Main Street Capital completes $150 million notes offering

Main Street Capital Corporation (NYSE: MAIN) completed a private offering of $150 million in unsecured notes, the company announced.

The notes bear interest at a fixed rate of 6.93% per year, payable semiannually, and mature on April 15, 2031. Main Street has the option to redeem the notes in whole or in part at any time at par plus accrued interest and, if applicable, a make-whole premium.

The company plans to use proceeds to repay outstanding indebtedness under its corporate revolving credit facility and special purpose vehicle revolving credit facility, make investments according to its investment strategies, invest in marketable securities and idle funds investments, pay operating expenses and for 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.

Main Street Capital 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 private equity funds. The company's lower middle market portfolio companies typically have annual revenues between $10 million and $150 million, while its private loan portfolio companies generally have annual revenues between $25 million and $500 million.

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