Business
Main Street Prices Public Offering of $200,000,000 Million of 6.95% Notes due 2029
Main Street Capital Corporation (NYSE: MAIN) ("Main Street") is pleased to announce that it has priced an underwritten public offering of an additional $200.0 million in aggregate principal amount of its 6.95% notes due 2029 (the "2029 Notes").
About this update from Main Street Capital Corporation
[{"type":"text","content":"HOUSTON, March 27, 2026 /PRNewswire/ -- Main Street Capital Corporation (NYSE: MAIN) ("Main Street") is pleased to announce that it has priced an underwritten public offering of an additional $200.0 million in aggregate principal amount of its 6.95% notes due 2029 (the "2029 Notes").","length":309,"tagName":"p"},{"type":"text","content":"The 2029 Notes are being issued at a premium to par at a public offering price of 102.061% of the principal amount per 2029 Note, resulting in estimated gross proceeds of approximately $204.1 million and a yield-to-worst of 6.146%. The 2029 Notes are a further issuance of the 6.95% notes due 2029 that Main Street issued on January 12, 2024 in an aggregate principal amount of $350.0 million (the "Existing 2029 Notes"). The 2029 Notes will be treated as a single series with the Existing 2029 Notes under the indenture and will have the same terms as the Existing 2029 Notes. The 2029 Notes will have the same CUSIP number and will be fungible and rank equally with the Existing 2029 Notes. Upon the issuance of the 2029 Notes, the outstanding aggregate principal amount of Main Street's 6.95% notes due 2029 will be $550.0 million. The offering is subject to customary closing conditions and is expected to close on March 31, 2026.","length":953,"tagName":"p"},{"type":"text","content":"Main Street intends to initially use the net proceeds from the offering to repay outstanding indebtedness, including amounts outstanding under Main Street's corporate revolving credit facility and/or its special purpose vehicle revolving credit facility, and then, through re-borrowing under the credit facilities, to make investments in accordance with its investment objective and strategies, to make investments in marketable securities and idle funds investments, to pay operating expenses and other cash obligations, and for general corporate purposes.","length":561,"tagName":"p"},{"type":"text","content":"RBC Capital Markets, LLC, J.P. Morgan Securities LLC, SMBC Nikko Securities America, Inc. and Truist Securities, Inc. are acting as joint book-runners for the offering. Huntington Securities, Inc., Raymond James & Associates, Inc., Academy Securities, Inc., Zions Direct, Inc., TCBI Securities, Inc., doing business as Texas Capital Securities, Hancock Whitney Investment Ser...