By Wendy Van Sickle
Columbus, Ohio, May 26 – Ares Capital Corp. priced $500 million of additional 3.25% senior notes due July 15, 2025 (Baa3/BBB-/BBB) on Wednesday at a spread of 125 basis points over Treasuries, according to an FWP filing with the Securities and Exchange Commission.
The notes are an add-on to the $750 million of notes issued by the company on Jan. 15, 2020.
The add-on notes priced at 104.745 to yield 2.023%.
J.P. Morgan Securities LLC was the bookrunner.
The specialty finance company is based in New York.
| Issuer: | Ares Capital Corp.
|
| Amount: | $500 million
|
| Description: | Senior notes add-on
|
| Maturity: | July 15, 2025
|
| Bookrunner: | J.P. Morgan Securities LLC
|
| Coupon: | 3.25%
|
| Price: | 104.745
|
| Yield: | 2.023%
|
| Spread | Treasuries plus 125 bps
|
| Call features: | Make-whole call before June 15, 2025 at Treasuries plus 25 bps; thereafter at par
|
| Change-of-control put: | Par
|
| Trade date: | May 26
|
| Settlement date: | May 28
|
| Ratings: | Moody’s: Baa3
|
| S&P: BBB-
|
| Fitch: BBB
|
| Distribution: | SEC registered
|
| Original issue: | $750 million issued on Jan. 15, 2020
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