8-K
filed August 1, 2023, 7:59 PM ET
CIK 0001918712
debt
confidence high
sentiment neutral
materiality 0.60
ARES STRATEGIC INCOME FUND: debt financing — Ares Strategic Income Fund enters $500M SG facility, increases credit line to $800M
ARES STRATEGIC INCOME FUND
- SG Funding Facility of $500M (expandable to $750M) with Société Générale; revolving to July 2026, matures July 2028.
- Interest rate: Term SOFR plus margin (1.90% broadly syndicated, 2.80% others; 2.75% floor after 6 months).
- Commitment Increase Agreement with JPMorgan raises multicurrency commitments to $775M, plus $25M dollar commitment, total $800M.
- Unregistered sale of $19.3M of Class I common shares at NAV; proceeds for general corporate purposes.
Key facts
Extracted from this filing and checked against the source text.
Debt Financings
SEC 8-K Item 2.03/2.04
confidence 0.9
ARES STRATEGIC INCOME FUND amended credit facility of from $725.0 million to $775.0 million with JPMorgan Chase Bank, N.A..
- Instrument
- credit facility
- Principal
- from $725.0 million to $775.0 million
- Counterparty
- JPMorgan Chase Bank, N.A.
- Event
- amendment
Exact text from the filing
The Commitment Increase Agreement increased the aggregate amount of the multicurrency commitments under the Credit Facility from $725.0 million to $775.0 million.
View on SEC.gov
Debt Financings
SEC 8-K Item 2.03/2.04
confidence 0.9
ARES STRATEGIC INCOME FUND incurred revolving credit of $500 million with Société Générale maturing July 26, 2028.
- Instrument
- revolving credit
- Principal
- $500 million
- Counterparty
- Société Générale
- Maturity
- July 26, 2028
- Event
- incurrence
Exact text from the filing
On July 26, 2023, Ares Strategic Income Fund (the “Fund”) entered into the Loan and Servicing Agreement (the “SG Funding Facility”), as equityholder and servicer, with ASIF Funding I, LLC, a wholly owned subsidiary of the Fund (the “Borrower”), as borrower, the lenders from time to time parties thereto, Société Générale, as agent, the collateral agent and collateral administrator party thereto, and the document custodian party thereto, that provides a facility amount of $500 million with a revolving period ending July 26, 2026 and a final maturity date of July 26, 2028.
View on SEC.gov
Material Agreements
SEC 8-K Item 1.01/1.02
confidence 0.9
ARES STRATEGIC INCOME FUND amended Commitment Increase Agreement with a certain new lender, and JPMorgan Chase Bank, N.A., as administrative agent valued at $800.0 million (effective 2023-07-31).
- Action
- amendment
- Agreement
- credit facility
- Counterparty
- a certain new lender, and JPMorgan Chase Bank, N.A., as administrative agent
- Value
- $800.0 million
- Effective
- 2023-07-31
Exact text from the filing
On July 31, 2023, the Fund entered into a Commitment Increase Agreement (the “Commitment Increase Agreement”) with a certain new lender, and JPMorgan Chase Bank, N.A., as administrative agent, pursuant to the Fund’s Senior Secured Credit Agreement, dated as of December 20, 2022 (as updated, the “Credit Facility”) among the Fund, the lenders party thereto and JPMorgan Chase Bank, N.A., as administrative agent. The Commitment Increase Agreement increased the aggregate amount of the multicurrency commitments under the Credit Facility from $725.0 million to $775.0 million.
View on SEC.gov
Material Agreements
SEC 8-K Item 1.01/1.02
confidence 0.9
ARES STRATEGIC INCOME FUND entered into Contribution Agreement with ASIF Funding I, LLC (effective 2023-07-26).
- Action
- entry
- Agreement
- asset purchase
- Counterparty
- ASIF Funding I, LLC
- Effective
- 2023-07-26
Exact text from the filing
In addition, on July 26, 2023, the Fund, as transferor, and the the Borrower, as transferee, entered into a Contribution Agreement (the “Contribution Agreement,” and together with the SG Funding Facility, the “Borrower Agreements”), pursuant to which the Fund will transfer to the Borrower certain originated or acquired loans and related assets (collectively, the “Loans”) from time to time.
View on SEC.gov
Material Agreements
SEC 8-K Item 1.01/1.02
confidence 0.9
ARES STRATEGIC INCOME FUND entered into SG Funding Facility with Société Générale, as agent valued at $500 million (effective 2023-07-26).
- Action
- entry
- Agreement
- credit facility
- Counterparty
- Société Générale, as agent
- Value
- $500 million
- Effective
- 2023-07-26
Exact text from the filing
On July 26, 2023, Ares Strategic Income Fund (the “Fund”) entered into the Loan and Servicing Agreement (the “SG Funding Facility”), as equityholder and servicer, with ASIF Funding I, LLC, a wholly owned subsidiary of the Fund (the “Borrower”), as borrower, the lenders from time to time parties thereto, Société Générale, as agent, the collateral agent and collateral administrator party thereto, and the document custodian party thereto, that provides a facility amount of $500 million with a revolving period ending July 26, 2026 and a final maturity date of July 26, 2028.
View on SEC.gov
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