Company: NMFCZ
Filing Date: 2025-11-03
Form Type: 10-Q
Source: 0001496099-25-000035
Chunk: 281

Company: New Mountain Finance Corp
Filing Date: 2025-11-03
Form: 10-Q
Item: Part I, Item 1
Chunk 281
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. Prior to the amendment on August 6, 2025, SLP III's revolving credit facility had a maximum borrowing capacity of $600.0 million, with the full amount attributable to one class of lenders. As of the amendment on August 6, 2025, during the reinvestment period, Class A advances bear interest at a rate of the Secured Overnight Financing Rate ("SOFR") plus 1.50%, and after the reinvestment period Class A advances will bear interest at a rate of SOFR plus 1.80%. During the reinvestment period, Class B advances bear interest at a rate of SOFR plus 4.75%, and after the reinvestment period Class B advances will bear interest at a rate of SOFR plus 5.05%. As of the amendment on July 3, 2024, during the reinvestment period, the credit facility bore interest at a rate of the SOFR plus 1.65%, and after the reinvestment period it bore interest at a rate of SOFR plus 1.95%. From June 23, 2023 to July 3, 2024, during the reinvestment period, the credit facility bore interest at a rate of SOFR plus 1.80%, and after the reinvestment period it bore interest at a rate of SOFR plus 2.10%. 

As of September 30, 2025 and December 31, 2024, SLP III had total investments with an aggregate fair value of approximately $758.0 million and $715.1 million, respectively, and debt outstanding under its credit facility of $524.7 million and $511.2 million, respectively. As of September 30, 2025 and December 31, 2024, none of SLP III's investments were on non-accrual. Additionally, as of September 30, 2025 and December 31, 2024, SLP III had unfunded commitments in the form of delayed draws of $4.7 million and $2.7 million, respectively. 

Below is a summary of SLP III's portfolio as of September 30, 2025 and December 31, 2024:    

(in thousands)September 30, 2025December 31, 2024First lien investments (1)$779,976 $727,619 Weighted average interest rate on first lien investments (2)7.99 %8.49 %