Ares Capital considers redeeming $161.2 million of 6% notes due 2012

By Toni Weeks

San Diego, March 22 - Ares Capital Corp. is considering the redemption of some or all of its $161.2 million of 6% notes due April 1, 2012, according to a press release.

The redemption would be funded with the company's planned offering of $200 million of convertible senior notes due 2016.

Other uses for the proceeds include repaying or repurchasing debt under the company's revolving credit facilities and funding investments in the company's investment backlog and pipeline.

The finance company is based in New York.

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