Main Street Capital Corporation filed a Form 8-K on October 29, 2026, reporting the entry into an underwriting agreement and the closing of a $500.0 million offering of 6.55% notes due January 15, 2030, with net proceeds of approximately $493.0 million.

Key Highlights

  • Offering size: $500.0 million in aggregate principal amount of 6.55% notes due 2030
  • Net proceeds: Approximately $493.0 million after underwriting discounts and estimated offering expenses
  • Closing date: The offering closed on October 29, 2026
  • Interest payments: Cash interest at 6.55% per annum, payable semiannually on January 15 and July 15 each year, beginning July 15, 2027
  • Intended use of proceeds: Main Street disclosed it intends to initially use the net proceeds to repay outstanding indebtedness, including amounts outstanding under its credit facilities
  • Underwriter representative: RBC Capital Markets, LLC served as representative of the underwriters
  • Governing indenture: Notes issued under the Ninth Supplemental Indenture, dated October 29, 2026, with The Bank of New York Mellon Trust Company, N.A. as trustee

Main Street Capital's $500 Million Note Offering: Terms and Structure

According to the filing, Main Street Capital Corporation (NYSE:MAIN) entered into an underwriting agreement on October 27, 2026, with RBC Capital Markets, LLC as representative of the underwriters, in connection with the issuance of $500.0 million in aggregate principal amount of 6.55% notes due 2030. The offering closed on October 29, 2026, and the notes were issued under the Ninth Supplemental Indenture between Main Street and The Bank of New York Mellon Trust Company, N.A., as trustee, supplementing the base indenture dated April 2, 2013.

The filing states that the notes are "direct unsecured obligations of Main Street" that "rank equally in right of payment with Main Street's existing and future unsecured indebtedness but effectively subordinated to all of Main Street's outstanding and future secured indebtedness, to the extent of the value of the assets securing such indebtedness, and structurally subordinated to the debt and other obligations of any of Main Street's subsidiaries, financing vehicles or similar facilities." The notes mature on January 15, 2030, unless previously redeemed or repurchased.

The filing describes two redemption periods. Prior to December 15, 2029 (the "Par Call Date"), Main Street may redeem the notes at a price equal to the greater of a make-whole calculation based on the Treasury Rate plus 30 basis points or 100% of principal, plus accrued interest. On or after the Par Call Date, the notes may be redeemed at 100% of principal plus accrued interest. In addition, the filing discloses that upon a "change of control repurchase event," holders may require Main Street to repurchase their notes at 100% of principal plus accrued and unpaid interest. The offering was made pursuant to Main Street's effective shelf registration statement on Form N-2 (Registration No. 333-285405).

What Was Disclosed

Main Street Capital Corporation disclosed the closing of a $500.0 million unsecured note offering at 6.55% due January 15, 2030, generating approximately $493.0 million in net proceeds, which the company disclosed it intends to use initially to repay outstanding indebtedness, including credit facility balances.