New Mountain Finance Corporation Announces Financial Results for the Quarter and Year Ended December 31, 2023

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Insights

The reported net investment income (NII) of $0.40 per share indicates a robust earning capacity for New Mountain Finance Corporation (NMFC) during the fourth quarter. This figure surpasses the regular quarterly distribution of $0.32 per share, suggesting a sustainable dividend policy. The slight decline in net asset value (NAV) per share from $13.06 to $12.87, while notable, is mitigated by the special dividend paid, reflecting prudent capital management. The statutory debt-to-equity ratio of 1.14x, adjusted to 1.10x net of available cash, is within a reasonable range for business development companies (BDCs), offering a snapshot of leverage and underlying financial health.

Investors should note the year-over-year earnings growth, which may signal operational efficiency and effective investment strategies. The portfolio's weighted average yield to maturity (YTM) at cost of approximately 10.9% is indicative of the income-generating potential of the investments, although this figure should be considered with caution as it assumes no prepayments or losses and exits at par at maturity, which may not reflect actual future outcomes.

NMFC's focus on defensive growth sectors, as highlighted by management, positions the company to potentially weather economic downturns. The portfolio composition, with a majority in first lien loans (55.6%), demonstrates a conservative risk profile. The Risk Rating distribution, with the majority of investments rated Green, suggests overall portfolio health and effective risk management practices. However, the presence of investments in the Red and Orange categories, albeit a small percentage, should be monitored for potential default risks.

The recent repayment of 2019A Unsecured Notes and the issuance of 2029 Unsecured Notes with a 6.875% interest rate reflect active capital management. This refinancing strategy may impact future interest expenses and income, which are crucial for a BDC's performance. The supplemental distribution related to fourth-quarter earnings indicates a one-time earnings boost, potentially from successful investment exits or other income-generating activities.

From a regulatory standpoint, NMFC's compliance with the U.S. Securities and Exchange Commission (SEC) filings, as evidenced by the Form 10-K filing, provides transparency and adheres to the required disclosure norms for publicly traded companies. The repayment of the 2019A Unsecured Notes and the issuance of new notes should be executed in accordance with the terms of the indenture and relevant securities laws. The company's management of statutory debt and adherence to debt covenants is a critical aspect that ensures ongoing legal compliance and financial stability.

Investors should be aware of the potential implications of the SEC's focus on BDC practices, including fee structures, valuation methods and performance reporting, which could affect NMFC's operations and reporting requirements.

02/26/2024 - 04:35 PM

Reports Net Investment Income of $0.40 per Share

Declares a First Quarter Regular Distribution of $0.32 per Share and a Supplemental Distribution of $0.04 per Share

NEW YORK--(BUSINESS WIRE)-- New Mountain Finance Corporation (NASDAQ: NMFC) (鈥淣ew Mountain,鈥� 鈥淣MFC,鈥� 鈥淣ew Mountain Finance鈥� or the 鈥淐ompany鈥�) today announced its financial results for the quarter and year ended December 31, 2023. In line with preliminary estimates reported on January 18, 2024, the Company reported fourth quarter net investment income ("NII") of $0.40 per weighted average share and net asset value (鈥淣AV鈥�) per share of $12.87, compared to $13.06 on September 30, 2023, a decline of 0.7% excluding the impact of the $0.10 special dividend paid on December 29, 2023. The Company also announced that its Board of Directors declared a first quarter regular distribution of $0.32 per share and a supplemental distribution of $0.04, which will be payable on March 29, 2024 to holders of record as of March 15, 2024.

Selected Financial Highlights

*(in thousands, except per share data)*	December 31, 2023
Investment Portfolio¹	$	3,027,822
Total Assets	$	3,159,214
Total Statutory Debt²	$	1,507,836
NAV³	$	1,319,951
听	听
NAV per Share	$	12.87
Net Investment Income per Weighted Average Share	$	0.40
Regular Fourth Quarter Distribution Paid per Share	$	0.32
Supplemental Fourth Quarter Distribution Declared per Share	$	0.04
Statutory Debt/Equity	1.14x
Statutory Debt/Equity (net of available cash)	1.10x

Management Comments on Fourth Quarter Performance

鈥�Our fourth quarter results reflect another successful quarter for 2023,鈥� said Steven B. Klinsky, NMFC Chairman. 鈥淣ew Mountain continues to benefit from our disciplined, defensive growth strategy that is focused on end markets that perform well in all economic cycles.鈥�

