Ares Capital extends revolving funding facility via Sumitomo

By Marisa Wong

Morgantown, W.Va., Aug. 28 – Ares Capital Corp. entered into an amendment to its revolving funding facility with Sumitomo Mitsui Banking Corp. on Aug. 24, according to an 8-K filed Monday with the Securities and Exchange Commission.

The amendment, among other things, extends the reinvestment period to Sept. 14, 2018 from Sept. 14, 2017; extends the stated maturity date to Sept. 14, 2023 from Sept. 14, 2022; and adjusts the borrowing threshold on which the applicable interest rate spreads are based to $175 million from $100 million.

The specialty finance company is based in New York.

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