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8-K2026-03-31· grok-4-1-fast-non-reasoning

MAIN · Main Street Capital Corporation

0001396440-26-000046

SEC filing

Summary

Main Street Capital Corporation issued $200 million of additional 6.95% notes due 2029, increasing total outstanding principal to $550 million, with net proceeds of approximately $202.8 million for debt repayment.

Key takeaways

Full analysis

Main Street Capital Corporation executed an underwriting agreement on March 27, 2026, with RBC Capital Markets, LLC as representative, for a $200 million public offering of additional 6.95% notes due March 1, 2029. These New Notes supplement the $350 million Existing 2029 Notes issued January 12, 2024 under the same Indenture with The Bank of New York Mellon Trust Company, N.A. as trustee, forming a single fungible series sharing CUSIP and terms except issue date and price. The offering closed March 31, 2026, yielding $202.8 million net proceeds after underwriting discounts and expenses, earmarked for repaying credit facilities and other debt. The unsecured senior notes rank equally with other unsecured debt but are effectively junior to secured debt and structurally junior to subsidiary obligations. Redemption flexibility includes optional calls before the February 1, 2029 Par Call Date at a make-whole premium (Treasury Rate plus 45 basis points, assuming Par Call maturity) or par, and par thereafter, plus change-of-control repurchase rights. Covenants mandate 1940 Act asset coverage compliance (with SEC relief) and reporting continuity. This capital raise bolsters Main Street's liquidity as a BDC/RIC, optimizing its debt profile amid ongoing investment activities.