Form 8-K - Current report
06 Luglio 2023 - 11:22PM
Edgar (US Regulatory)
0001496099
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0001496099
2023-06-29
2023-06-29
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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of
the
Securities Exchange Act of 1934
Date of Report (Date of Earliest Event Reported):
June 29, 2023
New Mountain Finance Corporation
(Exact name of registrant as specified in its
charter)
Delaware |
|
814-00832 |
|
27-2978010 |
(State or other jurisdiction
of
incorporation or organization) |
|
(Commission
File Number) |
|
(IRS Employer
Identification Number) |
1633 Broadway, 48th Floor,
New York, New York | 10019 |
(Address of principal executive
offices) | (Zip Code) |
Registrant’s telephone
number, including area code: (212) 720-0300
None
(Former name or former address, if changed since last report)
Check the appropriate box below if the Form 8-K
filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General
Instruction A.2. below):
¨ |
Written communications pursuant to Rule 425 under the Securities Act (17
CFR 230.425) |
¨ |
Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR
240.14a-12) |
¨ |
Pre-commencement communications pursuant to Rule 14d-2(b) under the
Exchange Act (17 CFR 240.14d-2(b)) |
¨ |
Pre-commencement communications pursuant to Rule 13e-4(c) under the
Exchange Act (17 CFR 240.13e-4(c)) |
Securities registered pursuant to Section 12(b) of the Act:
Title of each class |
|
Trading
Symbol(s) |
|
Name of each exchange on which registered |
Common stock, par value $0.01 per share |
|
NMFC |
|
NASDAQ Global Select Market |
Indicate by check mark whether the registrant
is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the
Securities Exchange Act of 1934 (§240.12b-2 of this chapter).
Emerging growth company ¨
If an emerging
growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with
any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ¨
Item 1.01. |
Entry into a Material Definitive Agreement. |
DB Credit Facility Amendment
On June 29, 2023, New Mountain
Finance Corporation (the “Company”) entered into Amendment No. 7 to the Loan Financing and Servicing
Agreement and Omnibus Amendment to Transaction Documents (the “Seventh Amendment”), which amended the Loan
Financing and Servicing Agreement, dated as of December 14, 2018, as amended by Amendment No. 1 thereto, dated as of March 18,
2019, Amendment No. 2 thereto, dated as of June 28, 2019, Amendment No. 3 thereto, dated as of August 12, 2019, Amendment
No. 4 thereto, dated as of November 25, 2019, Amendment No. 5 thereto, dated as of December 12, 2019, and Amendment
No. 6 thereto, dated as of March 25, 2021 (together with the exhibits and schedules thereto, the “DB Credit Facility”),
by and among the Company, as the equityholder and the servicer, New Mountain Finance DB, L.L.C., as the borrower, Deutsche Bank AG, New
York Branch, as the facility agent, U.S. Bank Trust Company, National Association, as the collateral agent, U.S. Bank National Association,
as collateral custodian, and the lenders and other agents from time to time party thereto. Unless otherwise indicated, the terms used
below have the meanings ascribed in the Seventh Amendment.
The Seventh Amendment amended
the DB Credit Facility to, among other things, (i) replace LIBOR with Term SOFR as the benchmark rate; (ii) increase the Applicable
Margin to reflect a credit spread adjustment; and (iii) revise the Accrual Periods and Distribution Dates to occur quarterly instead of
monthly following the Distribution Date occurring in July 2023.
The description above is
qualified in its entirety by reference to the copy of the Seventh Amendment, which will be filed as an exhibit to the Company’s Quarterly Report on Form 10-Q for the fiscal quarter ended June 30, 2023.
NMFC Credit Facility Amendment
On June 29, 2023, the Company
entered into Amendment No. 1 to the Amended and Restated Senior Secured Revolving Credit Agreement (the “First
Amendment”), which amended the Amended and Restated Senior Secured Revolving Credit Agreement, dated as of June 4, 2021
(together with the exhibits and schedules thereto, the “NMFC Credit Facility”), by and among the Company,
as the borrower, Goldman Sachs Bank, USA, as the administrative agent and syndication agent (in such capacity, the “Administrative
Agent”), and the lenders party thereto. Unless otherwise indicated, the terms used below have the meanings ascribed in the
First Amendment.
The First Amendment amended
the NMFC Credit Facility to, among other things, (i) replace LIBOR with Term SOFR as the benchmark rate; (ii) implement a credit
spread adjustment; (iii) update the procedures for transitions between benchmark rates in the event that Term SOFR does not remain the
industry standard for the benchmark rate; and (iv) increase the maximum amount of borrowings under the NMFC Credit Facility to $198,500,000
to reflect the maximum amount of borrowings agreed to in that certain Commitment Increase Agreement among the Company, the Increasing
Lender named therein, and the Administrative Agent in December 2021.
The description above is
qualified in its entirety by reference to the copy of the First Amendment, which will be filed as an exhibit to the Company’s Quarterly Report on Form 10-Q for the fiscal quarter ended June 30, 2023.
Item 2.03 |
Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant. |
The disclosure set forth above under Item 1.01
is incorporated by reference herein.
Item 9.01 |
Financial Statements and Exhibits |
Exhibit No.
104 |
Cover Page Interactive Data File (embedded within the Inline XBRL document). |
SIGNATURE
Pursuant to the requirements of the Securities Exchange
Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
|
New Mountain Finance Corporation |
|
|
|
|
By: |
/s/ Joseph W. Hartswell |
|
Name: |
Joseph W. Hartswell |
|
Title: |
Chief Compliance Officer and Corporate Secretary |
Date: July 6, 2023
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