Markets

Main Street Prices Public Offering of $250 Mln 5.2% Notes due 2024

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.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

Copyright (C) 2016 MTNewswires.com. All rights reserved. Unauthorized reproduction is strictly prohibited.


The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

In This Story

MAIN

Other Topics

ETFs

Latest Markets Videos

    MTNewswires

    Founded in 1999, MT Newswires (formerly known as Midnight Trader) is a leading provider of original source, multi-asset class, real-time, global financial news and information to most of the largest banks, brokerage firms and professional market data, trading & research applications in North America.

    Learn More