Ares Capital amends, revising reinvestment period, maturity, spread

By Sara Rosenberg

New York, Jan. 19 - Ares Capital Corp. amended its $500 million revolving funding facility, extending the reinvestment period by one year to Jan. 18, 2015 and its final maturity to Jan. 18, 2017, according to an 8-K filed with the Securities and Exchange Commission on Thursday.

Also, pricing on the facility was reduced to Libor plus 250 basis points from Libor plus 275 bps, and the pricing grid, which ranged from Libor plus 225 bps to 375 bps, was removed.

The amendment was completed on Jan. 18.

Wells Fargo Securities LLC is the agent on the deal.

Ares is a New York-based specialty finance company that provides one-stop financing services to U.S. middle-market companies and private equity sponsors.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.