John R. Kline, CEO, commented, 鈥淣ew Mountain closed out the fourth quarter with year-over-year earnings growth, outpacing its regular dividend for the fourth consecutive quarter. Additionally, NMFC distributed a $0.10 special dividend at the end of 2023 as a result of our team鈥檚 ability to monetize the Haven Midstream equity investment. Our focus on defensive growth sectors of the economy remains a competitive advantage, and we believe NMFC remains well positioned to execute while continuing to deliver strong and stable dividends to our shareholders.鈥�

Portfolio and Investment Activity¹

As of December 31, 2023, the Company鈥檚 NAV³ was $1,320.0 million and its portfolio had a fair value of $3,027.8 million in 111 portfolio companies, with a weighted average YTM at Cost⁴ of approximately 10.9%. For the three months ended December 31, 2023, the Company generated $142.5 million of originations⁵,and had $11.1 million of asset sales and cash repayments⁵ of $245.8 million.

Consolidated Results of Operations⁶

Quarterly Results

The Company鈥檚 total investment income for the three months ended December 31, 2023 and 2022 was $92.8 million and $73.9 million, respectively. The Company鈥檚 total net expenses, after income tax expense, for the three months ended December 31, 2023 and 2022 were $52.1 million and $48.9 million, respectively. The Company's NII for the three months ended December 31, 2023 and 2022 was $40.7 million and $25.0 million, respectively. The Company's NII per share for the three months ended December 31, 2023 and 2022 was $0.40 and $0.25⁸, respectively. For the three months ended December 31, 2023 and 2022, the Company recorded $13.5 million and $10.2 million, respectively, of net realized and unrealized losses.

Annual Results

The Company鈥檚 total investment income for the years ended December 31, 2023 and 2022 was $373.8 million and $293.4 million, respectively. The Company鈥檚 total net expenses, after income tax expense, for the years ended December 31, 2023 and 2022 were $214.9 million and $174.9 million, respectively. For the years ended December 31, 2023 and 2022, the Company recorded $23.6 million and $43.8 million, respectively, of net realized and unrealized losses.

Liquidity and Capital Resources

As of December 31, 2023, the Company had cash and cash equivalents of $70.1 million and total statutory debt outstanding of $1,507.8 million². The Company's statutory debt to equity was 1.14x as of December 31, 2023. Additionally, the Company had $300.0 million of SBA-guaranteed debentures outstanding as of December 31, 2023. For the year ended December 31, 2023, the Company sold 1,621,833 shares of common stock under its equity distribution agreement. For the same period, the Company received total accumulated net proceeds of approximately $21.2 million, net of offering expenses, from these sales.

Portfolio and Asset Quality¹

The Company monitors the performance and financial trends of its portfolio companies on at least a quarterly basis. The Company attempts to identify any developments within the portfolio company, the industry or the macroeconomic environment that may alter any material element of the Company鈥檚 original investment strategy. As described more fully in the Company's Annual Report on Form 10-K filed with the U.S. Securities and Exchange Commission, the portfolio monitoring procedures are designed to provide a simple, yet comprehensive analysis of the Company鈥檚 portfolio companies based on their operating performance and underlying business characteristics, which in turn forms the basis of its Risk Rating. The Risk Rating is expressed in categories of Red, Orange, Yellow and Green with Red reflecting an investment performing materially below expectations and Green reflecting an investment that is in-line with or above expectations.

The following table shows the Risk Rating of the Company鈥檚 portfolio companies as of December 31, 2023:

(in millions)	听	December 31, 2023
Risk Rating	听	听	Cost		听	Percent		听	Fair Value		听	Percent
Red	听	听	$	39.7	听	1.3	%	听	$	4.6	听	0.2	%
Orange	听	听	听	73.1	听	2.4	%	听	听	42.5	听	1.4	%
Yellow¹	听	听	听	157.6	听	5.1	%	听	听	118.5	听	3.9	%
Green⁷	听	听	听	2,797.8	听	91.2	%	听	听	2,862.2	听	94.5	%
Total	听	听	$	3,068.2	听	100.0	%	听	$	3,027.8	听	100.0	%

As of December 31, 2023, all investments in the Company鈥檚 portfolio had a Green Risk Rating with the exception of six portfolio companies that had a Yellow Risk Rating, four portfolio companies that had an Orange Risk Rating and three portfolio companies that had a Red Risk Rating.

