Highest-materiality recent filing
Ares Capital expands BNP credit facility by $200M to $1.465B, tightens concentration limits
Total commitments under BNP Funding Facility increased from $1.265B to $1.465B via Tenth Amendment.
Ares Capital establishes $1B commercial paper program for short-term unsecured debt
Program allows up to $1B aggregate principal of short-term notes outstanding at any time.
Total commitments increased from approximately $5.312B to $5.481B under the Seventeenth Amended and Restated Senior Secured Credit Agreement.
Ares Capital issues $800M of 5.550% notes due 2030; enters interest rate swap
Issued $800M aggregate principal of 5.550% notes maturing January 15, 2030.
Ares Capital stockholders elect three Class I directors, ratify KPMG as auditor
Ann Torre Bates elected with 227.6M for, 22.9M against, 5.5M abstain; broker non-votes 256.6M.
Ares Capital enters new at-the-market equity distribution agreements for up to $1.5B
Entered equity distribution agreements with Truist, Mizuho, RBC, Regions, and SMBC Nikko to sell up to $1.5B of common stock.
Ares Capital Q1 GAAP EPS $0.13 vs $0.36 YoY; core EPS $0.47; Q2 dividend $0.48
GAAP net income per share $0.13 vs $0.36 YoY; Core EPS $0.47 vs $0.50.
Ares Capital increases SMBC facility to $1.6B, lowers interest spread
Commitments under SMBC funding facility increased from $1.1 billion to $1.6 billion.
Ares Capital Q4 2025 GAAP EPS $0.41, core EPS $0.50; declares Q1 dividend $0.48
GAAP net income $293M ($0.41/sh) in Q4 2025 vs $357M ($0.55/sh) in Q4 2024; core EPS $0.50 vs $0.55.
Ares Capital issues $750M of 5.250% notes due 2031; enters interest rate swap
Issued $750M principal of 5.250% notes due April 12, 2031; interest payable semiannually.
Ares Capital completes $1.0B CLO securitization ADL CLO 7 with notes maturing 2038
$1.0B term debt securitization closed Dec 3, 2025 via wholly owned subsidiary ADL CLO 7.
Ares Capital reports Q3 GAAP net income $0.57/sh, Core EPS $0.50; maintains $0.48 dividend
GAAP net income $404M ($0.57/sh), down from $0.62/sh YoY.
Ares Capital issues $650M in 5.100% notes due 2031 to repay debt
Issued $650M aggregate principal of 5.100% notes maturing Jan 15, 2031; interest payable semiannually Jan 15 and Jul 15 starting 2026.
Ares Capital stockholders authorize issuance of shares below NAV for 12 months
Proposal to sell shares below NAV approved with 286,084,869 FOR and 63,903,043 AGAINST.
Ares Capital Q2 GAAP NI $0.52/sh, Core EPS falls to $0.50; Q3 dividend $0.48
GAAP net income $361M ($0.52/sh) vs $322M ($0.52/sh) YoY; Core EPS $0.50 vs $0.61.
Ares Capital increases revolving credit facility commitments by $100M to $5.493B
Senior secured revolving credit facility expanded from $5.393B to $5.493B on July 2, 2025.
Ares Capital boosts revolver commitments by $110M to $5.393B
Senior secured revolving credit facility increased from $5.283B to $5.393B on June 4, 2025.
ARCC issues $750M of 5.500% notes due 2030, enters interest rate swap
Issued $750M aggregate principal of 5.500% notes due September 1, 2030.
Ares Capital elects three Class III directors, ratifies KPMG as auditor
Daniel G. Kelly, Jr. elected as Class III director with 172.3M votes for, 65.8M against.
Ares Capital Q1 GAAP EPS $0.36, down from $0.76; CEO transition; $0.48 dividend
GAAP net income per share $0.36, down 53% from $0.76 in Q1-24; Core EPS $0.50 vs $0.59.
Ares Capital ups credit facility to $5.3B, extends maturities to 2029/2030
Total commitments increased from ~$4.5B to ~$5.283B; $4.2B revolving and $1.1B term loans.
Ares Capital extends BNP facility maturity to 2030, reduces interest margin 20 bps
Reinvestment period extended to March 20, 2028 (from July 26, 2027).
Ares Capital appoints Kort Schnabel as CEO effective April 30, 2025; Kipp deVeer steps down
Kort Schnabel, age 48, currently Co-President, appointed CEO effective April 30, 2025.
Ares Capital enters $1.5B ATM equity distribution agreements; replaces prior July 2024 facility
Company may sell up to $1.5B of common stock through Truist, Jefferies, Mizuho, RBC and Regions as sales agents.
Ares Capital Q4 GAAP EPS $0.55, down from $0.72; dividend held at $0.48
Q4 GAAP EPS $0.55 vs $0.72; Core EPS $0.55 vs $0.63.
Ares Capital Corporation Issues $1 Billion of 5.800% Notes Due 2032
On January 8, 2025, Ares Capital issued $1,000,000,000 aggregate principal amount of 5.800% notes due March 8, 2032.
Ares Capital extends SMBC credit facility to Dec 2029, cuts interest spread
Reinvestment period extended to Dec 6, 2027 (from Mar 28, 2027); maturity to Dec 6, 2029 (from Mar 28, 2029).
