New Mountain Finance Corporation (NYSE: NMFC) (the "Company", "we", "us" or "our") today announced its financial results for the quarter ended June 30, 2012 and reported second quarter Adjusted Net Investment Income of New Mountain Finance Holdings, L.L.C. (the “Operating Company”) of $0.35 per share. At June 30, 2012, net asset value (“NAV”) per share was $13.83. The Company also announced that its board of directors declared a third quarter 2012 dividend of $0.34 per share, which will be payable on September 28, 2012 to holders of record as of September 14, 2012.
Additionally, during the third quarter, the Operating Company amended its two credit facilities to increase the maximum capacity of the Holdings Credit Facility from $160.0 million to $185.0 million and of the SLF Credit Facility from $175.0 million to $200.0 million.
Except where noted otherwise, all financial information shown is that of the Operating Company. Also, please note that share and unit are used interchangeably.
|Selected Financial Highlights|
|(in thousands, except per share/unit data)|
|June 30, 2012|
|NAV per Share/Unit||$||13.83|
|Investment Portfolio Composition:||June 30, 2012||Percent of Total|
|Equity and Other||$||2,812||0.4||%|
|Three months ended||Three months ended|
|June 30, 2012||Adjustments *||June 30, 2012|
|Net Investment Income (1)||$||11,699||$||(825||)||$||10,874|
|Net Realized and Unrealized Gain (Loss)||$||(561||)||$||825||$||264|
|Net Capital Gains Incentive Fee (2)||$||(53||)||$||-||$||(53||)|
|Net Increase in Capital resulting from Operations||$||11,085||$||11,085|
|Net Investment Income per Share/Unit||$||0.35|
|*Adjusted for unrecognized gains built into the portfolio held as of the date of our initial public offering (May 19, 2011).|
|(1) Excludes hypothetical capital gains incentive fees of $53 thousand accrued for the three months ended June 30, 2012.|
|(2) As of June 30, 2012, no actual capital gains incentive fee would be owed under the investment advisory and management agreement, as amended and restated, as cumulative adjusted net realized gains did not exceed cumulative adjusted unrealized depreciation.|
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