Company: NMFCZ
Filing Date: 2025-08-04
Form Type: 10-Q
Source: 0001496099-25-000027
Chunk: 396

Company: New Mountain Finance Corp
Filing Date: 2025-08-04
Form: 10-Q
Item: Part I, Item 8
Chunk 396
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 of SBA-guaranteed debentures is fixed on a semi-annual basis at a market-driven spread over U.S. Treasury Notes with ten year maturities. The SBA, as a creditor, will have a superior claim to the assets of SBIC I, SBIC II and SBIC III over the Company's stockholders in the event SBIC I, SBIC II and SBIC III are liquidated or the SBA exercises its remedies upon an event of default.On February 28, 2025, SBIC I repaid $37,500 of SBA-guaranteed debentures that were set to mature on March 1, 2025. As of June 30, 2025 and December 31, 2024, SBIC I had regulatory capital of $75,000 and $75,000, respectively, and SBA-guaranteed debentures outstanding of $112,500 and $150,000, respectively. 

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As of June 30, 2025 and December 31, 2024, SBIC II had regulatory capital of $75,000 and $75,000, respectively, and SBA-guaranteed debentures outstanding of $150,000 and $150,000, respectively. The SBA-guaranteed debentures incur upfront fees of 3.435%, which consists of a 1.00% commitment fee and a 2.435% issuance discount, which are amortized over the life of the SBA-guaranteed debentures. As of June 30, 2025, SBIC III had not yet received a license to operate as an SBIC. Following its receipt of a license to operate as an SBIC on July 15, 2025 and upon receipt of a capital commitment from the SBA, SBIC III will be able to issue SBA guaranteed debentures.The following table summarizes the Company’s SBA-guaranteed debentures as of June 30, 2025:Issuance DateMaturity DateDebenture AmountInterest RateSBA Annual ChargeFixed SBA-guaranteed debentures(1):    September 23, 2015September 1, 2025$37,500 2.829 %0.355 %September 23, 2015September 1, 202528,795 2.829 %0.742 %