Company: NMFCZ
Filing Date: 2025-11-03
Form Type: 10-Q
Source: 0001496099-25-000035
Chunk: 392

Company: New Mountain Finance Corp
Filing Date: 2025-11-03
Form: 10-Q
Item: Part I, Item 8
Chunk 392
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 certain customary affirmative and negative covenants and events of default. In addition, the Holdings Credit Facility requires the Company to maintain a minimum asset coverage ratio of 150.0%. The covenants are generally not tied to mark to market fluctuations in the prices of NMF Holdings investments, but rather to the performance of the underlying portfolio companies.As of the amendment on March 28, 2025, the Holdings Credit Facility bears interest at a rate of SOFR plus 1.95% per annum. From July 29, 2024 to March 27, 2025, the Holdings Credit Facility bore interest at a rate of SOFR plus 2.15% per annum. From October 26, 2023 to July 28, 2024, the Holdings Credit Facility bore interest at a rate of SOFR plus 2.50%. The Holdings Credit Facility also charges a non-usage fee, based on the unused facility amount multiplied by the Non-Usage Fee Rate (as defined in the Loan and Security Agreement).

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The following table summarizes the interest expense, non-usage fees and amortization of financing costs incurred on the Holdings Credit Facility for the three and nine months ended September 30, 2025 and September 30, 2024: Three Months EndedNine Months Ended September 30, 2025September 30, 2024September 30, 2025September 30, 2024Interest expense$4,726 $7,835 $13,741 $21,417 Non-usage fee$557 $409 $1,865 $1,417 Amortization of financing costs$677 $585 $1,921 $1,737 Weighted average interest rate6.3 %7.6 %6.4 %7.7 %Effective interest rate8.0 %8.7 %8.2 %9.0 %Average debt outstanding$293,932 $405,661 $285,184 $364,418 As of September 30, 2025 and December 31, 2024, the outstanding balance on the Holdings Credit Facility was $308,063 and $294,363, respectively, and NMF Holdings was in compliance with the applicable covenants of the Holdings Credit Facility on such dates.NMFC Credit Facility—The Second Amended and Restated Senior Secured Revolving Credit Agreement (