NMFC prices $60M add-on convertible notes at 7.50%, total now $260M

New Mountain Finance Corp

Issued $60M aggregate principal amount of 7.50% convertible notes due 2025 at 100.5% of par.
Conversion price of $14.18 per share represents a 12.5% premium over March 8 close of $12.60.
Notes are fungible with existing $200M series; total outstanding now $260M.
Net proceeds will be used to repay outstanding debt and for general corporate purposes.
Closing expected March 14, 2023; Oppenheimer & Co. serving as placement agent.

Key facts

Extracted from this filing and checked against the source text.

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.95

New Mountain Finance Corp entered into Purchase Agreements with the several purchasers, each of whom is an "accredited investor" or a "qualified institutional buyer" valued at an additional $60 million in aggregate principal amount (effective 2023-03-08).

Action: entry
Agreement: notes offering
Counterparty: the several purchasers, each of whom is an "accredited investor" or a "qualified institutional buyer"
Value: an additional $60 million in aggregate principal amount
Effective: 2023-03-08

Exact text from the filing

On March 8, 2023, New Mountain Finance Corporation (the “Company”) entered into private placement purchase agreements (the “Purchase Agreements”) with the several purchasers

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New Mountain Finance Corp filing history →

Source: SEC EDGAR

accession 0001104659-23-030668

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