visiting the SEC’s website at www.sec.gov or from of any of the following investment banks: from Wells Fargo Securities, LLC, 608 2nd Avenue South, Suite 1000, Minneapolis, MN 55402, Attn: WFS Customer Service, or by calling Wells Fargo Securities, LLC, toll-free at 1-800-645-3751, or by emailing: wfscustomerservice@wellsfargo.com; from BofA Securities, Inc., NC1-022-02-25, 201 North Tryon Street, Charlotte, NC 28255-0001, Attn: Prospectus Department, or by calling BofA Securities, Inc., toll-free at 1-800-294-1322, or by e-mailing BofA Securities, Inc. at dg.prospectus_requests@bofa.com; from Morgan Stanley & Co. LLC, 1585 Broadway, New York, New York 10036, or by calling Morgan Stanley & Co. LLC, toll-free at 1-866-718-1649; and from UBS Securities LLC, 1285 Avenue of the Americas, New York, New York 10019, or by calling UBS Securities LLC, toll-free at 1-888-827-7275.
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