Main Street Capital prices $350 million notes offering at 5.40%

Main Street Capital Corporation (NYSE: MAIN) priced an underwritten public offering of $350 million in aggregate principal amount of 5.40% notes due 2028, the company announced August 13.

The notes will bear interest at 5.40% per year, payable semiannually, and mature on August 15, 2028. Main Street may redeem the notes in whole or in part at any time at par plus a make-whole premium, if applicable. The offering is expected to close on August 15, 2025, subject to customary closing conditions.

The company intends to use net proceeds initially to repay outstanding indebtedness, including amounts under its corporate revolving credit facility or special purpose vehicle revolving credit facility. Main Street plans to then re-borrow under the credit facilities to make investments according to its investment objective and strategies, invest in marketable securities and idle funds investments, pay operating expenses and other cash obligations, and for general corporate purposes.

J.P. Morgan Securities LLC, RBC Capital Markets LLC, SMBC Nikko Securities America Inc. and Truist Securities Inc. are serving as joint book-runners for the offering. Multiple firms are acting as co-managers, including Huntington Securities Inc., Raymond James & Associates Inc., Academy Securities Inc., Zions Direct Inc., TCBI Securities Inc., Hancock Whitney Investment Services Inc., Comerica Securities Inc., WauBank Securities LLC and B. Riley Securities Inc.

Main Street is a principal investment firm that provides debt and equity capital solutions to lower middle market companies and debt capital to private companies owned by or being acquired by private equity funds. The company's lower middle market portfolio companies typically have annual revenues between $10 million and $150 million.

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