Reported Earlier, New Mountain Finance Raised $300M Via Secondary Offering Of Unsecured Notes Due 2027
Portfolio Pulse from Benzinga Newsdesk
New Mountain Finance Corporation (NASDAQ:NMFC) announced a $300 million secondary offering of 6.200% unsecured notes due 2027. The notes will mature on October 15, 2027, and can be redeemed early with a premium. The offering is expected to close on September 26, 2024.
September 24, 2024 | 7:07 am
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New Mountain Finance Corporation has raised $300 million through a secondary offering of unsecured notes due 2027, with a 6.200% interest rate. This move could strengthen the company's financial position.
The issuance of $300 million in unsecured notes provides NMFC with additional capital, which can be used for growth or debt management. The 6.200% interest rate is a fixed cost, and the ability to redeem the notes early offers financial flexibility. This is likely to be viewed positively by investors, potentially leading to a short-term increase in stock price.
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