Ares Capital lowers revolver interest rate, extends maturity date

By Marisa Wong

Madison, Wis., Dec. 23 - Ares Capital Corp.'s wholly owned subsidiary, Ares Capital JB Funding LLC, amended its revolving funding facility with Sumitomo Mitsui Banking Corp. to reduce the interest rate to Libor plus 200 basis points from Libor plus 212.5 bps, according to an 8-K filing with the Securities and Exchange Commission.

The company also extended the reinvestment period to Sept. 14, 2016 from Sept. 14, 2015 and the maturity date to Sept. 14, 2021 from Sept. 14, 2020.

The revolver amendment was completed on Dec. 20.

Ares Capital is a specialty finance company based in New York.

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