Ares Capital gets new $15 million revolver commitment

By Sara Rosenberg

New York, Jan. 26 - Ares Capital Corp. received a new $15 million commitment, increasing its existing revolving credit facility to $525 million from $510 million, according to a news release.

The new commitment came from City National Bank.

The increase was done on the revolver's accordion feature, which allows for a total facility size of $765 million.

Proceeds from the increase will be used to provide additional capital for growth and support of Ares' existing portfolio companies.

Ares is a Los Angeles-based specialty finance company.

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