Company: NMFCZ
Filing Date: 2025-05-05
Form Type: 10-Q
Source: 0001496099-25-000018
Chunk: 354

Company: New Mountain Finance Corp
Filing Date: 2025-05-05
Form: 10-Q
Item: Part I, Item 8
Chunk 354
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 we and SkyKnight II have committed and contributed $160.0 million and $40.0 million, respectively, of equity to SLP III. Our investment in SLP III is disclosed on our Consolidated Schedule of Investments as of March 31, 2025 and December 31, 2024. 

On May 2, 2018, SLP III entered into its revolving credit facility with Citibank, N.A. As of the amendment on July 3, 2024, the maturity date of SLP III's revolving credit facility was extended from January 8, 2026 to January 8, 2029, and the reinvestment period was extended from July 8, 2026 to July 8, 2027. As of the amendment on July 3, 2024, during the reinvestment period, the credit facility bears interest at a rate of the Secured Overnight Financing Rate ("SOFR") plus 1.65%, and after the reinvestment period it will bear 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 March 31, 2025, SLP III's revolving credit facility had a maximum borrowing capacity of $600.0 million. As of March 31, 2025 and December 31, 2024, SLP III had total investments with an aggregate fair value of approximately $688.2 million and $715.1 million, respectively, and debt outstanding under its credit facility of $477.7 million and $511.2 million, respectively. As of March 31, 2025 and December 31, 2024, none of SLP III's investments were on non-accrual. Additionally, as of March 31, 2025 and December 31, 2024, SLP III had unfunded commitments in the form of delayed draws of $4.9 million and $2.7 million, respectively. 

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

(in thousands)March 31, 2025December 31, 2024First lien