Main Street Capital ( MAIN ), a business development company, said after markets closed on Wednesday that it has priced an underwritten public offering of $250 million of 5.2% notes due 2024.
The notes will bear interest at a rate of 5.2% per year, payable semi-annually, will mature on May 1, 2024 and may be redeemed at Main Street's option at any time at par plus a "make-whole" premium, if applicable.
The offering is expected to close on Tuesday.
Main Street said it will use the net proceeds to initially repay outstanding debt borrowed under its credit facility and then, to make investments in marketable securities and idle funds investments, and to pay operating expenses and other cash obligations.
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
