secwatch.observer — SEC 8-K summary
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Issuer:     ARES CAPITAL CORP (ARCC)
CIK:        0001287750
Form:       8-K
Filed at:   2024-05-13T23:59:59+00:00
Accession:  0001104659-24-060586
Event type: debt
Sentiment:  neutral
Materiality: 0.65
Item codes: 1.01, 2.03, 8.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1287750/000110465924060586/0001104659-24-060586-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1287750/000110465924060586/tm2414194d1_8k.htm
  HTML page:      https://secwatch.observer/filing/0001104659-24-060586

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