Main Street Prices Public Offering of $200,000,000 Million of 6.95% Notes due 2029

Main Street Capital (NYSE: MAIN) priced an underwritten public offering of an additional $200.0 million aggregate principal of its 6.95% notes due 2029, at a public offering price of 102.061%, producing estimated gross proceeds of approximately $204.1 million.

Rhea-AI Summary

Main Street Capital (NYSE: MAIN) priced an underwritten public offering of an additional $200.0 million aggregate principal of its 6.95% notes due 2029, at a public offering price of 102.061%, producing estimated gross proceeds of approximately $204.1 million.

The 2029 Notes will be fungible with the existing 6.95% notes due 2029, increasing the outstanding aggregate principal to $550.0 million. Closing is expected on March 31, 2026, subject to customary conditions. Proceeds are intended to repay indebtedness and support ongoing investments.

Positive

• Gross proceeds of approximately $204.1 million
• Notes issued at 102.061% premium to par
• New notes are fungible and rank equally with existing series

Negative

• Outstanding 6.95% notes increased to $550.0 million
• Intended use includes repayment then re-borrowing under credit facilities

Argus Mar 30 session

+0.23% close to close Open Argus

Details

News Market Reaction – MAIN

On Mar 30, the first trading day after this news, MAIN closed 0.23% above the previous close.

Data tracked by StockTitan Argus for the Mar 30 session.

Key Figures

New notes principal: $200.0 million Coupon rate: 6.95% Offering price: 102.061% +5 more

New notes principal

$200.0 million

Additional 6.95% notes due 2029

Coupon rate

6.95%

Interest rate on 2029 Notes

Offering price

102.061%

Public offering price vs par

Gross proceeds

$204.1 million

Estimated gross proceeds from 2029 Notes

Yield-to-worst

6.146%

Yield-to-worst on 2029 Notes

Existing 2029 Notes

$350.0 million

Principal issued January 12, 2024

Total 2029 Notes

$550.0 million

Outstanding after this offering

Expected close date

March 31, 2026

Planned closing of 2029 Notes offering

Previous Offering Reports

5 past events · Latest: Mar 13

Same Type 5 events

1. Mar 13

   Debt notes offering

   24h Move

   +0.4%

   Private offering of $150M 6.34% unsecured notes due 2029.

2. Aug 13

   Public notes pricing

   24h Move

   -0.6%

   $350M public notes at 5.40% due 2028 to refinance debt.

3. Feb 04

   Equity offering close

   24h Move

   +0.0%

   MSIF completed common stock offering raising about $91M net.

4. Jan 30

   Follow-on equity deal

   24h Move

   +1.4%

   MSIF follow-on offering and NYSE listing raised $85.4M.

5. Jan 28

   Equity pricing

   24h Move

   -1.2%

   MSIF priced 5.5M-share offering at $15.53; use of proceeds debt paydown.

24h Move is the share-price change in the day after each event; other market factors may also have contributed.

Key Terms

yield-to-worst, cusip, indenture, prospectus supplement, +4 more

8 terms

yield-to-worst financial

"resulting in estimated gross proceeds of approximately $204.1 million and a yield-to-worst of 6.146%"

Yield-to-worst is the lowest possible annual return an investor would receive on a bond or similar fixed‑income security if the issuer uses any rights that shorten or change the payment schedule (for example, repaying early). It matters because it shows the most conservative income outcome—like checking the worst-case payout before you buy—so investors can compare securities knowing the downside of callable or otherwise adjustable terms.

cusip financial

"The 2029 Notes will have the same CUSIP number and will be fungible"

A CUSIP is a nine-character alphanumeric code that uniquely identifies a U.S. or Canadian financial security—such as a stock, bond, or fund share—like a Social Security number for an investment. It matters to investors because brokers, exchanges and record-keepers use the CUSIP to match trades, track ownership, settle transactions and pull accurate records, reducing errors and ensuring money and securities go to the right place.

View in glossary

indenture regulatory

"will be treated as a single series with the Existing 2029 Notes under the indenture"

An indenture is a legal agreement between a company that borrows money by issuing bonds and the people who buy those bonds. It explains the rules the company must follow, like paying back the money and keeping certain financial promises. This document helps both sides understand their rights and responsibilities.

prospectus supplement regulatory

"The pricing term sheet dated March 27, 2026, the preliminary prospectus supplement dated March 27, 2026"

A prospectus supplement is an additional document provided alongside a company's main offering details, offering updated or extra information about a specific financial product being sold. It helps investors understand the latest terms, risks, and details of the investment, similar to how an update or revision clarifies or expands on original instructions, ensuring they have current and complete information before making a decision.

