Ares Capital Corp Files 8-K on Material Agreement

TL;DR

ARCC filed an 8-K on 4/12 for a material definitive agreement - likely debt related.

AI Summary

On April 12, 2024, Ares Capital Corporation entered into a material definitive agreement related to a direct financial obligation. The company, incorporated in Maryland, filed this 8-K report with the SEC.

Why It Matters

This filing indicates Ares Capital Corporation has entered into a significant financial agreement, which could impact its financial obligations and operational structure.

Risk Assessment

Risk Level: medium — Material definitive agreements can introduce new financial obligations or risks for a company.

Key Numbers

• 814-00663 — SEC File Number (Identifies the specific SEC filing for Ares Capital Corporation.)
• 33-1089684 — IRS Employer Identification No. (Company's tax identification number.)

Key Players & Entities

• Ares Capital Corporation (company) — Registrant
• Maryland (jurisdiction) — State of Incorporation
• April 12, 2024 (date) — Date of earliest event reported
• 245 Park Avenue, 44th Floor, New York, NY 10167 (address) — Principal Executive Offices

FAQ

Key Financial Figures

• $0.001 — ange on which registered Common stock, $0.001 par value ARCC NASDAQ Global Select Mar
• $4.8 billion — A&R Credit Facility from approximately $4.8 billion to approximately $4.5 billion, (b) exte
• $4.5 b — oximately $4.8 billion to approximately $4.5 billion, (b) extended the expiration of t
• $3.0 billion — nts in an amount equal to approximately $3.0 billion from April 19, 2027 to April 12, 2028,
• $1.0 billion — stated maturity date for approximately $1.0 billion of the lenders electing to extend their
• $269 million — nts in an amount equal to approximately $269 million and $107 million will remain subject to
• $107 million — equal to approximately $269 million and $107 million will remain subject to a revolving peri
• $70 m — loan commitments in an amount equal to $70 million, $41 million and $28 million will
• $41 million — ents in an amount equal to $70 million, $41 million and $28 million will remain subject to
• $28 million — t equal to $70 million, $41 million and $28 million will remain subject to a maturity date
• $3.4 billion — ing loan tranche equal to approximately $3.4 billion and a term loan tranche in an amount eq
• $1.1 billion — che in an amount equal to approximately $1.1 billion. The A&R Credit Facility includes an "a
• $2.2 billion — cility by an amount up to approximately $2.2 billion. The A&R Credit Facility continues to

Filing Documents

• arcc-20240412.htm (8-K) — 41KB
• arcc-jpmfacility15thamendm.htm (EX-10.1) — 1407KB
• arcc-bnpfacility7thamendme.htm (EX-10.2) — 101KB
• 0001287750-24-000021.txt ( ) — 1893KB
• arcc-20240412.xsd (EX-101.SCH) — 2KB
• arcc-20240412_lab.xml (EX-101.LAB) — 22KB
• arcc-20240412_pre.xml (EX-101.PRE) — 13KB
• arcc-20240412_htm.xml (XML) — 3KB

01 Entry into a Material Definitive Agreement

Item 1.01 Entry into a Material Definitive Agreement. Amendment to Credit Facility. On April 12, 2024, Ares Capital Corporation (the "Company") amended and restated its senior secured credit facility, among the Company, the lenders party thereto, and JPMorgan Chase Bank, N.A., as the administrative agent (as amended and restated, the "A&R Credit Facility"). The A&R Credit Facility, among other things, (a) reduced the total commitment under the A&R Credit Facility from approximately $4.8 billion to approximately $4.5 billion, (b) extended the expiration of the revolving period for lenders electing to extend their revolving commitments in an amount equal to approximately $3.0 billion from April 19, 2027 to April 12, 2028, during which period the Company, subject to certain conditions, may make borrowings under the A&R Credit Facility, (c) extended the stated maturity date for lenders electing to extend their revolving commitments in an amount equal to approximately $3.0 billion from April 19, 2028 to April 12, 2029 and (d) extended the stated maturity date for approximately $1.0 billion of the lenders electing to extend their term loan commitments from April 19, 2028 to April 12, 2029. Lenders who elected not to extend their revolving commitments in an amount equal to approximately $269 million and $107 million will remain subject to a revolving period expiration of March 31, 2026 and March 31, 2025, respectively, and a stated maturity date of March 31, 2027 and March 31, 2026, respectively. Lenders who elected not to extend their term loan commitments in an amount equal to $70 million, $41 million and $28 million will remain subject to a maturity date of April 19, 2028, March 31, 2027 and March 31, 2026, respectively. The A&R Credit Facility is composed of a revolving loan tranche equal to approximately $3.4 billion and a term loan tranche in an amount equal to approximately $1.1 billion. The A&R Credit Facility includes an "accordion" feature that allows the C

01 Financial Statements and Exhibits

Item 9.01 Financial Statements and Exhibits. (d) Exhibits: Exhibit Number Description 10.1 Fifteenth Amended and Restated Senior Secured Credit Agreement, dated as of April 12, 2024, among Ares Capital Corporation, the lenders party thereto, and JPMorgan Chase Bank, N.A., as administrative agent. 10. 2 Seventh Amendment to the Revolving Credit and Security Agreement, dated as of April 12, 2024, among ARCC FB Funding LLC, as borrower, the lenders from time to time parties thereto, BNP Paribas, as administrative agent and lender, Ares Capital Corporation, as equityholder and servicer, and U.S. Bank National Association, as collateral agent.

SIGNATURES

SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. ARES CAPITAL CORPORATION Date: April 17, 2024 By: /s/ Scott C. Lem Name: Scott C. Lem Title: Chief Financial Officer

View Full Filing

View this 8-K filing on SEC EDGAR