The following table shows the Company鈥檚 investment portfolio composition as of December 31, 2023:

*(in thousands)*	听	听		听	听
Investment Portfolio Composition	听	December 31, 2023		听	Percent of Total
First Lien	听	$	1,683,952	听	55.6	%
Second Lien¹	听	听	441,013	听	14.6	%
Subordinated	听	听	90,948	听	3.0	%
Preferred Equity	听	听	208,459	听	6.9	%
Investment Fund	听	听	252,400	听	8.3	%
Common Equity and Other⁷	听	听	351,050	听	11.6	%
Total	听	$	3,027,822	听	100.0	%

Recent Developments

On January 25, 2024, the Company caused notices to be issued to holders of the Company's 2019A Unsecured Notes regarding the exercise of the Company's option to repay all of the Company's $116.5 million in aggregate principal amount of issued and outstanding 2019A Unsecured Notes, which was repaid on February 5, 2024.

On January 30, 2024, the Company鈥檚 Board of Directors declared a regular first quarter 2024 distribution of $0.32 per share and a supplemental distribution related to fourth quarter earnings of $0.04 per share, each payable on March 29, 2024 to holders of record as of March 15, 2024.

On February 1, 2024, the Company issued $300.0 million in aggregate principal amount of its 6.875% notes due 2029 (the "2029 Unsecured Notes") for net proceeds of $293.9 million after deducting underwriting commissions of $3.0 million. Offering costs incurred were approximately $0.9 million. Interest on the 2029 Unsecured Notes will be paid semi-annually in arrears on February 1 and August 1 at a rate of 6.875% per year, beginning on August 1, 2024, to holders of record as of the close of business on January 15 or July 15 (whether or not a business day), as the case may be, immediately preceding the relevant interest payment date. The 2029 Unsecured Notes may be redeemed in whole or in part at the Company鈥檚 option at any time prior to January 1, 2029, at par plus a 鈥渕ake-whole鈥� premium, and thereafter at par, plus accrued interest.

___________________________________________
(1)	Includes collateral for securities purchased under collateralized agreements to resell.
(2)	Excludes the Company鈥檚 United States Small Business Administration (鈥淪BA鈥�) guaranteed debentures.
(3)	Excludes non-controlling interest in New Mountain Net Lease Corporation (鈥淣MNLC鈥�).
(4)	References to 鈥淵TM at Cost鈥� assume the accruing investments, including secured collateralized agreements, in the Company's portfolio as of a certain date, the 鈥樷€楶ortfolio Date鈥欌€�, are purchased at cost on that date and held until their respective maturities with no prepayments or losses and are exited at par at maturity. This calculation excludes the impact of existing leverage. YTM at Cost uses the London Interbank Offered Rate (鈥淟IBOR鈥�), Sterling Overnight Interbank Average Rate ("SONIA鈥�), Euro Interbank Offered Rate ("EURIBOR") and Secured Overnight Financing Rate (鈥淪OFR鈥�) curves at each quarter鈥檚 respective end date. The actual yield to maturity may be higher or lower due to the future selection of SONIA, EURIBOR and SOFR contracts by the individual companies in the Company鈥檚 portfolio or other factors.
听
(5)	Originations exclude payment-in-kind (鈥淧IK鈥�); originations, repayments, and sales excludes revolvers, unfunded commitments, bridges, return of capital, and realized gains / losses.
(6)	Excludes net income related to non-controlling interests in NMNLC. For the quarter ended December 31, 2023 and 2022, $0.2 million and $0.2 million, respectively, of dividend income is excluded from investment income, $0.0 million and $0.0 million, respectively, of net direct and indirect professional, administrative, other general and administrative is excluded from net expenses, and $0.0 million and $(0.2) million, respectively, of realized and unrealized gains and (losses), is excluded from net realized and unrealized gains and losses. For the years ended December 31, 2023 and 2022, $1.0 million and $1.2 million, respectively, of dividend income is excluded from investment income, $0.0 million and $0.1 million, respectively, of net direct and indirect professional, administrative, other general and administrative is excluded from net expenses, and $0.2 million and $1.3 million, respectively, of realized and unrealized losses, is excluded from net realized and unrealized gains and losses.
(7)	Includes investment held in NMNLC.
(8)	Adjusted net investment income per share for the three months ended December 31, 2022 was $0.35. Adjusted net investment income for the three months ended December 31, 2022 included $10.4 million of non-recurring interest, other income, other general and administrative expense and incentive fee adjustment related to National HME, Inc. and NHME Holdings Corp. and $0.1 million of accelerated deferred financing costs related to the tender offer on the 2018 Convertible Notes.

