HOUSTON, Oct. 31, 2014 /PRNewswire/ -- Main Street
Capital Corporation (NYSE: MAIN) ("Main Street") announced today
that it has priced an underwritten public offering of $175.0 million in aggregate principal amount of
its 4.50% unsecured notes due 2019. The notes will mature on
December 1, 2019 and may be redeemed
in whole or in part at the Company's option at any time at par plus
a "make-whole" premium, if applicable. The notes will bear
interest at a rate of 4.50% per year, payable semi-annually on
June 1 and December 1 of each year, beginning on
June 1, 2015. The offering is
subject to customary closing conditions and is expected to close on
November 5, 2014.
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.
The underwriters of this offering are RBC Capital Markets, LLC,
Goldman, Sachs & Company and Keefe, Bruyette & Woods, Inc.
(as joint bookrunners) and BB&T Capital Markets, a division of
BB&T Securities, LLC, and Raymond
James & Associates, Inc. (as senior co-managers), and
Regions Securities LLC, Capital One Securities, Inc. and Sanders
Morris Harris Inc. (as co-managers).
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 October 31, 2014, the
preliminary prospectus supplement dated October 31, 2014, and the accompanying prospectus
dated May 7, 2014, 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, Three World Financial
Center, 200 Vesey St., 8th Floor, New
York, NY 10179, telephone: 866-375-6829, or e-mail:
rbcnyfixedincomeprospectus@rbccm.com; Goldman, Sachs & Co.,
Attn: Prospectus Department, 200 West Street, New York, NY 10282, telephone: 866-471-2526,
facsimile: 212-902-9316, or e-mail: prospectus-ny@ny.email.gs.com;
Keefe, Bruyette & Woods, Inc., 787 Seventh Avenue, 4th Floor,
New York, NY 10019, Attn: Capital
Markets, telephone: 800-966-1559.
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 is a principal investment firm that 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.
Main Street's common stock trades on the New York Stock Exchange
("NYSE") under the symbol "MAIN." In addition, Main Street
has outstanding 6.125% Notes due 2023, which trade on the NYSE
under the symbol "MSCA."
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. 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, CFO and Senior
Managing Director
dhyzak@mainstcapital.com
713-350-6000
Dennard - Lascar Associates
Ken Dennard | ken@dennardlascar.com
Jenny Zhou |
jzhou@dennardlascar.com
713-529-6600
SOURCE Main Street Capital Corporation