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MSC Income Fund Announces Completion of $150.0 Million Investment Grade Notes Offering
Prnewswire· 2026-03-13 18:00
Core Viewpoint - MSC Income Fund has successfully completed a private notes offering totaling $150.0 million, which will be used to repay outstanding debt and fund investments in line with its objectives [1][1][1] Group 1: Investment Offering Details - The notes are unsecured, with a fixed interest rate of 6.34% per year, payable semiannually, and maturing on May 31, 2029 [1][1][1] - The notes can be redeemed at any time at par plus accrued interest and potentially a make-whole premium [1][1][1] Group 2: Use of Proceeds - The net proceeds from the offering will initially be used to repay a portion of the outstanding debt under a floating rate multi-year revolving credit facility [1][1][1] - Following the repayment, the funds will be re-borrowed to support investments, cover operating expenses, and fulfill general corporate purposes [1][1][1] Group 3: Company Overview - MSC Income Fund primarily provides debt capital to private companies, particularly those owned by or in the process of being acquired by private equity funds [1][1][1] - The Fund's investments typically support leveraged buyouts, recapitalizations, growth financings, refinancings, and acquisitions across diverse industry sectors [1][1][1] - The Fund's portfolio companies generally have annual revenues ranging from $25 million to $500 million, while lower middle market companies have revenues between $10 million and $150 million [1][1][1]