Runway Growth Finance Issues $46.33M 7.75% Notes; Plans SWK 2027 Redemption

What Happened Runway Growth Finance Corp. announced on October 1, 2026 that it entered into a Fifth Supplemental Indenture and issued $46,329,125 aggregate principal amount of 7.75% Notes due October 1, 2031. The new Notes pay 7.75% interest annually (quarterly in arrears on Mar 1, Jun 1, Sep 1 and Dec 1, beginning Dec 1, 2026), are unsecured, and rank pari passu with the company’s other unsecured, unsubordinated debt. The offering closed October 1, 2026 and was registered on Form N‑2.

Key Details

• Amount issued: $46,329,125 aggregate principal of 7.75% Notes due Oct 1, 2031.
• Interest/payments: 7.75% annual rate; quarterly payments beginning Dec 1, 2026.
• Redemption terms: Callable at the company’s option on or after Oct 1, 2028 (30–60 days’ notice) at $25 per Note plus accrued interest.
• Use of proceeds: Net proceeds intended to repay outstanding indebtedness (including borrowings under the Credit Facility) and to redeem all outstanding SWK 2027 Notes.
• SWK 2027 redemption: Runway assumed SWK’s 9.00% Senior Notes due 2027 on Apr 6, 2026 and on Oct 1, 2026 elected to redeem all $32,969,000 outstanding SWK 2027 Notes, expected redemption date Nov 3, 2026 at 100% of principal plus accrued interest.

Why It Matters For investors, this filing shows Runway has added a material unsecured debt instrument, increasing its long‑term interest-bearing obligations while simultaneously planning to retire the assumed SWK 2027 Notes. The new Notes rank equally with Runway’s other unsecured debt but are effectively subordinated to any secured borrowings (including the Credit Facility) and structurally subordinated to obligations of subsidiaries. Key items to watch: impact on Runway’s leverage and interest expense, progress on using proceeds to reduce Credit Facility borrowings, and completion of the planned SWK 2027 redemption on Nov 3, 2026.