Quarterly report [Sections 13 or 15(d)]

DEBT (Tables)

v3.26.1
DEBT (Tables)
 3 Months Ended
Mar. 31, 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 March 31, 2026 is as follows:
Outstanding Balance
Unamortized Debt Issuance
Costs (1)
Recorded Value
Estimated Fair Value (2)
(in thousands)
SPV Facility $ 267,000  $ —  $ 267,000  $ 267,000 
Corporate Facility 83,000  —  83,000  83,000 
Main Street Facility —  —  —  — 
October 2026 Notes 150,000  (174) 149,826  147,617 
May 2029 Notes 150,000  (726) 149,274  149,362 
Total Debt $ 650,000  $ (900) $ 649,100  $ 646,979 
_________________
(1)The unamortized debt issuance 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 and May 2029 Notes are reflected as contra-liabilities to the October 2026 Notes and May 2029, respectively, 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 debt issuance 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 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 for the three months ended March 31, 2026 and 2025 is as follows:
Three Months Ended March 31,
2026 2025
(dollars in millions)
Weighted-average borrowings outstanding $ 625.9  $ 511.8 
Weighted-average effective interest rate 5.7  % 6.4  %
Schedule of Interest Expense
A summary of MSC Income’s interest expense for the three months ended March 31, 2026 and 2025 is as follows:
Three Months Ended March 31,
2026 2025
(in thousands)
SPV Facility $ 3,937  $ 4,796 
Corporate Facility 2,843  1,857 
Main Street Facility
 63  — 
October 2026 Notes 1,590  1,590 
May 2029 Notes 487  — 
Total Interest Expense $ 8,920  $ 8,243