Ares Capital Corporation Offers $ 500 Million Public Offering of 2.875% Unsecured Bonds Due 2027


NEW YORK–(COMMERCIAL THREAD) – Ares Capital Corporation (Nasdaq: ARCC) has announced that it has priced a $ 500 million subscribed public offering with a total principal amount of 2.875% of bonds maturing in 2027. The bonds will expire on June 15, 2027 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.

BofA Securities, Inc., JP 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. act as as co-bookkeepers for this offer. BNP Paribas Securities Corp., Capital One Securities, Inc., CIBC World Markets Corp., Goldman Sachs & Co. LLC, HSBC Securities (USA) Inc., ICBC Standard Bank Plc, Natixis Securities Americas LLC, R. Seelaus & Co. , LLC, Regions Securities LLC and SG Americas Securities, LLC are acting as joint lead managers for this offering. Barclays Capital Inc., BNY Mellon Capital Markets, LLC, ING Financial Markets LLC, Morgan Stanley & Co. LLC, Santander Investment Securities Inc., Academy Securities, Inc., Citigroup Global Markets Inc., Comerica Securities, Inc., Credit Suisse Securities (USA) LLC, Deutsche Bank Securities Inc., Keefe, Bruyette & Woods, Inc., Loop Capital Markets LLC, Samuel A. Ramirez & Company, Inc. and Siebert Williams Shank & Co., LLC act as co-managers for this offer. The offer is scheduled to close on January 13, 2022, subject to customary closing conditions.

Ares Capital expects to use the net proceeds of this offering to repay certain unpaid debts under its credit facilities. Ares Capital may re-borrow under its credit facilities for general corporate purposes, including by investing in holding companies in accordance with its investment objective.

Investors are urged to carefully consider the investment objective, risks, charges and expenses of Ares Capital before investing. The pricing terms sheet dated January 6, 2022, the preliminary prospectus supplement dated January 6, 2022 and the accompanying prospectus dated June 3, 2021, each of which has been filed with the Securities and Exchange Commission, contain this information. and others on Ares Capital and should be read carefully before investing.

The information contained in the pricing terms and conditions, the provisional prospectus supplement, the accompanying prospectus and this press release are not complete and are subject to change. The Pricing Terms Sheet, the preliminary prospectus supplement, the accompanying prospectus and this press release do not constitute offers to sell any securities of Ares Capital and do not solicit an offer to buy such securities in a territory where such an offer and sale is not permitted.

The offer may only be made by means of a preliminary prospectus supplement and accompanying prospectus. Copies of the preliminary prospectus supplement (and accompanying prospectus) can be obtained from BofA Securities, Inc., NC1-004-03-43, 200 North College Street, 3rd floor, Charlotte NC 28255-0001, at Attention: Prospectus Department, or by calling 1-800-294-1322 or emailing; JP Morgan Securities LLC, 383 Madison Avenue, New York NY 10179, Attn: Investment Grade Syndicate Desk, 1-212-834-4533; SMBC Nikko Securities America, Inc. at 277 Park Avenue, New York, New York 10172, Attn: Debt Capital Markets, 1-888-868-6856; or Wells Fargo Securities, LLC, 608 2nd Avenue South, Suite 1000, Minneapolis, MN 55402, at 1-800-645-3751, or email


Ares Capital is a leading specialty finance company focused on providing direct loans and other investments to private mid-market companies in the United States. Ares Capital’s goal is to find and invest in high quality borrowers who need capital to achieve their business goals, which often leads to economic growth and jobs. Ares Capital believes that its loans and other investments in these companies can generate attractive levels of current income and potential capital appreciation for investors. Ares Capital, through its investment manager, uses its extensive direct origination capabilities and relationships with legacy borrowers to primarily seek out and underwrite senior secured loans, but also subordinated debt securities and debt securities. equity investments. Ares Capital has elected to be regulated as a Business Development Company (“BDC”) and is the largest publicly traded BDC by market capitalization as of December 31, 2021. Ares Capital is managed externally by a subsidiary of Ares Management Corporation (NYSE: ARES), one of the world’s leading publicly traded alternative investment managers.


Statements included in this document may constitute “forward-looking statements”, which relate to future events or to the future performance or financial condition of Ares Capital. These statements are not guarantees of future performance, conditions or results and involve a number of risks and uncertainties, including the impact of the COVID-19 pandemic and related changes in interest rates from base and significant market volatility on the activities of Ares Capital, the Ares Capital portfolio companies. , Ares Capital’s industry and the global economy. Actual results and conditions may differ materially from forward-looking statements due to a number of factors, including those described from time to time in documents filed by Ares Capital with the Securities and Exchange Commission. Ares Capital does not undertake to update the forward-looking statements contained in this document.


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