New Issue: Ares Management prices $500 million 6.375% senior notes due 2028

By Wendy Van Sickle

Columbus, Ohio, Nov. 7 – Ares Management Corp. announced the pricing of $500 million of 6.375% senior notes due 2028, according to a press release on Tuesday.

The notes will be guaranteed by Ares Holdings LP, Ares Investments Holdings LLC, Ares Management LLC, Ares Finance Co. LLC, Ares Finance Co. II LLC, Ares Finance Co. III LLC and Ares Finance Co. IV LLC.

BofA Securities, Inc., Morgan Stanley & Co. LLC, SMBC Nikko Securities America, Inc. and Wells Fargo Securities, LLC are joint bookrunners.

Proceeds will be used for general corporate purposes, including to repay debt and to fund growth initiatives.

Ares is a Los Angeles-based asset management firm.

Issuer:	Ares Management Corp.
Guarantors:	Ares Holdings LP, Ares Investments Holdings LLC, Ares Management LLC, Ares Finance Co. LLC, Ares Finance Co. II LLC, Ares Finance Co. III LLC and Ares Finance Co. IV LLC
Amount:	$500 million
Issue:	Senior notes
Maturity:	2028
Bookrunners:	BofA Securities, Inc., Morgan Stanley & Co. LLC, SMBC Nikko Securities America, Inc. and Wells Fargo Securities, LLC
Senior co-managers:	Citigroup Global Markets Inc., Deutsche Bank Securities Inc. and MUFG Securities Americas Inc.
Co-managers:	Academy Securities, Inc., Loop Capital Markets LLC, R. Seelaus & Co., LLC, Samuel A. Ramirez & Co., Inc. and Siebert Williams Shank & Co., LLC
Trustee:	U.S. Bank Trust Co., NA
Counsel to issuer:	Kirkland & Ellis LLP
Counsel to underwriters:	Latham & Watkins LLP
Coupon:	6.375%
Pricing date:	Nov. 7
Settlement date:	Nov. 10

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.