Ares Capital increases revolving loan facility to $1.28 billion

By Rebecca Melvin

New York, June 19 – Ares Capital CP Funding LLC, a subsidiary of Ares Capital Corp., increased its revolving funding facility led by Wells Fargo Bank NA, Bank of America NA and Bank of America to $1,275,000,000 from $1 billion, according to an 8-K filing with the Securities and Exchange Commission.

The reinvestment period and maturity date will remain unchanged at Jan. 3, 2022 and Jan. 3, 2024, respectively.

Borrowings will continue to bear interest at a rate of Libor plus 200 basis points.

Ares is a New York-based investment company.

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