Loan & DebtMay 26, 2026, 06:51 AM
Ares Capital Amends Credit Facility, Increases to $5.481B, Extends Maturity
AI Summary
Ares Capital Corporation amended and restated its senior secured credit facility, increasing total commitments from approximately $5.312 billion to $5.481 billion. The amendment also extended the revolving period and stated maturity dates for a significant portion of the facility, enhancing the company's financial flexibility. Additionally, the base interest rate for USD loans was adjusted, and certain covenant restrictions were modified, with an accordion feature allowing for further expansion of up to $2.7 billion.
Key Highlights
- Total commitments increased from $5.312 billion to $5.481 billion.
- Revolving period for $4.2 billion extended from April 15, 2029 to May 21, 2030.
- Stated maturity for $4.2 billion revolving commitments extended from April 15, 2030 to May 21, 2031.
- Stated maturity for $1.0 billion term loan commitments extended from April 15, 2030 to May 21, 2031.
- Base interest rate for USD loans changed from Term SOFR + 0.10% to Term SOFR.
- Applicable spreads for Extending Lenders range from 1.525% to 1.775% (Term SOFR).
- Commitment fees are 0.325% for Extending Lenders and 0.375% for Other Lenders.
- Accordion feature allows increasing facility size by up to $2.7 billion.
Price Impact
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