secwatch.observer — SEC 8-K summary
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Issuer:     ARES CAPITAL CORP (ARCC)
CIK:        0001287750
Form:       8-K
Filed at:   2024-04-17T23:59:59+00:00
Accession:  0001287750-24-000021
Event type: debt
Sentiment:  positive
Materiality: 0.70
Item codes: 1.01, 2.03, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Ares Capital amends credit facility: commitment cut to $4.5B, maturities extended to 2029, BNP margin reduced
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- Total commitment reduced from ~$4.8B to ~$4.5B; revolving tranche of $3.4B and term loan of $1.1B.
- Revolving period extended to April 2028 and maturity to April 2029 for ~$3.0B of commitments.
- Term loan maturity extended to April 2029 for ~$1.0B; accordion feature allows up to ~$2.2B increase.
- BNP Funding Facility margin cut from 2.65%/3.15% to 2.50%/3.00% during/after reinvestment period.
- Non-extending lenders retain earlier maturities ($269M revolving, $70M term loan).

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1287750/000128775024000021/0001287750-24-000021-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1287750/000128775024000021/arcc-20240412.htm
  HTML page:      https://secwatch.observer/filing/0001287750-24-000021

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