Main Street Capital Fixed Income Presentation Deck
Stable, Long-Term Leverage - Significant Unused Capacity
MAIN maintains a
conservative capital
structure, with limited
overall leverage and
an intentional mix of
secured, floating rate
revolving debt and
unsecured, fixed rate
long-term debt
Capital structure is
designed to correlate
to and complement
the expected duration
and fixed/floating rate
nature of investment
portfolio assets
Facility
$980.0 million
Corporate
Facility (1)(3)
$255.0 million
SPV Facility(2)(3)
Notes Payable
Notes Payable
Notes Payable
SBIC Debentures
Interest Rate
SOFR+1.875% floating
(6.6% (4))
SOFR+2.50% floating
(7.3%(4))
3.00% fixed
5.20% fixed
7.74% (5) fixed
(weighted average)
2.87% fixed
(weighted average)
Maturity
August 2027(1)
MAIN ST
CAPITAL CORPORATION
November 2027(²)
Redeemable at MAIN's option at
any time, subject to certain make
whole provisions; Matures
July 14, 2026
Redeemable at MAIN's option at
any time, subject to certain make
whole provisions; Matures
May 1, 2024
Redeemable at MAIN's option at
any time, subject to certain make
whole provisions; Matures
December 23, 2025
Various dates between 2023 -
2031
(weighted average duration = 5.1
years)
Principal Drawn
$394.0 million
$170.0 million
$500.0 million
$450.0 million
$150.0 million
$334.0 million
(1)
As of March 31, 2023, MAIN maintained a corporate revolving line of credit (the Corporate Facility), which had $980.0 million in total commitments with an accordion feature with
the right to request an increase up to $1.4 billion; the Corporate Facility is fully revolving until August 2026, with a maturity date in August 2027
(2) As of March 31, 2023, MAIN maintained a secured special purpose vehicle financing facility (the SPV Facility), which had $255.0 million in total commitments with an accordion
feature with the right to request an increase up to $450.0 million; the SPV Facility is fully revolving until November 2025, with a maturity date in November 2027
(3) Borrowings under the Corporate Facility and the SPV Facility (together, the Credit Facilities) are available to provide additional liquidity for investment and operational activities
(4) Credit Facilities' rates reflect the rate based on SOFR as of March 31, 2023 and effective as of the contractual reset date as of April 1, 2023
(5) Based upon $100.0 million and $50.0 million in aggregate principal amount bearing interest at 7.84% and 7.53%, respectively
Main Street Capital Corporation
NYSE: MAIN
mainstcapital.com
Page 18View entire presentation