Fourth Quarter 2023 Conference Call

New Mountain Finance Corporation will host an earnings conference call and webcast at 10:00 am Eastern Time on Tuesday, February 27, 2024. To participate in the live earning conference call, please use the following dial-in numbers or visit the audio webcast link. To avoid any delays, please join at least fifteen minutes prior to the start of the call.

United States: +1 (877) 443-9109
International: +1 (412) 317-1082

A replay of the conference call can be accessed one hour after the end of the conference call through May 27, 2024. The full webcast replay will be available through February 27, 2025. To access the earnings webcast replay please visit the New Mountain Investor Relations website.

United States: +1 (877) 344-7529
International: +1 (412) 317-0088
Access Code: 4449111

For additional details related to the quarter and year ended December 31, 2023, please refer to the New Mountain Finance Corporation Form 10-K filed with the SEC and the supplemental investor presentation which can be found on the Company's website at .

					听
New Mountain Finance Corporation Consolidated Statements of Assets and Liabilities (in thousands, except shares and per share data)
					听
听	December 31, 2023			听	December 31, 2022
Assets	听			听	听
Investments at fair value	听			听	听
Non-controlled/non-affiliated investments (cost of $2,283,490 and $2,523,522, respectively)	$	2,209,867	听	听	$	2,400,425	听
Non-controlled/affiliated investments (cost of $107,895 and $85,971, respectively)	听	133,659	听	听	听	130,787	听
Controlled investments (cost of $646,823 and $650,474, respectively)	听	667,796	听	听	听	690,035	听
Total investments at fair value (cost of $3,038,208 and $3,259,967, respectively)	听	3,011,322	听	听	听	3,221,247	听
Securities purchased under collateralized agreements to resell (cost of $30,000 and $30,000, respectively)	听	16,500	听	听	听	16,539	听
Cash and cash equivalents	听	70,090	听	听	听	71,190	听
Interest and dividend receivable	听	44,107	听	听	听	36,154	听
Deferred tax asset	听	594	听	听	听	鈥�	听
Receivable from affiliates	听	82	听	听	听	鈥�	听
Other assets	听	16,519	听	听	听	9,797	听
Total assets	$	3,159,214	听	听	$	3,354,927	听
Liabilities	听			听	听
Borrowings	听			听	听
Holdings Credit Facility	$	515,063	听	听	$	618,963	听
Unsecured Notes	听	506,500	听	听	听	531,500	听
SBA-guaranteed debentures	听	300,000	听	听	听	300,000	听
Convertible Notes	听	260,207	听	听	听	316,853	听
DB Credit Facility	听	186,400	听	听	听	186,400	听
NMFC Credit Facility	听	36,813	听	听	听	40,359	听
NMNLC Credit Facility II	听	2,853	听	听	听	3,785	听
Deferred financing costs (net of accumulated amortization of $54,263 and $47,531, respectively)	听	(22,387	)	听	听	(17,199	)
Net borrowings	听	1,785,449	听	听	听	1,980,661	听
Management fee payable	听	10,116	听	听	听	10,524	听
Incentive fee payable	听	8,555	听	听	听	6,296	听
Interest payable	听	20,440	听	听	听	19,627	听
Payable to affiliates	听	鈥�	听	听	听	78	听
Deferred tax liability	听	鈥�	听	听	听	8,487	听
Other liabilities	听	2,931	听	听	听	3,063	听
Total liabilities	听	1,827,491	听	听	听	2,028,736	听
Commitments and contingencies	听			听	听
Net assets	听			听	听
Preferred stock, par value $0.01 per share, 2,000,000 shares authorized, none issued	听	鈥�	听	听	听	鈥�	听
Common stock, par value $0.01 per share, 200,000,000 shares authorized, and 102,558,859 and 100,937,026 shares issued and outstanding, respectively	听	1,026	听	听	听	1,009	听
Paid in capital in excess of par	听	1,331,269	听	听	听	1,305,945	听
Accumulated undistributed earnings	听	(12,344	)	听	听	7,519	听
Total net assets of New Mountain Finance Corporation	$	1,319,951	听	听	$	1,314,473	听
Non-controlling interest in New Mountain Net Lease Corporation	听	11,772	听	听	听	11,718	听
Total net assets	$	1,331,723	听	听	$	1,326,191	听
Total liabilities and net assets	$	3,159,214	听	听	$	3,354,927	听
Number of shares outstanding	听	102,558,859	听	听	听	100,937,026	听
Net asset value per share of New Mountain Finance Corporation	$	12.87	听	听	$	13.02	听

