8-K
filed November 2, 2022, 7:59 PM ET
ticker NMFC
CIK 0001496099
debt
confidence high
sentiment neutral
materiality 0.60
New Mountain Finance Corp (NMFC): debt financing — NMFC completes $200M offering of 7.50% convertible notes due 2025
New Mountain Finance Corp
- $200M aggregate principal of 7.50% convertible notes due October 15, 2025; initial conversion price ~$14.20 per share.
- Conversion price represents a 14.7% premium over the $12.38 closing price on Oct 27, 2022.
- Net proceeds to launch tender offer for existing 5.75% convertible notes due 2023 and repay other debt.
- Notes rank pari passu with existing unsecured unsubordinated debt; interest payable semi-annually starting April 2023.
- Oppenheimer & Co. acted as placement agent; notes sold in private placement.
Key facts
Extracted from this filing and checked against the source text.
Debt Financings
SEC 8-K Item 2.03/2.04
confidence 0.9
New Mountain Finance Corp incurred convertible notes of $200 million at 7.50% maturing October 15, 2025.
- Instrument
- convertible notes
- Principal
- $200 million
- Rate
- 7.50%
- Maturity
- October 15, 2025
- Event
- incurrence
Exact text from the filing
On November 2, 2022, New Mountain Finance Corporation (the “Company”) completed its previously announced offering of $200 million aggregate principal amount of its 7.50% convertible notes due 2025 (the “Notes”).
View on SEC.gov
Material Agreements
SEC 8-K Item 1.01/1.02
confidence 0.9
New Mountain Finance Corp amended Supplemental Indenture with U.S. Bank Trust Company, National Association (effective 2022-11-02).
- Action
- amendment
- Agreement
- notes offering
- Counterparty
- U.S. Bank Trust Company, National Association
- Effective
- 2022-11-02
Exact text from the filing
as supplemented by a third supplemental indenture dated as of November 2, 2022 (the “Supplemental Indenture” and together with the Base Indenture, the “Indenture”), between the Company and U.S. Bank Trust Company, National Association
View on SEC.gov
Material Agreements
SEC 8-K Item 1.01/1.02
confidence 0.9
New Mountain Finance Corp entered into Purchase Agreement with the several purchasers valued at $200 million (effective 2022-11-02).
- Action
- entry
- Agreement
- notes offering
- Counterparty
- the several purchasers
- Value
- $200 million
- Effective
- 2022-11-02
Exact text from the filing
On November 2, 2022, New Mountain Finance Corporation (the “Company”) completed its previously announced offering of $200 million aggregate principal amount of its 7.50% convertible notes due 2025 (the “Notes”). The offering was consummated pursuant to the terms of a private placement purchase agreement (the “Purchase Agreement”) with the several purchasers
View on SEC.gov
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