2026-03-31 21:17:31
Main Street Capital Corporation Issues Additional $200 Million in 6.95% Notes Due 2029
Expected Stock impact: Slightly Positive
On March 27, 2026, Main Street Capital Corporation ("Main Street") entered into an underwriting agreement with RBC Capital Markets, LLC, to issue an additional $200 million in aggregate principal amount of its 6.95% notes due 2029 (the "New Notes"). This issuance follows the previous issuance of $350 million of the same notes on January 12, 2024, under the Sixth Supplemental Indenture. The New Notes will be treated as a single series with the existing notes and will have the same terms, except for the issue date and offering price. The New Notes will mature on March 1, 2029, and will bear cash interest from March 1, 2026, at an annual rate of 6.95%, payable semiannually. The total outstanding amount of Main Street's 6.95% notes due 2029 will now be $550 million. The net proceeds from this offering are expected to be approximately $202.8 million after deducting underwriting discounts and estimated offering expenses, which Main Street intends to use primarily to repay outstanding indebtedness, including amounts under its credit facilities. This strategic move is anticipated to enhance Main Street's liquidity position and financial flexibility, allowing for continued investment in its portfolio and potential growth opportunities.
