MAIN · Main Street Capital Corporation

Main Street Capital Corporation, a business development company, completed a $150 million private placement of senior unsecured notes on April 8, 2026, via a Master Note Purchase Agreement with qualified institutional investors. The 6.93% Series A Notes mature in 2031 with semiannual interest payments and flexible redemption options at par plus a make-whole premium, providing Main Street with cost-effective long-term capital. This financing ranks pari passu with existing senior unsecured debt, bolstering the company's liability structure without increasing secured obligations. Proceeds primarily target refinancing existing debt under corporate and special purpose vehicle revolving credit facilities, freeing up liquidity for core activities like lower middle-market investments, private equity-backed loans, and marketable securities. The agreement imposes standard protections for noteholders, including maintenance of BDC status under the 1940 Act, asset coverage, and net worth thresholds, with interest rate step-ups (up to 2% above base) triggered by rating downgrades or debt ratio breaches, aligning incentives for financial discipline. Events of default mirror industry norms, ensuring accountability. This transaction extends Main Street's debt maturity profile, supports its investment strategy in diverse sectors, and signals market confidence in its investment-grade profile, as highlighted in the April 9 press release.