Quarterly report [Sections 13 or 15(d)]

DEBT (Tables)

v3.26.3
DEBT (Tables)
 9 Months Ended
Sep. 30, 2026
Debt Disclosure [Abstract]  
Schedule of Debt and Average Amount of Total Borrowings Outstanding and Weighted-Overall Average Effective Interest Rate
A summary of MSC Income’s debt as of September 30, 2026 is as follows:
Outstanding Balance
Unamortized Debt Issuance
Costs (1)
Recorded Value
Estimated Fair Value (2)
(in thousands)
SPV Facility $ 248,000  $ —  $ 248,000  $ 248,000 
Corporate Facility 24,000  —  24,000  24,000 
Main Street Facility —  —  —  — 
October 2026 Notes 150,000  (25) 149,975  149,524 
May 2029 Notes 150,000  (659) 149,341  145,820 
September 2029 Notes 75,000  (587) 74,413  74,013 
Total debt $ 647,000  $ (1,271) $ 645,729  $ 641,357 
_________________
(1)The unamortized deferred financing costs for the Credit Facilities are reflected as Deferred financing costs on the Consolidated Balance Sheets, while the unamortized debt issuance costs related to the October 2026 Notes, May 2029 Notes and September 2029 Notes are reflected as contra-liabilities on the Consolidated Balance Sheets.
(2)Estimated fair value for outstanding debt is shown as if MSC Income had adopted the fair value option under ASC 825, Financial Instruments (“ASC 825”). See discussion of the methods used to estimate the fair value of MSC Income’s debt in Note B.10. — Summary of Significant Accounting Policies — Fair Value of Financial Instruments.
A summary of MSC Income’s debt as of December 31, 2025 is as follows:
Outstanding Balance
Unamortized Debt Issuance Costs (1)
 Recorded Value
Estimated Fair Value (2)
(in thousands)
SPV Facility $ 244,000  $ —  $ 244,000  $ 244,000 
Corporate Facility 209,000  —  209,000  209,000 
October 2026 Notes 150,000  (249) 149,751  146,936 
Total debt $ 603,000  $ (249) $ 602,751  $ 599,936 
___________________
(1)The unamortized deferred financing costs for the Credit Facilities are reflected as Deferred financing costs on the Consolidated Balance Sheets, while the unamortized debt issuance costs related to the October 2026 Notes are reflected as a contra-liability to the October 2026 Notes on the Consolidated Balance Sheets.
(2)Estimated fair value for outstanding debt is shown as if MSC Income had adopted the fair value option under ASC 825. See discussion of the methods used to estimate the fair value of MSC Income’s debt in Note B.10. — Summary of Significant Accounting Policies — Fair Value of Financial Instruments.
A summary of MSC Income’s weighted-average amount of total debt outstanding and overall weighted-average effective interest rate including amortization of debt issuance costs and fees on unused lender commitments for the three and nine months ended September 30, 2026 and 2025 is as follows:
Three Months Ended September 30, Nine Months Ended September 30,
2026 2025 2026 2025
(dollars in millions)
Weighted-average debt outstanding $ 656.5  $ 555.5  $ 641.9  $ 543.5 
Weighted-average effective interest rate 6.0  % 6.1  % 5.9  % 6.1  %
Schedule of Interest Expense
A summary of MSC Income’s interest expense for the three and nine months ended September 30, 2026 and 2025 is as follows:
Three Months Ended September 30, Nine Months Ended September 30,
2026 2025 2026 2025
(in thousands)
SPV Facility $ 4,000  $ 4,220  $ 11,945  $ 13,234 
Corporate Facility 1,464  2,839  6,110  7,567 
Main Street Facility
 29  —  121  — 
October 2026 Notes 1,590  1,590  4,769  4,769 
May 2029 Notes 2,440  —  5,363  — 
September 2029 Notes 428  —  428  — 
Total interest expense $ 9,951  $ 8,649  $ 28,736  $ 25,570