Ares Capital Corp Enters Material Definitive Agreement

TL;DR

ARCC signed a new deal, creating a financial obligation. Details in the filing.

AI Summary

On October 8, 2024, Ares Capital Corporation entered into a material definitive agreement related to a financial obligation. The filing details the creation of a direct financial obligation or an obligation under an off-balance sheet arrangement for the registrant. Specific details regarding the nature and terms of this agreement are provided within the filing.

Why It Matters

This filing indicates a new financial commitment or obligation for Ares Capital Corp, which could impact its financial structure and future operations.

Risk Assessment

Risk Level: medium — Entering into new financial obligations can introduce new risks related to repayment, market conditions, or the underlying business purpose of the obligation.

Key Players & Entities

• Ares Capital Corporation (company) — Registrant
• October 8, 2024 (date) — Date of earliest event reported
• 245 Park Avenue, 44th Floor, New York, NY 10167 (address) — Principal Executive Offices
• 212-750-7300 (phone_number) — Registrant's telephone number

FAQ

Key Financial Figures

• $0.001 — ange on which registered Common stock, $0.001 par value ARCC NASDAQ Global Select Mar
• $1.775 billion — der the Revolving Funding Facility from $1.775 billion to $2.150 billion and (b) extended the
• $2.150 billion — Funding Facility from $1.775 billion to $2.150 billion and (b) extended the end of the reinves

Filing Documents

• arcc-20241008.htm (8-K) — 34KB
• arcccpfundingfacility-amen.htm (EX-10.1) — 849KB
• 0001287750-24-000046.txt ( ) — 1113KB
• arcc-20241008.xsd (EX-101.SCH) — 2KB
• arcc-20241008_lab.xml (EX-101.LAB) — 22KB
• arcc-20241008_pre.xml (EX-101.PRE) — 13KB
• arcc-20241008_htm.xml (XML) — 3KB

01 Entry into a Material Definitive Agreement

Item 1.01 Entry into a Material Definitive Agreement. On October 8, 2024, Ares Capital Corporation (the "Registrant") and Ares Capital CP Funding LLC, a consolidated subsidiary of the Registrant ("Ares Capital CP"), entered into Amendment No. 17 to the Loan and Servicing Agreement (the "Revolving Funding Facility Amendment") to amend the Loan and Servicing Agreement, dated as of January 22, 2010 (the "Revolving Funding Facility") with Wells Fargo Bank, National Association, Bank of America, N.A. and each of the other parties thereto. The Revolving Funding Facility Amendment, among other things, (a) increased the commitments under the Revolving Funding Facility from $1.775 billion to $2.150 billion and (b) extended the end of the reinvestment period from December 29, 2024 to October 8, 2027; (c) extended the stated maturity date from December 29, 2026 to October 8, 2029; and (d) adjusted the interest rate charged on the Revolving Funding Facility from an applicable Secured Overnight Financing Rate ("SOFR") plus a credit spread adjustment of 0.10% or a "base rate" plus an applicable spread of 1.90% per annum to an applicable SOFR or a "base rate" (as defined in the documents governing the Revolving Funding Facility) plus an applicable spread of 2.00% per annum. The other terms of the Revolving Funding Facility remained materially unchanged. Borrowings under the Revolving Funding Facility are subject to the facility's various covenants and the leverage restrictions contained in the Investment Company Act of 1940, as amended. The description above is only a summary of the material provisions of the Revolving Funding Facility Amendment and is qualified in its entirety by reference to a copy of the Revolving Funding Facility Amendment, which is filed as Exhibit 10.1 to this current report on Form 8-K and incorporated by reference herein. Item 2.03 Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of Registrant. The

01 Financial Statements and Exhibits

Item 9.01 Financial Statements and Exhibits. (d) Exhibits: Exhibit Number Description 10.1 Amendment No. 17 to Loan and Servicing Agreement, dated as of October 8, 2024, among Ares Capital CP Funding LLC, as the borrower, Ares Capital Corporation, as the servicer, Wells Fargo Bank, National Association, as the agent, Wells Fargo Bank, National Association, as a lender, Bank of America, N.A, as a lender, Sampension Livsforsikring A/S, as a lender, Arkitekternes Pensionskasse, as a lender, Pensionskassen for Jordbrugsakademikere og Dyrlger, as a lender, Pensionskassen for Teknikum og Diplomingenirer, as a lender, Canadian Imperial Bank of Commerce, as a lender, U.S. Bank Trust Company, National Association, as trustee and U.S. Bank National Association, as bank and collateral custodian. SIGNATURE 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: October 11, 2024 By: /s/ SCOTT C. LEM Name: Scott C. Lem Title: Chief Financial Officer and Treasurer

View Full Filing

View this 8-K filing on SEC EDGAR