New Mountain Finance Corporation (NYSE:NMFC) Files An 8-K Entry into a Material Definitive Agreement

ME Staff 8-k
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New Mountain Finance Corporation (NYSE:NMFC) Files An 8-K Entry into a Material Definitive Agreement
Item 1.01. Entry into a Material Definitive Agreement.

On March30, 2018, New Mountain Finance Corporation (the “Company”) entered into the First Amendment to Loan and Security Agreement (the “First Amendment”), which amended the Third Amended and Restated Loan and Security Agreement (together with the exhibits and schedules thereto, the “Holdings Credit Facility”), by and among the Company, as the collateral manager, New Mountain Finance Holdings, L.L.C., as the borrower (the “Borrower”), Wells Fargo Bank, National Association (“Wells Fargo Bank”), as the administrative agent (the “Administrative Agent”), the lenders party thereto, and Wells Fargo Bank, as collateral custodian.

The First Amendment modifies the applicable spread used to determine the per annum interest rate payable under the Holdings Credit Facility by reducing such applicable spread for the pro rata portion of the facility secured by assets that are not First Lien Loans that are also Broadly Syndicated Loans (as each such term is defined under the Holdings Credit Facility) from 2.50% to 2.25%. The applicable spread for the pro rata portion of the facility secured by First Lien Loans that are also Broadly Syndicated Loans remains 1.75%. The First Amendment also modifies the applicable spread that would be effective during an Event of Default or a Curable BDC Asset Coverage Event (as each such term is defined under the Holdings Credit Facility) by reducing such applicable spread from 3.50% to 3.25%. No other terms of the Holdings Credit Facility were modified to the First Amendment.

The Holdings Credit Facility continues to have a revolving period ending on October24,2020, and will still mature on October24, 2022.

The lender group under the Holdings Credit Facility, which also includes Raymond James Bank, N.A., State Street Bank and Trust Company, NBH Bank, and State Bank and Trust Company, have made commitments or advances aggregating $495,000,000.

The description above is qualified in its entirety by reference to the copy of the First Amendment to the Loan and Security Agreement, which is filed as Exhibit10.1 to this current report on Form8-K and is incorporated herein by reference thereto.


New Mountain Finance Corp Exhibit
EX-10.1 2 a18-9653_1ex10d1.htm EX-10.1 Exhibit 10.1   EXECUTION VERSION   FIRST AMENDMENT TO LOAN AND SECURITY AGREEMENT,…
To view the full exhibit click here

About New Mountain Finance Corporation (NYSE:NMFC)

New Mountain Finance Corporation is a closed-end, non-diversified management investment company. The Company’s investment objective is to generate current income and capital appreciation through the sourcing and origination of debt securities at all levels of the capital structure, including first and second lien debt, notes, bonds and mezzanine securities. Its investments may also include equity interests, such as preferred stock, common stock, warrants or options received in connection with its debt investments, or may include a direct investment in the equity of private companies. It makes investments through both primary originations and open-market secondary purchases. Its portfolio includes investments in various sectors, such as software, business services, education, distribution and logistics, federal services, consumer services, healthcare services, media and healthcare products. New Mountain Finance Advisers BDC, L.L.C. is the investment advisor of the Company.