Quarterly report [Sections 13 or 15(d)]

DEBT (Tables)

v3.25.3
DEBT (Tables)
 9 Months Ended
Sep. 30, 2025
Debt Disclosure [Abstract]  
Schedule of Debt and Average Amount of Total Borrowings Outstanding and Weighted-Overall Average Effective Interest Rate
The following table provides a summary of MSC Income’s debt as of September 30, 2025.
Outstanding Balance
Unamortized Debt Issuance
Costs (1)
Recorded Value
Estimated Fair Value (2)
(in thousands)
SPV Facility $ 234,000  $ —  $ 234,000  $ 234,000 
Corporate Facility 145,000  —  145,000  145,000 
Series A Notes 150,000  (323) 149,677  146,083 
Total Debt $ 529,000  $ (323) $ 528,677  $ 525,083 
_________________
(1)The unamortized debt issuance costs for the Credit Facilities are reflected as Deferred financing costs on the Consolidated Balance Sheets, while the deferred debt issuance costs related to the Series A Notes are reflected as a contra-liability to the Series A 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, 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.
The following table provides a summary of MSC Income’s debt as of December 31, 2024.
Outstanding Balance
Unamortized Debt Issuance Costs (1)
 Recorded Value
Estimated Fair Value (2)
(in thousands)
SPV Facility $ 266,688  $ —  $ 266,688  $ 266,688 
Corporate Facility 149,000  —  149,000  149,000 
Series A Notes 150,000  (547) 149,453  141,892 
Total Debt $ 565,688  $ (547) $ 565,141  $ 557,580 
___________________
(1)The unamortized debt issuance costs for the Credit Facilities are reflected as Deferred financing costs on the Consolidated Balance Sheets, while the deferred debt issuance costs related to the Series A Notes are reflected as a contra-liability to the Series A 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 average amount of total borrowings outstanding and overall weighted-average effective interest rate including amortization of debt issuance costs, original issuance discounts and premiums and fees on unused lender commitments are as follows:
Three Months Ended September 30, Nine Months Ended September 30,
2025 2024 2025 2024
(dollars in millions)
Weighted-average borrowings outstanding $ 555.5  $ 531.1  $ 543.5  $ 504.5 
Weighted-average effective interest rate 6.1  % 7.8  % 6.1  % 7.8  %
Schedule of Interest Expense
Summarized interest expense for the three and nine months ended September 30, 2025 and 2024 is as follows:
Three Months Ended September 30, Nine Months Ended September 30,
2025 2024 2025 2024
(in thousands)
SPV Facility $ 4,220  $ 5,904  $ 13,234  $ 17,902 
Corporate Facility 2,839  2,880  7,567  6,799 
Series A Notes 1,590  1,590  4,769  4,769 
Total Interest Expense $ 8,649  $ 10,374  $ 25,570  $ 29,470