---
schema_version: "secwatch.filing_event.v1"
accession: "0001104659-24-060586"
form_type: "8-K"
ticker: "ARCC"
cik: "0001287750"
company_name: "ARES CAPITAL CORP"
filed_at: "2024-05-13T23:59:59+00:00"
generated_at: "2026-06-02T01:59:18.469500+00:00"
event_type: "debt"
sentiment: "neutral"
materiality_score: 0.65
calibrated_materiality_score: 0.65
confidence: "high"
source: SEC EDGAR
---

# Ares Capital issues $850M 5.950% notes due 2029, swaps to floating rate

## Summary
- Issued $850M principal of 5.950% notes maturing July 15, 2029; closed May 13, 2024.
- Net proceeds used to repay outstanding debt facilities; may reborrow for portfolio investments.
- Entered interest rate swap with Wells Fargo: receives 5.950% fixed, pays 1-month SOFR+1.643% on same $850M notional.
- Swap expires July 15, 2029, matching note maturity; converts fixed-rate debt to floating-rate exposure.
- Notes are unsecured; change of control repurchase trigger at 100% if downgraded below investment grade.

## SEC filing metadata
- accession: 0001104659-24-060586
- form_type: 8-K
- ticker: ARCC
- cik: 0001287750
- company_name: ARES CAPITAL CORP
- filed_at: 2024-05-13T23:59:59+00:00
- event_type: debt
- sentiment: neutral
- materiality_score: 0.65
- calibrated_materiality_score: 0.65
- confidence: high
- sec_items: 1.01, 2.03, 8.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1287750/000110465924060586/0001104659-24-060586-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1287750/000110465924060586/tm2414194d1_8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001104659-24-060586
- JSON: https://secwatch.observer/filing/0001104659-24-060586.json
- Plain text: https://secwatch.observer/filing/0001104659-24-060586.txt

## Key facts
- Debt Financings
  ARES CAPITAL CORP incurred senior notes of $850,000,000 aggregate principal amount with U.S. Bank Trust Company, National Association at 5.950% per year maturing July 15, 2029.
  - Instrument: senior notes
  - Principal: $850,000,000 aggregate principal amount
  - Counterparty: U.S. Bank Trust Company, National Association
  - Rate: 5.950% per year
  - Maturity: July 15, 2029
  - Event: incurrence
  source text: The First Supplemental Indenture relates to the Company’s issuance, offer and sale of $850,000,000 aggregate principal amount of its 5.950% notes due 2029 (the “Notes”).
  evidence_url: https://www.sec.gov/Archives/edgar/data/1287750/000110465924060586/0001104659-24-060586-index.htm
- Material Agreements
  ARES CAPITAL CORP entered into Indenture (Base Indenture and First Supplemental Indenture) with U.S. Bank Trust Company, National Association valued at $850,000,000 (effective 2024-05-13).
  - Action: entry
  - Agreement: notes offering
  - Counterparty: U.S. Bank Trust Company, National Association
  - Value: $850,000,000
  - Effective: 2024-05-13
  source text: On May 13, 2024, Ares Capital Corporation (the “Company”) and U.S. Bank Trust Company, National Association (the “Trustee”), entered into an Indenture, dated May 13, 2024, between the Company and the Trustee (the “Base Indenture”) and a First Supplemental Indenture, dated May 13, 2024, between the Company and the Trustee (the “First Supplemental Indenture” and, together with the “Base Indenture,” the “Indenture”).
  evidence_url: https://www.sec.gov/Archives/edgar/data/1287750/000110465924060586/0001104659-24-060586-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.