Main Street Raises $150M in 6.93% Fixed-Rate Notes Maturing 2031
Main Street Capital closed a private notes offering raising $150 million of unsecured notes with a 6.93% fixed coupon maturing April 15, 2031. Proceeds will repay amounts under its corporate and SPV revolving credit facilities, fund new and marketable securities investments, cover operating expenses and support general corporate purposes.
1. Closing of $150M Note Offering
On April 9, Main Street Capital Corporation completed a private placement of $150 million in aggregate principal amount of unsecured notes to bolster its liquidity and support strategic financing initiatives.
2. Terms of the Notes
The notes carry a fixed 6.93% annual coupon payable semiannually, mature on April 15, 2031, and may be redeemed at par plus accrued interest and a make-whole premium at Main Street’s option.
3. Use of Proceeds
Net proceeds will repay outstanding balances under the company’s corporate and special purpose vehicle revolving credit facilities, fund new and marketable securities investments, cover operating expenses and support general corporate purposes.
4. Company Profile
Main Street Capital provides customized debt and equity financing to lower middle market companies, partnering on management buyouts, recapitalizations, growth financings and acquisitions alongside private equity sponsors.