Ares Capital intends to sell seven-year notes talked at Treasuries plus 190 bps area

By Devika Patel and Cristal Cody

Knoxville, Tenn., June 3 – Ares Capital Corp. plans to sell notes due June 15, 2028 with initial price talk in the 190 basis points area over Treasuries, according to a market source.

The notes feature a make-whole call and then a par call.

BofA Securities Inc., J.P. Morgan Securities LLC, SMBC Nikko Securities America Inc. and Wells Fargo Securities LLC are the bookrunners.

Proceeds will be used to repay debt under the company’s revolving credit facility, its revolving funding facility, its SMBC funding facility and/or its BNP funding facility, according to a 424B2 filed with the Securities and Exchange Commission.

Ares is a New York specialty finance company.

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