Ares Capital subsidiary completes $708.7M CLO refinancing, extends maturity to 2038

ARES CAPITAL CORP

ADL CLO 1 issued $267M Class A-1-R notes at SOFR+1.46%, $24.5M Class A-2-R at SOFR+1.70%, $45.5M Class B-R at SOFR+1.90%.
Also incurred $139M Class A-1-LR term loans at SOFR+1.46%, maturing July 2038.
Proceeds used to redeem $406M Class A and $70M Class B notes due 2036, plus fees.
Company retained all subordinated notes ($225.6M existing + $7.1M new), eliminated on consolidation.
Secured notes backed by first lien senior secured loan portfolio; asset manager waived management fees.

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