Ares Capital Corporation (Nasdaq: ARCC) announced that it has priced an
underwritten public offering of $125.0 million in aggregate principal
amount of 7.00% senior unsecured notes due 2022. The notes will mature
on February 15, 2022 and may be redeemed in whole or in part at any time
or from time to time at our option on or after February 15, 2015. The
notes will bear interest at a rate of 7.00% per year payable quarterly
on February 15, May 15, August 15 and November 15 of each year, with the
first interest payment occurring on May 15, 2012.
BofA Merrill Lynch, Morgan Stanley, UBS Investment Bank and Wells Fargo
Securities are acting as joint bookrunning managers for this offering.
Stifel Nicolaus Weisel, RBC Capital Markets, BB&T Capital Markets,
Deutsche Bank Securities and Janney Montgomery Scott are acting as
co-managers for this offering. The offering is expected to close on
February 2, 2012, subject to customary closing conditions. Ares Capital
has granted the underwriters an option to purchase up to an additional
$18.75 million in aggregate principal amount of notes to cover
over-allotments, if any.
Ares Capital expects to use the net proceeds of this offering to repay
certain outstanding indebtedness under its debt facilities and, to the
extent not applied for such purposes, for general corporate purposes,
which may include investing in portfolio companies in accordance with
its investment objective.
Investors are advised to carefully consider the investment objective,
risks, charges and expenses of Ares Capital before investing. The
preliminary prospectus supplement dated January 25, 2012 and the
accompanying prospectus dated October 28, 2011, each of which have been
filed with the Securities and Exchange Commission, contain this and
other information about Ares Capital and should be read carefully before
The information in the preliminary prospectus supplement, the
accompanying prospectus and this press release is not complete and may