Ares Capital increases BNP Funding Facility by $200M to $500M; adjusts interest rate margins

ARES CAPITAL CORP

Commitments under BNP Funding Facility increased by $200M from $300M to $500M.
Interest rate switched from LIBOR+1.80%/2.30% to SOFR+2.30%/2.80% based on reinvestment period.
Amendment executed on January 9, 2023; other terms materially unchanged.
Facility is uncommitted; advances are at lenders' discretion.

Key facts

Extracted from this filing and checked against the source text.

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

ARES CAPITAL CORP amended Fourth Amendment to the Revolving Credit and Security Agreement valued at $500 million (effective 2023-01-09).

Action: amendment
Agreement: credit facility
Value: $500 million
Effective: 2023-01-09

Exact text from the filing

On January 9, 2023, Ares Capital Corporation (the “Company”) and ARCC FB Funding LLC, a wholly owned subsidiary of the Company, amended the document governing its revolving funding facility (the "BNP Funding Facility") by entering into a Fourth Amendment to the Revolving Credit and Security Agreement (the “Amendment”).

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Source: SEC EDGAR

accession 0001104659-23-003069

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