Company: NMFCZ
Filing Date: 2025-08-04
Form Type: 10-Q
Source: 0001496099-25-000027
Chunk: 248

Company: New Mountain Finance Corp
Filing Date: 2025-08-04
Form: 10-Q
Item: Part I, Item 1
Chunk 248
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 par plus a "make-whole" premium and accrued interest.The Unsecured Notes are unsecured obligations and rank senior in right of payment to the Company’s existing and future indebtedness, if any, that is expressly subordinated in right of payment to the Unsecured Notes; equal in right of payment to the Company’s existing and future unsecured indebtedness that is not so subordinated; effectively junior in right of 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 six months ended June 30, 2025 and June 30, 2024: Three Months EndedSix Months Ended June 30, 2025June 30, 2024June 30, 2025June 30, 2024Interest expense(1)$16,199 $11,874 $31,594 $21,488 Amortization of financing costs$811 $518 $1,613 $1,013 Amortization of discount$311 $155 $618 $257 Weighted average interest rate6.5 %6.7 %6.5 %6.3 %Effective interest rate7.0 %7.3 %6.8 %6.9 %Average debt outstanding$990,000 $690,000 $990,000 $661,305 (1)Interest expense includes net expense recognized on fair value hedges.As of June 30, 2025 and December 31, 2024, the outstanding balance on the Unsecured Notes was $989,987 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