MSC Income Fund Raises $150M Through 6.34% Unsecured Notes Due 2029
MSC Income Fund completed a private notes offering of $150 million unsecured notes at a fixed 6.34% interest rate, maturing May 31, 2029. Net proceeds will repay revolving credit facility debt and finance new investments, operating expenses, and general corporate purposes.
1. Offering Completion
MSC Income Fund announced the successful closing of a private offering of $150 million aggregate principal amount of unsecured notes. The notes bear a fixed 6.34% annual interest rate payable semiannually and mature on May 31, 2029.
2. Use of Proceeds
The fund plans to use the net proceeds to repay a portion of its outstanding floating rate revolving credit facility debt. It may then re-borrow under that facility to finance new investments, cover operating expenses, and support general corporate purposes.
3. Note Features and Redemption
These notes are unregistered under the Securities Act and may be redeemed in whole or in part at MSC Income Fund's option at par plus accrued interest and, if applicable, a make-whole premium. Redemption flexibility provides the fund with the ability to manage its debt profile actively.