HOUSTON, April 17, 2019 /PRNewswire/ -- Main Street
Capital Corporation (NYSE: MAIN) ("Main Street") is pleased to
announce that it has priced an underwritten public offering of
$250.0 million in aggregate principal
amount of 5.20% notes due 2024. The notes will bear interest at a
rate of 5.20% per year, payable semiannually, will mature on
May 1, 2024 and may be redeemed in
whole or in part at Main Street's option at any time at par plus a
"make-whole" premium, if applicable. The offering is subject to
customary closing conditions and is expected to close on
April 23, 2019.
Main Street intends to use the net proceeds from this offering
to initially repay outstanding debt borrowed under its credit
facility and then, through re-borrowing under the credit facility,
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, Goldman Sachs & Co. LLC,
Raymond James & Associates, Inc.
and BB&T Capital Markets, a division of BB&T Securities,
LLC are acting as joint bookrunners for this offering. Comerica
Securities, Inc. and Texas Capital (WoodRock Securities, L.P.) are
acting as co-managers for this 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 April 17, 2019, the
preliminary prospectus supplement dated April 17, 2019, and the accompanying prospectus
dated April 27, 2018, each of which
has been filed with the Securities and Exchange Commission, 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 and has been declared effective by the Securities
and Exchange Commission. 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, 200 Vesey Street, 8th
Floor, New York, NY 10281,
telephone: 866-375-6829, or e-mail:
rbcnyfixedincomeprospectus@rbccm.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
notes 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 long-term debt and equity capital to lower
middle market companies and debt capital to middle market
companies. 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 "one stop" financing alternatives within its
lower middle market portfolio. Main Street's lower middle
market companies generally have annual revenues between
$10 million and $150 million. Main Street's middle market debt
investments are made in businesses that are generally larger in
size than its lower middle market portfolio companies.
FORWARD-LOOKING STATEMENTS
This press release may
contain certain forward-looking statements which are based upon
Main Street management's current expectations and are inherently
uncertain. 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 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
Brent D. Smith, CFO,
bsmith@mainstcapital.com
713-350-6000
Dennard Lascar Investor
Relations
Ken Dennard |
ken@dennardlascar.com
Mark Roberson |
mroberson@dennardlascar.com
713-529-6600
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SOURCE Main Street Capital Corporation