Ares Capital Corp Enters New Credit Facility

TL;DR

ARCC just inked a new credit line, boosting their war chest for deals.

AI Summary

On December 6, 2024, Ares Capital Corporation entered into a material definitive agreement, specifically a revolving credit facility. This agreement creates a direct financial obligation for the registrant. The filing details the terms and conditions of this new credit facility.

Why It Matters

This new credit facility provides Ares Capital with additional financial flexibility and resources, potentially impacting its ability to fund new investments and manage its existing portfolio.

Risk Assessment

Risk Level: low — The filing reports on a standard financing agreement, which is a routine operational event for a company like Ares Capital.

Key Players & Entities

• Ares Capital Corporation (company) — Registrant
• December 6, 2024 (date) — Date of earliest event reported
• 245 Park Avenue, 44th Floor, New York, NY 10167 (location) — 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

Filing Documents

• arcc-20241206.htm (8-K) — 34KB
• arccsmbcamendmentno11-ex101.htm (EX-10.1) — 153KB
• 0001287750-24-000059.txt ( ) — 329KB
• arcc-20241206.xsd (EX-101.SCH) — 2KB
• arcc-20241206_lab.xml (EX-101.LAB) — 22KB
• arcc-20241206_pre.xml (EX-101.PRE) — 13KB
• arcc-20241206_htm.xml (XML) — 3KB

01 Entry into a Material Definitive Agreement

Item 1.01 Entry into a Material Definitive Agreement. On December 6, 2024, Ares Capital Corporation (the "Registrant") and Ares Capital JB Funding LLC, a wholly owned subsidiary of the Registrant ("ACJB LLC"), entered into Amendment No. 11 (the "SMBC Funding Facility Amendment") to amend the Loan and Servicing Agreement, dated as of January 20, 2012, as amended (the "SMBC Funding Facility"), with Sumitomo Mitsui Banking Corporation and each of the other parties thereto. The SMBC Funding Facility Amendment, among other things, (a) extended the reinvestment period from March 28, 2027 to December 6, 2027; (b) extended the stated maturity date from March 28, 2029 to December 6, 2029 and (c) adjusted the interest rate charged on the SMBC Funding Facility from an applicable spread of either (i) 2.50% over one month SOFR or (ii) 1.50% over a "base rate" to an applicable spread of either (x) 2.00% over one month SOFR or (y) 1.00% over a "base rate" (as defined in the documents governing the SMBC Funding Facility). The other terms of the SMBC Funding Facility remained materially unchanged. Borrowings under the SMBC 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 SMBC Funding Facility Amendment and is qualified in its entirety by reference to a copy of the SMBC 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 information contained in Item 1.01 to this current report on Form 8-K is by this reference incorporated in this Item 2.03.

01 Financial Statements and Exhibits

Item 9.01 Financial Statements and Exhibits. (d) Exhibits: Exhibit Number Description 10.1 Amendment No. 11, dated as of December 6, 2024, among Ares Capital JB Funding LLC, as borrower, Ares Capital Corporation, as servicer and transferor, Sumitomo Mitsui Banking Corporation, as administrative agent, lender and collateral agent, Citizens Bank, N.A., as lender, and Sumitomo Mitsui Trust Bank, Limited, New York Branch, as lender (amending the Loan and Servicing Agreement, dated as of January 20, 2012). 104 Cover Page Interactive Data File (embedded within the Inline XBRL document)

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: December 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