Ares Capital Boosts Commitment Under Revolving Credit Facility To About $3.6 Bln

(RTTNews) - Ares Capital Corp. (ARCC) announced Tuesday that it has increased commitments under its Revolving Credit Facility to approximately $3.6 billion and extended the final maturity date to March 30, 2025.

The Facility was led by JP Morgan, Bank of America, SunTrust Robinson Humphrey, BMO Capital Markets, MUFG Bank, Ltd. and Sumitomo Mitsui Banking Corporation and includes a total of 37 bank participants. Pricing and advance rates remain unchanged on the Facility.

Thus far in 2020, Ares Capital has increased or extended all of its bank led revolving facilities, now totaling more than $5.9 billion, all with pricing and advance rates unchanged. The earliest bank revolving facility maturity is 2024.

In addition, Ares Capital expanded its unsecured funding capacity by issuing a $750 million 3.25% unsecured note offering in February 2020.