Ares Capital Corp. Proposed $600 Million Senior Unsecured Notes Due 2030 Rated 'BBB'

NEW YORK (S&P Global Ratings) May 27, 2025--S&P Global Ratings today said it assigned its 'BBB' debt rating to Ares Capital Corp.'s (ARCC) proposed $600 million of senior unsecured notes due 2030. ARCC expects to use the net proceeds of this offering to repay a portion of outstanding indebtedness under: Its revolving credit facility (about $1.2 billion aggregate principal amount outstanding as of May 16, 2025), Its revolving funding facility ($1 billion aggregate principal amount outstanding as of May 16, 2025), Its SMBC funding facility ($490 million aggregate principal amount outstanding as of May 16, 2025), or Its BNP funding facility ($795 million aggregate principal amount outstanding as of May 16, 2025). As of May 16, 2025, ARCC's total indebtedness

...May 27, 2025 NEW YORK (S&P Global Ratings) May 27, 2025--S&P Global Ratings today said it assigned its '###' debt rating to Ares Capital Corp.'s (ARCC) proposed $600 million of senior unsecured notes due 2030. ARCC expects to use the net proceeds of this offering to repay a portion of outstanding indebtedness under: - Its revolving credit facility (about $1.2 billion aggregate principal amount outstanding as of May 16, 2025), - Its revolving funding facility ($1 billion aggregate principal amount outstanding as of May 16, 2025), - Its SMBC funding facility ($490 million aggregate principal amount outstanding as of May 16, 2025), or - Its BNP funding facility ($795 million aggregate principal amount outstanding as of May 16, 2025). As of May 16, 2025, ARCC's total indebtedness was approximately $14.1 billion--roughly 68% of which was unsecured, above the 60% average for publicly traded business development company (BDC) peers. The company also raised approximately $120.3 million in equity...

Ratings Action