Ares Capital Corp.'s $850 Million Senior Unsecured Notes Due 2029 Rated 'BBB-'

NEW YORK (S&P Global Ratings) May 6, 2024--S&P Global Ratings today assigned its 'BBB-' debt rating to Ares Capital Corporation's (ARCC) $850 million of unsecured notes due 2029. ARCC expects to use the net proceeds of this offering to repay a portion of outstanding indebtedness under the revolving credit facility ($1.1 billion aggregate principal amount outstanding as of April 24, 2024), the revolving funding facility ($801 million aggregate principal amount outstanding as of April 24, 2024), the SMBC funding facility ($366 million aggregate principal amount outstanding as of April 24, 2024) and/or the BNP funding facility ($575 million aggregate principal amount outstanding as of April 24, 2024). As of March 31, 2024, ARCC's total indebtedness was approximately $11.8 billion, down

...May 6, 2024 NEW YORK (S&P Global Ratings) May 6, 2024--S&P Global Ratings today assigned its '###-' debt rating to Ares Capital Corporation's (ARCC) $850 million of unsecured notes due 2029. ARCC expects to use the net proceeds of this offering to repay a portion of outstanding indebtedness under the revolving credit facility ($1.1 billion aggregate principal amount outstanding as of April 24, 2024), the revolving funding facility ($801 million aggregate principal amount outstanding as of April 24, 2024), the SMBC funding facility ($366 million aggregate principal amount outstanding as of April 24, 2024) and/or the BNP funding facility ($575 million aggregate principal amount outstanding as of April 24, 2024). As of March 31, 2024, ARCC's total indebtedness was approximately $11.8 billion, down from $11.9 billion at year-end 2023. The company also raised approximately $52.8 million in equity from April 1, 2024, through May 6, 2024. Assuming no equity growth from quarter-end March 31, 2024,...

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