---
schema_version: "secwatch.filing_event.v1"
accession: "0001287750-23-000025"
form_type: "8-K"
ticker: "ARCC"
cik: "0001287750"
company_name: "ARES CAPITAL CORP"
filed_at: "2023-05-04T23:59:59+00:00"
generated_at: "2026-06-15T20:53:24.775646+00:00"
event_type: "debt"
sentiment: "neutral"
materiality_score: 0.25
calibrated_materiality_score: 0.25
confidence: "high"
source: SEC EDGAR
---

# Ares Capital amends SMBC funding facility to transition from LIBOR to SOFR rate

## Summary
- Amendment converts interest rate from LIBOR to SOFR plus 0.10% credit spread adjustment.
- Spread unchanged at 1.75%-2.00% over SOFR or 0.75%-1.00% over base rate.
- Facility size remains $1B; no change to borrowing base or covenants.
- Amendment executed April 28, 2023; parties include SMBC, Citizens Bank, SuMi Trust.
- Facility governed by existing covenants and Investment Company Act leverage restrictions.

## SEC filing metadata
- accession: 0001287750-23-000025
- form_type: 8-K
- ticker: ARCC
- cik: 0001287750
- company_name: ARES CAPITAL CORP
- filed_at: 2023-05-04T23:59:59+00:00
- event_type: debt
- sentiment: neutral
- materiality_score: 0.25
- calibrated_materiality_score: 0.25
- confidence: high
- sec_items: 1.01, 2.03, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1287750/000128775023000025/0001287750-23-000025-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1287750/000128775023000025/arcc-20230504.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001287750-23-000025
- JSON: https://secwatch.observer/filing/0001287750-23-000025.json
- Plain text: https://secwatch.observer/filing/0001287750-23-000025.txt

## Key facts
- Debt Financings
  ARES CAPITAL CORP amended revolving credit with Sumitomo Mitsui Banking Corporation at an applicable spread of either (x) 1.75% or 2.00% over one month SOFR plus a cre.
  - Instrument: revolving credit
  - Counterparty: Sumitomo Mitsui Banking Corporation
  - Rate: an applicable spread of either (x) 1.75% or 2.00% over one month SOFR plus a cre
  - Event: amendment
  source text: transitioned the interest rate based on the London Interbank Offered Rate ("LIBOR") and related LIBOR-based mechanics applicable to borrowings under the SMBC Funding Facility to an interest rate based on the Secured Overnight Financing Rate ("SOFR") and related SOFR-based mechanics; and (b) adjusted the interest rate charged on the SMBC Funding Facility from an applicable spread of either (i) 1.75% or 2.00% over one month LIBOR, or (ii) 0.75% or 1.00% over a "base rate" (as defined in the agreements governing the SMBC Funding Facility) to an applicable spread of either (x) 1.75% or 2.00% over one month SOFR plus a credit spread adjustment of 0.10%, or (y) 0.75% or 1.00% over a "base rate" (as defined in the agreements governing the SMBC Funding Facility)
  evidence_url: https://www.sec.gov/Archives/edgar/data/1287750/000128775023000025/0001287750-23-000025-index.htm
- Material Agreements
  ARES CAPITAL CORP amended SMBC Amendment with Sumitomo Mitsui Banking Corporation and each of the other parties thereto (effective 2023-04-28).
  - Action: amendment
  - Agreement: credit facility
  - Counterparty: Sumitomo Mitsui Banking Corporation and each of the other parties thereto
  - Effective: 2023-04-28
  source text: On April 28, 2023, Ares Capital Corporation (the “Registrant”) and Ares Capital JB Funding LLC, a wholly owned subsidiary of the Registrant (“ACJB LLC”), entered into an amendment (the “SMBC Amendment”) to the documents governing ACJB LLC’s revolving funding facility (the “SMBC Funding Facility”) with Sumitomo Mitsui Banking Corporation and each of the other parties thereto.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1287750/000128775023000025/0001287750-23-000025-index.htm

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