RWAYI Runway Growth Finance Corp.
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Executive Summary
Runway Growth Finance Corp. issued $50 million of 7.00% Notes due 2029 in an underwritten public offering, with net proceeds intended to repay borrowings under its Credit Facility and for general corporate purposes. The notes are unsecured senior obligations ranking pari passu with existing unsecured notes, and the transaction closed on May 29, 2026.
Key Financial Metrics
Actionable Insight
This is a routine refinancing debt issuance for a BDC — the 7.00% coupon is a modest cost of capital. Monitor the Q2 2026 earnings for the impact on net investment income and leverage ratios from the debt paydown and new interest expense. No immediate trading catalyst for the preferred shares (RWAYI).
Key Facts
- Issued $50,000,000 aggregate principal amount of 7.00% Notes due 2029
- Notes mature December 1, 2029, interest paid semi-annually at 7.00% per annum
- Issue price of 98.859%, net proceeds to issuer of 97.359% before expenses
- Underwriting discount of 1.50% ($750,000)
- Proceeds to repay Credit Facility and for general corporate purposes
- Notes are unsecured, rank pari passu with existing unsecured notes (7.50% 2027, 9.00% 2027, 7.25% 2031)
- Notes not listed on any exchange; no established trading market
- Sole book-running manager: Oppenheimer & Co. Inc.; Co-manager: BC Partners Securities, LLC
- Trade date May 27, 2026; settlement May 29, 2026 (T+2)
Financial Impact
$50 million debt issuance, net proceeds of approximately $48.68 million (97.359% of principal) before expenses, used to repay Credit Facility borrowings
Risk Factors
- No established trading market for the Notes — liquidity risk for holders
- Notes are structurally subordinated to secured Credit Facility and subsidiary obligations
- Optional redemption by issuer prior to maturity may cap price appreciation
- Change of control repurchase event could force early repayment
Market Snapshot
Documents Analyzed
This report is based on 7 SEC documents filed with EDGAR.
| Document | Accession Number |
|---|---|
| 8-K Filing (Primary) | 0001104659-26-068282 |
| Document: tm2616014d1_ex4-2.htm | 0001104659-26-068282 |
| Document: tm2616014d1_8k.htm | 0001104659-26-068282 |
| Document: tm2616014d1_ex5-1.htm | 0001104659-26-068282 |
| Document: 0001104659-26-068282-index-headers.html | 0001104659-26-068282 |
| Document: 0001104659-26-068282-index.html | 0001104659-26-068282 |
| Document: 0001104659-26-068282.txt | 0001104659-26-068282 |
Track record builds as more directional reports settle.
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
|
May 29, 2026
16d ago
|
8-K
| $24.70 $24.53 | ▼ −0.69% | ▲ +2.06% | $24.58 (−0.49%) |
|
Apr 13, 2026
8w ago
|
3
| $25.44 $25.28 | ▼ −0.63% | ▼ −2.02% | $24.58 (−3.38%) |
|
Apr 7, 2026
9w ago
|
8-K
| $25.14 $25.44 | ▲ +1.19% | ▼ −4.14% | $24.58 (−2.23%) |
US Market Status
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