	听
New Mountain Finance Corporation Consolidated Statements of Operations (in thousands, except shares and per share data)
	听
听	Year ended December 31,
听	听	2023	听	听	听	2022	听	听	听	2021	听
Investment income	听			听	听			听	听
From non-controlled/non-affiliated investments:	听			听	听			听	听
Interest income (excluding Payment-in-kind ("PIK") interest income)	$	249,851	听	听	$	184,367	听	听	$	159,189	听
PIK interest income	听	15,968	听	听	听	11,767	听	听	听	8,582	听
Dividend income	听	193	听	听	听	193	听	听	听	915	听
Non-cash dividend income	听	17,481	听	听	听	14,071	听	听	听	10,153	听
Other income	听	4,981	听	听	听	9,156	听	听	听	14,106	听
From non-controlled/affiliated investments:	听			听	听			听	听
Interest income (excluding PIK interest income)	听	1,951	听	听	听	1,062	听	听	听	1,579	听
PIK interest income	听	2,183	听	听	听	1,043	听	听	听	434	听
Dividend income	听	鈥�	听	听	听	鈥�	听	听	听	288	听
Non-cash dividend income	听	4,625	听	听	听	4,109	听	听	听	4,835	听
Other income	听	251	听	听	听	250	听	听	听	345	听
From controlled investments:	听			听	听			听	听
Interest income (excluding PIK interest income)	听	5,386	听	听	听	9,438	听	听	听	5,470	听
PIK interest income	听	15,443	听	听	听	4,516	听	听	听	14,327	听
Dividend income	听	45,905	听	听	听	43,149	听	听	听	41,659	听
Non-cash dividend income	听	5,303	听	听	听	4,363	听	听	听	4,497	听
Other income	听	5,315	听	听	听	7,146	听	听	听	4,580	听
Total investment income	听	374,836	听	听	听	294,630	听	听	听	270,959	听
Expenses	听			听	听			听	听
Interest and other financing expenses	听	124,784	听	听	听	92,421	听	听	听	73,098	听
Management fee	听	45,610	听	听	听	46,617	听	听	听	52,960	听
Incentive fee	听	38,303	听	听	听	29,901	听	听	听	29,710	听
Administrative expenses	听	4,101	听	听	听	4,131	听	听	听	4,461	听
Professional fees	听	3,771	听	听	听	3,433	听	听	听	3,197	听
Other general and administrative expenses	听	2,068	听	听	听	2,338	听	听	听	1,923	听
Total expenses	听	218,637	听	听	听	178,841	听	听	听	165,349	听
Less: management fee waived	听	(4,117	)	听	听	(4,402	)	听	听	(13,104	)
Less: expenses waived and reimbursed	听	鈥�	听	听	听	(238	)	听	听	(244	)
Net expenses	听	214,520	听	听	听	174,201	听	听	听	152,001	听
Net investment income before income taxes	听	160,316	听	听	听	120,429	听	听	听	118,958	听
Income tax expense	听	418	听	听	听	825	听	听	听	118	听
Net investment income	听	159,898	听	听	听	119,604	听	听	听	118,840	听
Net realized (losses) gains:	听			听	听			听	听
Non-controlled/non-affiliated investments	听	(49,267	)	听	听	(737	)	听	听	(3,167	)
Non-controlled/affiliated investments	听	鈥�	听	听	听	鈥�	听	听	听	8,338	听
Controlled investments	听	16,413	听	听	听	53,440	听	听	听	(9,035	)
Foreign currency	听	13	听	听	听	827	听	听	听	15	听
Net change in unrealized appreciation (depreciation):	听			听	听			听	听
Non-controlled/non-affiliated investments	听	47,956	听	听	听	(81,197	)	听	听	(23,466	)
Non-controlled/affiliated investments	听	(19,052	)	听	听	(9,156	)	听	听	66,505	听
Controlled investments	听	(18,588	)	听	听	6,219	听	听	听	49,347	听
Securities purchased under collateralized agreements to resell	听	(39	)	听	听	(4,883	)	听	听	鈥�	听
Foreign currency	听	100	听	听	听	(1,115	)	听	听	(81	)
Provision for taxes	听	(1,344	)	听	听	(8,474	)	听	听	(114	)
Net realized and unrealized (losses) gains	听	(23,808	)	听	听	(45,076	)	听	听	88,342	听
Net increase in net assets resulting from operations	听	136,090	听	听	听	74,528	听	听	听	207,182	听
Less: Net (increase) decrease in net assets resulting from operations related to non-controlling interest in New Mountain Net Lease Corporation	听	(747	)	听	听	204	听	听	听	(5,783	)
Net increase in net assets resulting from operations related to New Mountain Finance Corporation	$	135,343	听	听	$	74,732	听	听	$	201,399	听
Basic earnings per share	$	1.34	听	听	$	0.75	听	听	$	2.08	听
Weighted average shares of common stock outstanding - basic	听	101,118,302	听	听	听	100,202,847	听	听	听	96,952,959	听
Diluted earnings per share	$	1.24	听	听	$	0.74	听	听	$	1.91	听
Weighted average shares of common stock outstanding - diluted	听	123,488,882	听	听	听	115,426,198	听	听	听	110,210,545	听
Distributions declared and paid per share	$	1.49	听	听	$	1.22	听	听	$	1.20	听

