Ares Capital will pay down revolvers with new notes issue

By Mary-Katherine Stinson

Lexington, Ky., July 27 – Ares Capital Corp. will use proceeds from a new notes issue to repay outstanding debt under two revolving facilities with $1.9 billion and $850 million outstanding as of July 19, according to a 424B2 filing with the Securities and Exchange Commission.

Proceeds will also be used to repay borrowings on an SMBC funding facility for which there was $401 million outstanding on July 19 and/or a BNP funding facility with $475 million outstanding on July 19.

Ares is a New York specialty finance company.

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