Main Street Capital Investor Day Presentation Deck
MSC Income Fund - Background
MSC Income Fund (MSIF) is a
non-listed BDC
MAIN (1) historically was the
subadviser to MSIF's former
adviser
MAIN (1) became the sole
adviser to MSIF in October
2020
●
Since becoming the sole adviser to MSIF(¹) in October
2020, we have accomplished the following:
●
MAIN ST
CAPITAL CORPORATION
Addressed MSIF's capital structure limitations
MAIN provided an initial debt financing solution
Facilitated new special purpose vehicle (SPV) financing
arrangement to replace historical SPV
Reinstated MSIF's co-investment activities with MAIN
Reinstated shareholder dividends which currently represent an
annual dividend equal to MSIF's historical annualized dividend rate
paid prior to suspending the dividends in July 2020
Obtained investment grade debt rating and further strengthened
MSIF's capital structure
Unsecured long-term debt issuance in October 2021
(1) Through MSC Adviser I, LLC (the External Investment Manager), MAIN's wholly owned unconsolidated registered investment adviser subsidiary
Main Street Capital Corporation
NYSE: MAIN
Achieved a "fully invested" portfolio based on MSIF's existing
capital structure
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