By Aleesia Forni
Virginia Beach, Jan. 23 – Ares Capital Corp. sold a $200 million add-on to its existing 3.875% senior notes due Jan. 15, 2020 with a spread of 250 basis points over Treasuries, according to an informed source and a 497AD filed with the Securities and Exchange Commission.
The notes (/BBB/BBB) sold in line with talk.
Pricing was at 100.185 to yield 3.831%.
The bookrunners were BofA Merrill Lynch, J.P. Morgan Securities LLC and Wells Fargo Securities LLC.
Proceeds will be used to repay debt and for general corporate purposes.
The original $400 million offering of notes sold with a spread of 235 bps over Treasuries on Nov. 18.
The alternative asset management firm is based in Los Angeles.
| Issuer: | Ares Capital Corp.
|
| Amount: | $200 million
|
| Description: | Add-on to senior notes
|
| Maturity: | Jan. 15, 2020
|
| Bookrunners: | BofA Merrill Lynch, J.P. Morgan Securities LLC, Wells Fargo Securities LLC
|
| Coupon: | 3.875%
|
| Price: | 100.185
|
| Yield: | 3.831%
|
| Spread: | Treasuries plus 250 bps
|
| Make-whole call: | Treasuries plus 35 bps prior to Dec. 15, 2019, then callable at par
|
| Trade date: | Jan. 23
|
| Settlement date: | Jan. 28
|
| Ratings: | Standard & Poor's: BBB
|
| Fitch: BBB
|
| Price talk: | Treasuries plus 250 bps area
|
| Total issue size: | $600 million, including $400 million priced on Nov. 18
|
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