Ares Capital pushes out maturity on $400 million revolver to 2016

By Sara Rosenberg

New York, Jan. 18 - Ares Capital Corp. extended the maturity on its $400 million revolving funding facility to Jan. 18, 2016 from Jan. 22, 2013, according to a news release.

In addition, the facility contains a three year reinvestment period until Jan. 18, 2014 followed by a two year amortization period ending Jan. 18, 2016.

The reinvestment period and final maturity may be extended two times for one year periods.

Pricing on the facility was left unchanged and is based on a pricing grid depending on credit ratings. Current pricing is Libor plus 275 basis points.

Wells Fargo is the lead bank on the deal.

Ares Capital is a New York-based closed-end, non-diversified management investment company.

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