Ares Capital completes $701.6M CLO securitization with $476M senior notes and $225.6M sub notes

ARES CAPITAL CORP

$701.6M CLO (ARCC CLO 1 LLC) closed May 24, 2024, backed by senior secured and second lien loans.
$406M Class A senior floating rate notes at SOFR+1.80%, $70M Class B notes at SOFR+2.20% issued to third parties.
$225.6M Subordinated Notes (no interest) acquired by Ares Capital; unsecured obligations.
Net proceeds to repay outstanding debt; may reborrow for portfolio company investments.
Ares Capital Management is asset manager, waives management fees on sub notes held by company.

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