Ares Capital enters uncommitted LC facility with Deutsche Bank on May 11, 2023

ARES CAPITAL CORP

Facility enables Deutsche Bank to issue standby letters of credit or demand guarantees at its sole discretion.
Ares may terminate the facility with written notice; Deutsche Bank may terminate with 30 days' notice.
The facility is secured on a pari passu basis with Ares' existing senior secured revolving credit facility.
No maximum commitment amount is specified since the facility is uncommitted.
The agreement is governed by customary terms including reimbursement, fees, and indemnification provisions.

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 entered into Uncommitted Continuing Agreement for Standby Letters of Credit and Demand Guarantees with Deutsche Bank AG New York Branch (effective 2023-05-11).

Action: entry
Agreement: credit facility
Counterparty: Deutsche Bank AG New York Branch
Effective: 2023-05-11

Exact text from the filing

On May 11, 2023, Ares Capital Corporation (the “Company”) entered into an Uncommitted Continuing Agreement for Standby Letters of Credit and Demand Guarantees (the “2023 Uncommitted LC Facility”) with Deutsche Bank AG New York Branch (the “Issuer”)

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Source: SEC EDGAR

accession 0001104659-23-061866

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