Company: NMFCZ
Filing Date: 2025-11-03
Form Type: 10-Q
Source: 0001496099-25-000035
Chunk: 254

Company: New Mountain Finance Corp
Filing Date: 2025-11-03
Form: 10-Q
Item: Part I, Item 1
Chunk 254
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 payment to any of the Company’s secured indebtedness (including existing unsecured indebtedness that the Company later secures) to the extent of the value of the assets securing such indebtedness; and structurally junior to all existing and future indebtedness (including trade payables) incurred by the Company’s subsidiaries and financing vehicles.The following table summarizes the interest expense and amortization of financing costs incurred on the Unsecured Notes 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(1)$16,385 $12,277 $47,979 $33,765 Amortization of financing costs$827 $526 $2,440 $1,539 Amortization of discount$314 $165 $932 $422 Weighted average interest rate6.5 %6.7 %6.5 %6.5 %Effective interest rate7.1 %7.3 %6.9 %7.0 %Average debt outstanding$990,000 $706,304 $990,000 $676,414 (1)Interest expense includes net expense recognized on fair value hedges.As of September 30, 2025 and December 31, 2024, the outstanding balance on the Unsecured Notes was $990,999 and $978,503, respectively, and the Company was in compliance with the terms of the NPA and Indenture as of such dates, as applicable.In connection with the issuance of the 6.875% Unsecured Notes, the Company entered into an interest rate swap on March 22, 2024 with Morgan Stanley Bank N.A., in which the Company receives a fixed interest rate of 6.875% and pays a floating interest rate of one-month SOFR plus 2.8183% on the notional amount of $300,000. In connection with the issuance of the 6.200% Unsecured Notes, the Company entered into an interest rate swap on September 23, 2024 with Morgan Stanley Bank, N.A., in which the Company receives a fixed interest rate of 6.200% and pays a floating rate of one-month SOFR plus 2.882% on the notional amount