MSC Income Fund Inc. (NYSE: MSIF) completed a private offering of $150 million in unsecured notes, the company announced March 13. The notes carry a fixed interest rate of 6.34% per year with semiannual payments and mature on May 31, 2029.

The fund may redeem the notes in whole or in part at any time at par plus accrued interest and, if applicable, a make-whole premium. MSC Income plans to use the net proceeds initially to repay outstanding debt under its floating rate revolving credit facility.

The company intends to then re-borrow under its credit facility to fund investments aligned with its investment objectives, pay operating expenses and other cash obligations, and support general corporate purposes.

The notes were not registered under the Securities Act of 1933 and may not be offered or sold in the United States without registration or an applicable exemption from registration requirements.

MSC Income Fund operates as a principal investment firm that provides debt capital to private companies owned by or being acquired by private equity funds. The fund's private loan portfolio companies typically generate annual revenues between $25 million and $500 million, while its lower middle market portfolio companies generally have revenues between $10 million and $150 million.

The fund's investment adviser, MSC Adviser I LLC, is a wholly-owned subsidiary of Main Street Capital Corporation (NYSE: MAIN) and is registered under the Investment Advisers Act of 1940.