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Ares Capital cuts pricing on revolving facility to Libor plus 225 bps
By Susanna Moon
Chicago, Jan. 28 - Ares Capital Corp. reduced pricing on its revolving funding facility to Libor plus 225 basis points, as of last Friday.
The spread over Libor ranges from 225 bps to 250 bps, based on the composition of the borrowing base relative to outstanding debt under the facility.
The company amended the terms of the revolver last Friday with Wells Fargo Securities, LLC, according to an 8-K filing with the Securities and Exchange Commission.
Interest was lowered from Libor plus 250 bps.
As of Jan. 25, one-month Libor was 0.2037%.
Ares Capital is a specialty finance company based in Los Angeles.
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