Company: NMFCZ
Filing Date: 2025-02-26
Form Type: 10-K
Source: 0001496099-25-000010
Chunk: 171

Company: New Mountain Finance Corp
Filing Date: 2025-02-26
Form: 10-K
Item: Item 1A
Chunk 171
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 to maintain under the 1940 Act. If our asset coverage ratio is not at least 150.0%, we would be unable to issue additional senior securities, and certain provisions of certain of our senior securities may preclude us from making distributions to our stockholders. For example, our 2021A Unsecured Notes and 2022A Unsecured Notes contain a covenant that prohibits us from declaring or paying a distribution to our stockholders unless we satisfy the asset coverage ratio immediately after the distribution, and the 8.250% Unsecured Notes contain a covenant that would be triggered if we declare or pay a distribution to our stockholders resulting in an asset coverage ratio of less than 150.0% for more than six consecutive months. If the value of our assets declines, we may be unable to satisfy this test. If that happens, we may be required to liquidate a portion of our investments and repay a portion of our indebtedness at a time when such sales may be disadvantageous.The following table summarizes our indebtedness as of December 31, 2024:BorrowingMaturity DatePermitted BorrowingTotal Outstanding(in millions)(in millions)2021A Unsecured NotesJanuary 29, 2026N/A$200.0 2022A Unsecured NotesJune 15, 2027N/A75.0 8.250% Unsecured NotesNovember 15, 2028N/A115.0 6.875% Unsecured NotesFebruary 1, 2029N/A300.0 6.200% Unsecured NotesOctober 15, 2027N/A300.0 SBA-guaranteed debenturesBeginning March 1, 2025N/A300.0 Holdings Credit FacilityOctober 26, 2028$730.0 294.4 2022 Convertible NotesOctober 15, 2025N/A260.0 NMFC Credit Facility(1)Beginning June 4, 2026(2)638.5 27.9 Unsecured Management Company RevolverDecember 31, 2027100.0 — $1,872.3 (1)Under the NMFC Credit Facility, we may borrow in United States dollars or certain other permitted currencies. As of December 31, 2024, we had borrowings denominated in Euro ("EUR") of €16.5 million and in British Pound Sterling ("GBP") of £8.7 million that have