prospectus regulatory

"the preliminary prospectus supplement dated March 27, 2026, the accompanying prospectus dated February 28, 2025"

A prospectus is a detailed document that explains a company's plans for offering new shares or investments to the public. It’s important because it provides potential investors with key information about the company’s business, risks, and how they might make money, helping them decide whether to invest. Think of it as a guidebook for understanding what you're buying into.

free writing prospectus regulatory

"any related free writing prospectus, and any information incorporated by reference"

A free writing prospectus is any written communication about a public securities offering that supplements the formal registration document and is delivered to potential investors without being filed in full in the official registration statement. It matters because it can include up-to-the-minute details, risks, or projections that affect how investors value the offering—think of it as a real-time update or flyer that adds important context beyond the static, formal brochure.

underwritten public offering financial

"it has priced an underwritten public offering of an additional $200.0 million"

An underwritten public offering is when a company sells new shares of its stock to the public with the help of a financial firm, called an underwriter. The underwriter agrees to buy all the shares upfront, reducing the company's risk, and then sells them to investors. This process helps companies raise money quickly and confidently from a wide range of buyers.

aggregate principal amount financial

"priced an underwritten public offering of an additional $200.0 million in aggregate principal amount"

The aggregate principal amount is the total amount of money borrowed through a bond or loan that the borrower promises to repay. It’s like the original price tag on a loan or bond, showing how much money is involved in the deal. This number matters because it indicates the size of the debt and helps investors understand the scale of the borrowing.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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HOUSTON, March 27, 2026 /PRNewswire/ -- Main Street Capital Corporation (NYSE: MAIN) ("Main Street") is pleased to announce that it has priced an underwritten public offering of an additional $200.0 million in aggregate principal amount of its 6.95% notes due 2029 (the "2029 Notes").

The 2029 Notes are being issued at a premium to par at a public offering price of 102.061% of the principal amount per 2029 Note, resulting in estimated gross proceeds of approximately $204.1 million and a yield-to-worst of 6.146%. The 2029 Notes are a further issuance of the 6.95% notes due 2029 that Main Street issued on January 12, 2024 in an aggregate principal amount of $350.0 million (the "Existing 2029 Notes"). The 2029 Notes will be treated as a single series with the Existing 2029 Notes under the indenture and will have the same terms as the Existing 2029 Notes. The 2029 Notes will have the same CUSIP number and will be fungible and rank equally with the Existing 2029 Notes. Upon the issuance of the 2029 Notes, the outstanding aggregate principal amount of Main Street's 6.95% notes due 2029 will be $550.0 million. The offering is subject to customary closing conditions and is expected to close on March 31, 2026.

Main Street intends to initially use the net proceeds from the offering to repay outstanding indebtedness, including amounts outstanding under Main Street's corporate revolving credit facility and/or its special purpose vehicle revolving credit facility, and then, through re-borrowing under the credit facilities, to make investments in accordance with its investment objective and strategies, to make investments in marketable securities and idle funds investments, to pay operating expenses and other cash obligations, and for general corporate purposes.

RBC Capital Markets, LLC, J.P. Morgan Securities LLC, SMBC Nikko Securities America, Inc. and Truist Securities, Inc. are acting as joint book-runners for the offering. Huntington Securities, Inc., Raymond James & Associates, Inc., Academy Securities, Inc., Zions Direct, Inc., TCBI Securities, Inc., doing business as Texas Capital Securities, Hancock Whitney Investment Services, Inc., Comerica Securities, Inc., FNB America Securities LLC and B. Riley Securities, Inc. are acting as co-managers for the offering.

Investors should carefully consider, among other things, Main Street's investment objective and strategies and the risks related to Main Street and the offering before investing. The pricing term sheet dated March 27, 2026, the preliminary prospectus supplement dated March 27, 2026, the accompanying prospectus dated February 28, 2025, each of which has been filed with the Securities and Exchange Commission, any related free writing prospectus, and any information incorporated by reference in each, contain this and other information about Main Street and should be read carefully before investing.

A shelf registration statement relating to these securities is on file with the Securities and Exchange Commission and effective. The offering may be made only by means of a preliminary prospectus supplement and an accompanying prospectus, copies of which may be obtained from RBC Capital Markets, LLC, Attention: Investment Grade Syndicate Desk, Brookfield Place, 200 Vesey Street, 8th Floor, New York, New York 10281, telephone: 866-375-6829, or e-mail: rbcnyfixedincomeprospectus@rbccm.com; J.P. Morgan Securities LLC, c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717, email at prospectus-eq_fi@jpmchase.com and postsalemanualrequests@broadridge.com; SMBC Nikko Securities America, Inc., 277 Park Avenue, New York, New York 10172, Attn: Debt Capital Markets, telephone: (1-888-868-6856) or e-mail: prospectus@smbcnikko-si.com; or Truist Securities, Inc., Attention: Prospectus Department, 740 Battery Avenue SE, 3rd Fl, Atlanta, Georgia 30339, telephone: 800-685-4786, or e-mail: TruistSecurities.prospectus@Truist.com.