ABOUT NEW MOUNTAIN FINANCE CORPORATION

New Mountain Finance Corporation (NASDAQ: NMFC) is a leading business development company (BDC) focused on providing direct lending solutions to U.S. middle market companies backed by top private equity sponsors. Our portfolio consists primarily of senior secured loans, and select junior capital positions, to growing businesses in defensive industries that offer attractive risk-adjusted returns. Our differentiated investment approach leverages the deep sector knowledge and operating resources of New Mountain Capital, a global investment firm with approximately $50 billion of assets under management as of December 31, 2023.

ABOUT NEW MOUNTAIN CAPITAL

New Mountain Capital is a New York-based investment firm that emphasizes business building and growth, rather than debt, as it pursues long-term capital appreciation. The firm currently manages private equity, credit and net lease investment strategies with approximately $50 billion in assets under management. New Mountain seeks out what it believes to be the highest quality growth leaders in carefully selected industry sectors and then works intensively with management to build the value of these companies. For more information on New Mountain Capital, please visit .

FORWARD-LOOKING STATEMENTS

Statements included herein may contain 鈥渇orward-looking statements鈥�, which relate to our future operations, future performance or our financial condition. Forward-looking statements are not guarantees of future performance, condition or results and involve a number of risks and uncertainties, including changes in base interest rates and significant volatility on our business, portfolio companies, our industry and the global economy. Actual results and outcomes may differ materially from those anticipated in the forward-looking statements as a result of a variety of factors, including those described from time to time in our filings with the Securities and Exchange Commission or factors that are beyond our control. New Mountain Finance Corporation undertakes no obligation to publicly update or revise any forward-looking statements made herein, except as may be required by law. All forward-looking statements speak only as of the time of this press release.

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New Mountain Finance Corporation

Investor Relations

Laura C. Holson, Authorized Representative

NMFCIR@newmountaincapital.com

(212) 220-3505

Source: New Mountain Finance Corporation

FAQ

What was NMFC's net investment income per share for the fourth quarter of 2023?

NMFC reported a net investment income of $0.40 per weighted average share for the fourth quarter of 2023.

What is the net asset value per share for NMFC as of December 31, 2023?

The net asset value per share for NMFC was $12.87 as of December 31, 2023, showing a decline from the previous quarter.

How many portfolio companies does NMFC have?

NMFC's portfolio consists of 111 companies with a fair value of $3,027.8 million.

What distributions did NMFC declare for the first quarter of 2024?

NMFC declared a first quarter regular distribution of $0.32 per share and a supplemental distribution of $0.04 per share.

What was the total investment income for NMFC for the year ended December 31, 2023?

NMFC's total investment income for the year ended December 31, 2023, was $373.8 million, showing growth from the previous year.

What risk rating did all investments in NMFC's portfolio have as of December 31, 2023?

As of December 31, 2023, all investments in NMFC's portfolio had a Green Risk Rating, except for a few exceptions.

What did NMFC declare on January 30, 2024, regarding distributions?

On January 30, 2024, NMFC declared a regular first quarter 2024 distribution of $0.32 per share and a supplemental distribution of $0.04 per share.

When did NMFC issue $300.0 million in aggregate principal amount of its 6.875% notes due 2029?

NMFC issued $300.0 million in aggregate principal amount of its 6.875% notes due 2029 on February 1, 2024.

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