v3.26.1
DEBT (Tables)
 6 Months Ended
Jun. 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 June 30, 2026 is as follows:
Outstanding Balance
Unamortized Debt Issuance
Costs (1)
Recorded Value
Estimated Fair Value (2)
(in thousands)
SPV Facility$249,000 $— $249,000 $249,000 
Corporate Facility113,000 — 113,000 113,000 
Main Street Facility— — — — 
October 2026 Notes150,000 (99)149,901 148,486 
May 2029 Notes150,000 (721)149,279 148,129 
Total Debt$662,000 $(820)$661,180 $658,615 
_________________
(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 Facility209,000 — 209,000 209,000 
October 2026 Notes150,000 (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 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 six months ended June 30, 2026 and 2025 is as follows:
Three Months Ended June 30,Six Months Ended June 30,
2026202520262025
(dollars in millions)
Weighted-average debt outstanding$666.3 $562.7 $646.2 $537.4 
Weighted-average effective interest rate5.9 %6.2 %5.8 %6.3 %
Schedule of Interest Expense
A summary of MSC Income’s interest expense for the three and six months ended June 30, 2026 and 2025 is as follows:
Three Months Ended June 30,Six Months Ended June 30,
2026202520262025
(in thousands)
SPV Facility$4,008 $4,217 $7,945 $9,014 
Corporate Facility1,803 2,871 4,646 4,728 
Main Street Facility
29 — 92 — 
October 2026 Notes1,589 1,590 3,179 3,179 
May 2029 Notes2,436 — 2,923 — 
Total Interest Expense$9,865 $8,678 $18,785 $16,921