The information in the pricing term sheet, the preliminary prospectus supplement, the accompanying prospectus and this press release is not complete and may be changed. The pricing term sheet, the preliminary prospectus supplement, the accompanying prospectus and this press release do not constitute offers to sell or the solicitation of offers to buy, nor will there be any sale of the securities referred to in this press release, in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of such state or jurisdiction.

ABOUT MAIN STREET CAPITAL CORPORATION

Main Street (www.mainstcapital.com) is a principal investment firm that primarily provides customized long-term debt and equity capital solutions to lower middle market companies and debt capital to private companies owned by or in the process of being acquired by a private equity fund. Main Street's portfolio investments are typically made to support management buyouts, recapitalizations, growth financings, refinancings and acquisitions of companies that operate in diverse industry sectors. Main Street seeks to partner with entrepreneurs, business owners and management teams and generally provides customized "one-stop" debt and equity financing solutions within its lower middle market investment strategy. Main Street seeks to partner with private equity fund sponsors and primarily invests in secured debt investments in its private loan investment strategy. Main Street's lower middle market portfolio companies generally have annual revenues between $10 million and $150 million. Main Street's private loan portfolio companies generally have annual revenues between $25 million and $500 million.

Main Street, through its wholly-owned portfolio company MSC Adviser I, LLC ("MSC Adviser"), also maintains an asset management business through which it manages investments for external parties. MSC Adviser is registered as an investment adviser under the Investment Advisers Act of 1940, as amended.

FORWARD-LOOKING STATEMENTS

This press release contains certain forward-looking statements which are based upon Main Street management's current expectations and are inherently uncertain. The forward-looking statements may include statements as to Main Street's notes offering, the expected net proceeds from the offering and the anticipated use of the net proceeds of the offering. Any such statements other than statements of historical fact are likely to be affected by other unknowable future events and conditions, including elements of the future that are or are not under Main Street's control, and that Main Street may or may not have considered; accordingly, such statements cannot be guarantees or assurances of any aspect of future performance. Actual performance, events and results could vary materially from these estimates and projections of the future as a result of a number of factors, including those described from time to time in Main Street's filings with the Securities and Exchange Commission. Such statements speak only as of the time when made and are based on information available to Main Street as of the date hereof and are qualified in their entirety by this cautionary statement. Main Street assumes no obligation to revise or update any such statement now or in the future.

Contacts:
Main Street Capital Corporation
Dwayne L. Hyzak, CEO, dhyzak@mainstcapital.com
Ryan R. Nelson, CFO, rnelson@mainstcapital.com
713-350-6000

Dennard Lascar Investor Relations
Ken Dennard / ken@dennardlascar.com
Zach Vaughan / zvaughan@dennardlascar.com
713-529-6600

View original content:https://www.prnewswire.com/news-releases/main-street-prices-public-offering-of-200-000-000-million-of-6-95-notes-due-2029--302727649.html

SOURCE Main Street Capital Corporation

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

What did Main Street (MAIN) announce on March 27, 2026 about new 2029 notes?

Main Street announced a public offering of $200.0 million additional 6.95% notes due 2029, yielding a yield-to-worst of 6.146%. According to Main Street, proceeds approximate $204.1 million and closing is expected March 31, 2026.

How will the March 2026 2029 notes offering affect MAIN's outstanding debt?

The issuance increases outstanding 6.95% notes due 2029 to $550.0 million, creating a single fungible series. According to Main Street, the new notes will have the same terms and CUSIP as the existing series.

What price and yield did MAIN achieve for the March 27, 2026 2029 notes offering?

The 2029 notes were priced at 102.061% of par, producing estimated gross proceeds of about $204.1 million and a yield-to-worst of 6.146%. According to Main Street, the notes are issued at a premium.

How does Main Street (MAIN) intend to use the net proceeds from the 2029 notes offering?

Main Street intends to use net proceeds to repay outstanding indebtedness, then re-borrow under credit facilities to fund investments and operations. According to Main Street, remaining proceeds will support investments, marketable securities, and general corporate purposes.

When is the expected closing date for MAIN's $200 million 6.95% notes offering?

The offering is expected to close on March 31, 2026, subject to customary closing conditions. According to Main Street, the closing remains conditional and the pricing term sheet and prospectus contain additional offering details.