Ares Capital lifts credit facility to $3.96 billion, extends maturity

By Rebecca Melvin

Concord, N.H., April 1 – Ares Capital Corp. increased commitments under an amended and restated senior secured credit facility to about $3.96 billion from about $3.61 billion on Wednesday, according to an 8-K filed with the Securities and Exchange Commission.

In addition, the expiration of the revolving period was extended to March 31, 2025 from March 30, 2024 for lenders of about $3.76 billion, and the stated maturity date was extended to March 31, 2026 from March 30, 2025. Lenders of about $200 million of commitments elected to keep the revolving period expiration date at March 30, 2024 and the stated maturity at March 30, 2025.

The credit facility is composed of a $3.15 billion revolving loan tranche and an $817 million term loan tranche. There is a $2 billion accordion feature.

JPMorgan Chase Bank, NA is the administrative agent of the facility, which is the twelfth amended and restated senior secured credit facility.

Ares is a specialty finance company based in New York.

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