Main Street Capital Secures New Credit Facility

TL;DR

MSCC just inked a new credit facility, boosting their borrowing power.

AI Summary

On September 11, 2024, Main Street Capital Corporation entered into a material definitive agreement, specifically a credit facility. This agreement creates a direct financial obligation for the company. The filing details the terms and conditions of this new credit facility.

Why It Matters

This new credit facility provides Main Street Capital with additional financial flexibility and resources, potentially impacting its ability to fund operations and future investments.

Risk Assessment

Risk Level: medium — Entering into new debt obligations can increase financial leverage and associated risks, especially if market conditions change.

Key Players & Entities

• Main Street Capital Corporation (company) — Registrant
• September 11, 2024 (date) — Date of earliest event reported

FAQ

Key Financial Figures

• $0.01 — ich registered Common Stock, par value $0.01 per share MAIN New York Stock Exchange
• $100,000,000 — the issuance and sale of an additional $100,000,000 in aggregate principal amount (the "Off
• $300,000,000 — ch, on June 4, 2024, Main Street issued $300,000,000 in aggregate principal amount of its 6.
• $400,000,000 — f Main Street's 6.50% notes due 2027 is $400,000,000. The New Notes are direct unsecured obl
• $101.3 m — eived by Main Street were approximately $101.3 million, after deducting the underwriting

Filing Documents

• main-20240911.htm (8-K) — 42KB
• main-september2024bondxund.htm (EX-1.1) — 276KB
• main-september2024bondsxex.htm (EX-5.1) — 24KB
• dechertlogo.jpg (GRAPHIC) — 10KB
• mainst-logo.jpg (GRAPHIC) — 79KB
• 0001396440-24-000197.txt ( ) — 646KB
• main-20240911_lab.xml (EX-101.LAB) — 22KB
• main-20240911_pre.xml (EX-101.PRE) — 13KB
• main-20240911.xsd (EX-101.SCH) — 2KB
• main-20240911_htm.xml (XML) — 3KB

01 Entry into a Material Definitive Agreement

Item 1.01 Entry into a Material Definitive Agreement. On September 11, 2024, Main Street Capital Corporation ("Main Street") entered into an underwriting agreement (the "Underwriting Agreement") by and between Main Street and Truist Securities, Inc., as representative of the underwriters named in Schedule A thereto, in connection with the issuance and sale of an additional $100,000,000 in aggregate principal amount (the "Offering") of Main Street's 6.50% notes due 2027 (the "New Notes"). The New Notes were issued as additional notes under the Seventh Supplemental Indenture, dated June 4, 2024, between Main Street and The Bank of New York Mellon Trust Company, N.A., as trustee (the "Trustee"), to the indenture, dated April 2, 2013, between Main Street and the Trustee (the "Base Indenture" and, together with the Seventh Supplemental Indenture, the "Indenture"), pursuant to which, on June 4, 2024, Main Street issued $300,000,000 in aggregate principal amount of its 6.50% notes due 2027 (the "Existing 2027 Notes" and, together with the New Notes, the "Notes"). The New Notes are treated as a single series with the Existing 2027 Notes under the Indenture and have the same terms as the Existing 2027 Notes, other than the issue date and offering price. The New Notes will mature on June 4, 2027 unless previously redeemed or repurchased in accordance with their terms . The New Notes bear cash interest from June 4, 2024, at an annual rate of 6.50% payable semiannually on June 4 and December 4 of each year, beginning on December 4, 2024 . The New Notes will have the same CUSIP number and are fungible and rank equally with the Existing 2027 Notes. Including the New Notes, the outstanding aggregate principal amount of Main Street's 6.50% notes due 2027 is $400,000,000. The New Notes are direct unsecured obligations of Main Street and rank equally in right of payment with Main Street's existing and future unsecured indebtedness but effectively subordinated to all of Main Street'

01 Financial Statements and Exhibits

Item 9.01 Financial Statements and Exhibits. (d) Exhibits 1.1 Underwriting Agreement, dated September 11, 2024, between Main Street Capital Corporation and Truist Securities, Inc. as representative of the underwriters named in Schedule A thereto 5.1 Opinion of Dechert LLP, dated September 13, 2024 23.1 Consent of Dechert LLP (included in Exhibit 5.1) 104 Cover Page Interactive Data File (embedded within the Inline XBRL document)

SIGNATURES

SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. Main Street Capital Corporation Date: September 13, 2024 By: /s/ Jason B. Beauvais Name: Jason B. Beauvais Title: General Counsel

View Full Filing

View this 8-K filing on SEC EDGAR