ARES CAPITAL CORP 8-K
Debt financing
Unsecured 2033 notes are earmarked for credit-facility repayment; a swap converts their fixed coupon to floating-rate payments.
Filed 2026-09-15 16:05 ET
- 1.01 Entry into a Material Agreement
- 2.03 Creation of a Financial Obligation
- 8.01 Other Events
- 9.01 Financial Statements and Exhibits
Summary
A $750M unsecured note issuance and interest rate swap. Ares Capital issued the notes on 9/15/2026 and expects to use the net proceeds to repay credit-facility borrowings; it may reborrow under those facilities for general corporate purposes, including portfolio investments. The swap converts the notes’ fixed-rate interest to floating-rate payments.
Key Figures
- Notes: $750M aggregate principal, 6.250% coupon, due 9/15/2033; interest payable semiannually beginning 3/15/2027. Direct unsecured obligations, redeemable at the company’s option under the indenture’s terms.
- Interest rate swap: $750M notional, due 9/15/2033; Ares receives fixed interest at 6.250% and pays floating interest at three-month SOFR + 1.85250%.
- A change-of-control repurchase event requires an offer to buy the notes at 100% of principal plus accrued and unpaid interest if a change of control occurs alongside below-investment-grade ratings from all three named rating agencies.
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