New Mountain extends $188.5 million revolver, lowers interest rate

By Wendy Van Sickle

Columbus, Ohio, June 9 – New Mountain Finance Corp. amended and restated its senior secured revolving credit agreement with Goldman Sachs Bank USA as administrative agent, according to an 8-K filing with the Securities and Exchange Commission.

The maturity date was extended by two years to June 4, 2026, and the commitment termination date was extended by four years to June 4, 2025.

The amended facility bears interest at Libor plus 210 basis points, decreased from Libor plus 250 bps.

Additionally, the language was updated to allow for a replacement for Libor.

Further, the maximum amount to which the facility may be increased to is $275 million, up from $200 million.

As of June 4, the total commitments under the facility were $188.5 million, of which $75 million were U.S. dollar commitments and $113.5 million were multi-currency commitments.

New Mountain Finance is a New York-based business development company.

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