Arthur Winston's questions to New Mountain Finance Corp (NMFC) leadership • Q1 2025
Question
Arthur Winston sought confirmation that PIK income is expected to decline, asked about the strategy for matching asset and liability variability through debt refinancing, and inquired about the duration of the dividend protection program.
Answer
Executive John Kline confirmed a strategic focus on reducing PIK income from 17% towards a target of 10-12%. He also affirmed the balance sheet is in 'great shape' with significant liquidity and opportunities to refinance debt favorably. COO Laura Holson clarified that the dividend protection program remains in place for the full calendar years of 2025 and 2026.