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Ares Capital increases revolving credit facility to $3.4 billion, extends to 2024
By Robert S. Johnson
Ares Capital Corp. has increased its revolving credit facility to $3.4 billion from $2.1 billion.
The maturity date was extended to March 30, 2024 from March 30, 2023.
Pricing and advance rates remain unchanged.
The facility was led by JP Morgan, Bank of America Merrill Lynch, SunTrust Robinson Humphrey, BMO Capital Markets, MUFG Bank Ltd. and Sumitomo Mitsui Banking Corp.
The facility now includes a total of 34 bank participants, nine of which are new lenders.
Ares is a New York-based investment company.
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