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Main Street Closes Public Offering Of An Additional $12.0 Million Of 6.125% Senior Notes Due 2023 Pursuant To The Full Exercise Of The Underwriters' Over-Allotment Option

Stocks in this article: MAIN

HOUSTON, April 16, 2013 /PRNewswire/ -- Main Street Capital Corporation (NYSE: MAIN) ("Main Street") announced today that, in connection with the public offering of $80.0 million in aggregate principal amount of 6.125% senior notes due 2023 (the "Notes") which closed on April 2, 2013, the underwriters fully exercised their option to purchase an additional $12.0 million in aggregate principal amount of Notes to cover over-allotments, bringing the total size of the offering to $92.0 million.  Net proceeds from the offering, including exercise of the over-allotment option and after deducting underwriting discounts and estimated offering expenses payable by Main Street, were approximately $89.0 million.  The Notes will mature on April 1, 2023, and may be redeemed in whole or in part at any time or from time to time at Main Street's option on or after April 1, 2018. The Notes bear interest from April 2, 2013 at a rate of 6.125% per year payable quarterly on January 1, April 1, July 1 and October 1 of each year, beginning July 1, 2013. The Notes are listed on the New York Stock Exchange and trade under the symbol "MSCA."

Main Street intends to use the net proceeds from this offering, including the net proceeds from the underwriters' over-allotment option, 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.

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