MSC Income Fund Quarterly report pursuant to Section 13 or 15(d)

Quarterly report pursuant to Section 13 or 15(d)

DEBT (Tables)

DEBT (Tables)

3 Months Ended

Mar. 31, 2023

Summary of debt as of March 31, 2023 is as follows:


	Outstanding Balance		Unamortized Debt Issuance Costs (1)		Recorded Value		Estimated Fair Value (2)
	(dollars in thousands)

JPM SPV Facility	$	217,688	$	—	$	217,688	$	217,688

Series A Notes	150,000		(1,069)		148,931		140,937
TIAA Credit Facility	106,000		—		106,000		106,000
Total Debt	$	473,688	$	(1,069)	$	472,619	$	464,625

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(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 contra liabilities to the Series A Notes on the Consolidated Balance Sheets.

(2)Estimated fair value for outstanding debt if MSC Income Fund had adopted the fair value option under ASC 825. See discussion of the methods used to estimate the fair value of MSC Income Fund’s debt in Note B.9. — Summary of Significant Accounting Policies — Fair Value of Financial Instruments.

Summary of debt as of December 31, 2022 is as follows:


	Outstanding Balance		Unamortized Debt Issuance Costs (1)		Recorded Value		Estimated Fair Value (2)
	(dollars in thousands)

JPM SPV Facility	$	223,688	$	—	$	223,688	$	223,688

Series A Notes	150,000		(1,144)		148,856		132,955
TIAA Credit Facility	98,000		—		98,000		98,000
Total Debt	$	471,688	$	(1,144)	$	470,544	$	454,643

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Schedule of Interest Expense

Summarized interest expense for the three months ended March 31, 2023 and 2022 is as follows:


	Three Months Ended March 31,
	2023		2022
	(dollars in thousands)
JPM SPV Facility	$	4,818	$	2,393
Series A Notes	1,590		1,421
TIAA Credit Facility	1,927		715


Total Interest Expense	$	8,335	$	4,529