Loan & DebtMay 11, 2026, 04:14 PM
Ares Capital Issues $800M 5.550% Notes Due 2030
AI Summary
Ares Capital Corporation issued $800 million aggregate principal amount of 5.550% notes due 2030. These notes mature on January 15, 2030, and will pay interest semi-annually. The company plans to use the net proceeds to repay existing indebtedness under its credit facilities. Additionally, Ares Capital entered into an interest rate swap for the full notional amount to convert the fixed rate interest to a floating rate based on one-month SOFR.
Key Highlights
- Issued $800,000,000 aggregate principal amount of 5.550% notes due 2030.
- Notes mature on January 15, 2030.
- Interest rate is 5.550% per year, payable semi-annually on January 15 and July 15.
- Net proceeds will be used to repay outstanding indebtedness under credit facilities.
- Entered into an interest rate swap for $800,000,000 notional amount.
- Swap converts fixed rate 5.550% to floating rate (one-month SOFR + 1.69950%).
Price Impact
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