MSC Income Fund Announces $150M 6.83% Series A Notes Due 2029

What Happened
MSC Income Fund, Inc. (MSIF) announced on Form 8‑K that it entered into a Master Note Purchase Agreement (Aug 31, 2026) to issue $150.0 million aggregate of 6.83% Series A Senior Notes due September 30, 2029. The Company issued $75.0 million of the Series A Notes on September 1, 2026 and will issue the remaining $75.0 million in October 2026. Interest is fixed at 6.83% per year, payable semiannually on March 31 and September 30 beginning March 31, 2027. The Series A Notes are general unsecured obligations that rank pari passu with the Company’s other unsecured unsubordinated debt.

Key Details

• Aggregate principal: $150.0 million; $75.0M issued Sept 1, 2026, $75.0M to be issued Oct 2026.
• Coupon and maturity: 6.83% fixed interest, maturity Sept 30, 2029; interest paid semiannually.
• Use of proceeds: Intends to repay $150.0M of outstanding 4.04% Series A Senior Notes due Oct 30, 2026; temporarily repay portions of revolving credit facilities and re-borrow to fund investments and operations.
• Terms: Redeemable at par plus accrued interest (and, if applicable, a make-whole premium); contains customary covenants (including maintenance of BDC status, minimum asset coverage ratio and minimum consolidated net worth) and customary default provisions. Offered in a private placement under Section 4(a)(2) of the Securities Act.

Why It Matters
The transaction refinances $150M of near‑term 4.04% notes maturing Oct 30, 2026 with longer-dated 6.83% notes due 2029, extending the Company’s debt maturities but increasing its fixed coupon cost. For investors this means MSIF has addressed an imminent maturity, improving near-term liquidity and reducing rollover risk, while likely increasing interest expense over the term. Key items to monitor going forward are the Company’s leverage and asset coverage ratios, any triggers that could cause interest rate step-ups, and cash flow available to service the higher coupon.