Ares Capital will repay outstanding bank debt with new notes

Chicago, Oct. 28 – Ares Capital Corp. said that it would use new notes to repay some bank loan debt, according to a 424B2 filing with the Securities and Exchange Commission.

The company plans to repay a revolving credit facility with a current balance of $874 million, a $763 million outstanding revolving funding facility, the $90 million outstanding SMBC funding facility and potentially the BNP funding facility if there are any amounts outstanding.

The company may reborrow under the credit facilities for general corporate purposes.

Ares is a New York specialty finance company.

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