Ares Management amends credit facility: maturity extended to 2029, revolver raised to $1.4B

Ares Management Corp

Maturity of $1.4B revolver extended to March 28, 2029; accordion increased to $600M for aggregate capacity up to $2.0B.
Sustainability-linked metrics modified for unused commitment fee and applicable margin adjustments.
Certain covenant restrictions and technical provisions amended as part of Amendment No. 12.
Borrower is Ares Holdings L.P.; JPMorgan Chase Bank, N.A. remains agent; multiple lenders party.
Amendment effective March 28, 2024; conditions precedent satisfied including lender approvals.

Key facts

Extracted from this filing and checked against the source text.

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

Ares Management Corp amended Amendment No. 12 with JPMorgan Chase Bank, N.A. (as agent) and the lenders party thereto valued at $1,400,000,000 (effective 2024-03-28).

Action: amendment
Agreement: credit facility
Counterparty: JPMorgan Chase Bank, N.A. (as agent) and the lenders party thereto
Value: $1,400,000,000
Effective: 2024-03-28

Exact text from the filing

On March 28, 2024, Ares Holdings L.P., a Delaware limited partnership (“Ares Holdings” or the “Borrower”) and certain subsidiaries of Ares Management Corporation (the “Company”) entered into Amendment No. 12 (the “Credit Facility Amendment”) to the Sixth Amended and Restated Credit Agreement, dated as of April 21, 2014 (as amended through and including the Credit Facility Amendment, the “Credit Agreement”), by and among the Borrower, the guarantors party thereto, the lenders party thereto and JPMorgan Chase Bank, N.A., as agent.

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Source: SEC EDGAR

accession 0001628280-24-014594

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