Ares Capital increases revolver to $1.53 billion, extends to 2025

By Wendy Van Sickle

Columbus, Ohio, Feb. 3 – Ares Capital CP Funding LLC, a subsidiary of Ares Capital Corp., increased its revolving funding facility led by Wells Fargo Bank NA and Bank of America, NA to $1,525,000,000 from $1,275,000,000, according to an 8-K filing with the Securities and Exchange Commission.

Additionally, Friday’s amendment extended the stated maturity date to Jan. 31, 2025 from Jan. 3, 2024; extended the reinvestment period to Jan. 31, 2023 from Jan. 3, 2022; and modified some loan portfolio concentration limits.

Ares is a New York-based investment company.

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