secwatch.observer — SEC 8-K summary
======================================

Issuer:     ARES CAPITAL CORP (ARCC)
CIK:        0001287750
Form:       8-K
Filed at:   2024-05-31T23:59:59+00:00
Accession:  0001104659-24-067213
Event type: debt
Sentiment:  neutral
Materiality: 0.65
Item codes: 1.01, 2.03, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

- $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.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1287750/000110465924067213/0001104659-24-067213-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1287750/000110465924067213/tm2415797d1_8k.htm
  HTML page:      https://secwatch.observer/filing/0001104659-24-067213

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer