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Ares Capital Corporation Prices Public Offering of $850 Million 2.875% Unsecured Notes Due 2028
NEW YORK--(BUSINESS WIRE)-- Ares Capital Corporation (Nasdaq: ARCC) announced that it has priced an underwritten public offering of $850 million in aggregate
About this update from Ares Capital Corporation
[{"type":"text","content":" NEW YORK--(BUSINESS WIRE)--\nAres Capital Corporation (Nasdaq: ARCC) announced that it has priced an underwritten public offering of $850 million in aggregate principal amount of 2.875% notes due 2028. The notes will mature on June 15, 2028 and may be redeemed in whole or in part at Ares Capital’s option at any time at par plus a “make-whole” premium, if applicable.\n\nBofA Securities, Inc., J.P. Morgan Securities LLC, SMBC Nikko Securities America, Inc., Wells Fargo Securities, LLC, Mizuho Securities USA LLC, MUFG Securities Americas Inc., RBC Capital Markets, LLC and Truist Securities, Inc. are acting as joint book-running managers for this offering. BNP Paribas Securities Corp., Capital One Securities, Inc., CIBC World Markets Corp., HSBC Securities (USA) Inc., ICBC Standard Bank Plc, Natixis Securities Americas LLC, Regions Securities LLC, SG Americas Securities, LLC and R. Seelaus & Co., LLC are acting as joint lead managers for this offering. Barclays Capital Inc., ING Financial Markets LLC, Morgan Stanley & Co. LLC, Santander Investment Securities Inc., BNY Mellon Capital Markets, LLC, Citigroup Global Markets Inc., Comerica Securities, Inc., Credit Suisse Securities (USA) LLC, Deutsche Bank Securities Inc., Goldman Sachs & Co. LLC, JMP Securities LLC and Keefe, Bruyette & Woods, Inc. are acting as co-managers for this offering. The offering is expected to close on June 10, 2021, subject to customary closing conditions.\n\nAres Capital expects to use the net proceeds of this offering to repay certain outstanding indebtedness under its debt facilities. Ares Capital may reborrow under its debt facilities for general corporate purposes, which include investing in portfolio companies in accordance with its investment objective.\n\nInvestors are advised to carefully consider the investment objective, risks, charges and expenses of Ares Capital before investing. The pricing term sheet dated June 3, 2021, the preliminary prospectus supplement dated June 3, 2021 and the accompanying prospectus dated June 3, 2021, each of which have been filed with the Securities and Exchange Commission, contain this and other information about Ares Capital and should be read carefully before investing.\n\nThe information in the pricing term sheet, the preliminary prospectus supplement, the accompanying prospectus and this press release is not co...