MSC Income Fund Announces Completion of $150.0 Million Investment Grade Notes Offering

Rhea-AI Summary

MSC Income Fund (NYSE: MSIF) completed a private offering of $150.0 million unsecured notes bearing a fixed 6.83% annual interest rate, maturing on September 30, 2029. An initial $75.0 million closed on September 1, 2026, with a second $75.0 million closing expected in October 2026, subject to customary conditions. Proceeds are intended mainly to repay $150.0 million of 4.04% Series A Senior Notes due October 30, 2026, and to temporarily reduce borrowings under the Fund’s revolving credit facilities before being re-drawn for investments and general corporate purposes.

Positive

• $150.0 million unsecured notes issued, extending debt maturity to 2029
• Offering split into two $75.0 million tranches, providing staged funding
• Fixed interest rate of 6.83% locks in borrowing costs to 2029
• Proceeds earmarked to refinance $150.0 million Series A Notes due 2026

Negative

• New notes carry a 6.83% coupon versus 4.04% on Series A Notes
• Remaining $75.0 million issuance in October 2026 is subject to closing conditions

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

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HOUSTON, Sept. 1, 2026 /PRNewswire/ -- MSC Income Fund, Inc. (NYSE: MSIF) ("MSC Income" or the "Fund") is pleased to announce the closing of a private notes offering totaling $150.0 million in aggregate principal amount (the "Notes"). The Notes are unsecured and bear interest at a fixed rate of 6.83% per year, payable semiannually, mature on September 30, 2029 and may be redeemed in whole or in part at any time or from time to time at MSC Income's option at par plus accrued interest to the prepayment date and, if applicable, a make-whole premium. The Notes will be issued in two separate closings. The initial issuance of $75.0 million of Notes closed today, and the Fund will issue the remaining $75.0 million of Notes in October 2026, subject to customary closing conditions.

MSC Income intends to use the net proceeds from this offering to repay the $150.0 million of outstanding 4.04% Series A Senior Notes due 2026 on or before their maturity on October 30, 2026. Pending such use, MSC Income intends to repay a portion of the outstanding debt borrowed under its floating rate multi-year revolving credit facility (the "Corporate Facility") and its special purpose vehicle revolving credit facility (the "SPV Facility" and, together with the Corporate Facility, the "Credit Facilities") and then, through re-borrowing under its Credit Facilities, to fund investments in accordance with its investment objective and strategies, to pay operating expenses and other cash obligations and for general corporate purposes.

The Notes have not been and will not be registered under the Securities Act of 1933, as amended (the "Securities Act"), or any state securities laws and may not be offered or sold in the United States absent registration or an applicable exemption from the registration requirements of the Securities Act and applicable state securities laws. This news release shall not constitute an offer to sell or a solicitation of an offer to purchase the Notes or any other securities and shall not constitute an offer, solicitation or sale in any state or jurisdiction in which such an offer, solicitation or sale would be unlawful.

ABOUT MSC INCOME FUND, INC.

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

ABOUT MSC ADVISER I, LLC

MSC Adviser I, LLC ("MSCA") is a wholly-owned subsidiary of Main Street that is registered as an investment adviser under the Investment Advisers Act of 1940, as amended. MSCA serves as the investment adviser and administrator of the Fund in addition to several other advisory clients.

FORWARD-LOOKING STATEMENTS

This news release may contain certain forward-looking statements, including but not limited to the availability of future financing capacity under the Fund's Credit Facilities. 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 the Fund's control, and that the Fund may or may not have considered; accordingly, such statements cannot be guarantees or assurances of any aspect of future performance. Actual performance 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 the Fund's filings with the U.S. Securities and Exchange Commission. Such statements speak only as of the time when made and are based on information available to the Fund as of the date hereof and are qualified in their entirety by this cautionary statement. The Fund assumes no obligation to revise or update any such statement now or in the future.

Contacts:
MSC Income Fund, Inc.
Dwayne L. Hyzak, CEO, dhyzak@mainstcapital.com
Cory E. Gilbert, CFO, cgilbert@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/msc-income-fund-announces-completion-of-150-0-million-investment-grade-notes-offering-302866487.html

SOURCE MSC Income Fund, Inc.

FAQ

What did MSC Income Fund (NYSE: MSIF) announce on September 1, 2026 regarding a notes offering?

MSC Income Fund announced a private placement of $150.0 million unsecured notes at a 6.83% fixed rate, maturing September 30, 2029. According to MSC Income, the deal funds in two $75.0 million closings and supports refinancing and general corporate purposes.

What are the key terms of MSC Income Fund’s $150 million notes offering (MSIF) due 2029?

The notes are unsecured, total $150.0 million, bear 6.83% annual interest paid semiannually, and mature on September 30, 2029. According to MSC Income, they may be redeemed at par plus accrued interest and, if applicable, a make-whole premium.

How will MSC Income Fund use the proceeds from its $150 million private notes offering (MSIF)?

MSC Income plans to use net proceeds to repay $150.0 million of 4.04% Series A Senior Notes due October 30, 2026. According to MSC Income, proceeds will also temporarily reduce credit facility borrowings and later fund investments, expenses, and general corporate purposes.

When will MSC Income Fund complete funding of the $150 million notes offering (NYSE: MSIF)?

The initial $75.0 million of notes closed on September 1, 2026, with another $75.0 million expected in October 2026. According to MSC Income, the second closing is subject to customary closing conditions typical for private note transactions.

Are MSC Income Fund’s new 6.83% notes (MSIF) registered under the Securities Act of 1933?

The new notes are not registered and will not be registered under the Securities Act of 1933 or state securities laws. According to MSC Income, they may only be offered or sold in the United States under applicable registration exemptions and legal requirements.