Loan & DebtJun 8, 2026, 06:06 AM
Ares Capital Establishes $1 Billion Commercial Paper Program
AI Summary
Ares Capital Corporation has established an inaugural $1 billion commercial paper program to issue short-term, unsecured notes. This program is expected to offer cost benefits and will be backed by a $5.5 billion revolving credit facility for liquidity. The net proceeds are intended for general corporate purposes. The notes will have maturities of up to 397 days and will be sold in the U.S. commercial paper market.
Key Highlights
- Ares Capital Corp. established a commercial paper program allowing issuance of up to $1 billion in short-term unsecured notes.
- The program aims to provide cost benefits compared to other funding sources.
- Proceeds from note issuances will be used for general corporate purposes.
- Notes will have maturities of up to 397 days and will be sold under customary terms in the U.S. commercial paper market.
- Ares Capital will use its $5.5 billion Revolving Credit Facility as a liquidity backstop for the program.
Price Impact
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