Ares Capital completes $544M CLO securitization through subsidiary ADL CLO 4
$464M Class A Senior Floating Rate Loans at Term SOFR +1.54% issued.
Ares Capital Q3 GAAP EPS $0.62 vs $0.89 YoY, record NAV $19.77, Q4 dividend $0.48
GAAP net income per share $0.62 (down 30% YoY from $0.89); Core EPS $0.58 vs $0.59.
Ares Capital appoints Jim Miller Co-President; Goldstein and Smith become Co-Chairmen
James R. Miller appointed Co-President effective Oct 24, 2024, alongside existing Co-President Kort Schnabel.
ARCC upsizes revolving credit facility to $2.15B, extends maturity to 2029
Commitments increased from $1.775B to $2.150B, a $375M increase.
ARCC stockholders approve issuance of shares below NAV (25% limit) for 12 months
Authorization to sell shares below NAV passes: 238.99M for, 63.1M against, 11.29M abstain.
Ares Capital enters up to $1B ATM equity distribution agreements; terminates prior deals
New equity distribution agreements with Truist, Jefferies, Mizuho, RBC, and Regions effective July 30, 2024.
Ares Capital Q2 GAAP EPS $0.52, Core EPS $0.61; Q3 dividend $0.48
GAAP net income per share $0.52 in Q2 2024, down from $0.61 in Q2 2023.
Ares Capital increases revolving credit facility commitments to $4.513B
Total commitments under senior secured revolving credit facility increased from $4.488B to $4.513B.
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.
Ares Capital announces Investor Day and posts presentation online
Investor Day held May 21, 2024 via live video stream starting at 1:15 p.m. ET.
Re-elected Class II directors Mary Beth Henson, Michael K. Parks, and Michael L. Smith with ~174-175M for votes each.
Ares Capital issues $850M 5.950% notes due 2029, swaps to floating rate
Issued $850M principal of 5.950% notes maturing July 15, 2029; closed May 13, 2024.
Ares Capital reports Q1 GAAP EPS $0.76, Core EPS $0.59; declares $0.48 dividend
GAAP net income $449M ($0.76/share) vs $278M ($0.52) a year ago; Core EPS $0.59 vs $0.57.
Total commitment reduced from ~$4.8B to ~$4.5B; revolving tranche of $3.4B and term loan of $1.1B.
Ares Capital extends SMBC facility maturity to 2029, ups interest spread
Extended reinvestment period from May 2024 to March 2027; maturity from May 2026 to March 2029.
Two directors to leave Ares Capital board; Rosenthal becomes Chairman Emeritus
Robert L. Rosen and Bennett Rosenthal will not stand for re-election at the 2024 Annual Meeting.
Ares Capital files $1B common stock ATM program with 5 agents; prior agreements terminated
Entered equity distribution agreements with Truist, Jefferies, Mizuho, RBC and Regions for up to $1,000,000,000 in common stock.
Ares Capital posts Q4 Core EPS $0.63, FY Core EPS $2.37; declares $0.48 dividend
GAAP net income per share Q4 $0.72 (vs $0.34 YoY); FY 2023 GAAP EPS $2.75 (vs $1.21).
Ares Capital appoints Paul Cho as Chief Accounting Officer effective Feb 15, 2024
Paul Cho, 41, appointed Chief Accounting Officer, effective Feb 15, 2024.
Ares Capital issues $1B of 5.875% notes due 2029; enters interest rate swap
Issued $1,000,000,000 aggregate principal of 5.875% notes due March 1, 2029.
Ares Capital increases BNP Funding Facility commitments by $75M to $865M
Commitments under the BNP Funding Facility increased from $790M to $865M (approx. +9.5%).
Ares Capital issues $300M additional 7.000% notes due 2027; proceeds to repay credit facilities
Issued $300M of 7.000% notes due 2027; net proceeds ~$298.2M after $2.3M in expenses.
Ares Capital appoints Scott Lem as CFO; Penni Roll to step down on Feb 15, 2024
Scott Lem, previously CAO and Treasurer, appointed CFO effective Feb 15, 2024.
appointed Kort Schnabel, age 48, as Chief Executive Officer of Ares Capital, to be effective on April 30, 2025.
R. Kipp deVeer will cease to serve as Chief Executive Officer
the Board increased the size of the Board from nine to ten members and appointed Mitchell Goldstein as an interested Class II director to fill the vacancy created by such increase.
Michael J Arougheti will cease to serve as Chairperson of the Board and will continue to serve as a Class I director of the Board.
Effective October 24, 2024, the Board also designated Mitchell Goldstein and Michael L. Smith to serve as the new Co-Chairpersons of the Board.
Effective October 24, 2024, the Board also designated Mitchell Goldstein and Michael L. Smith to serve as the new Co-Chairpersons of the Board.
Concurrently with James R. Miller’s appointment, Mitchell Goldstein stepped down as Co-President
Effective October 24, 2024, the board of directors (the “Board”) of Ares Capital Corporation (“Ares Capital”) appointed James R. Miller, age 48, as Co-President of Ares Capital alongside current Co-President, Kort Schnabel.
Robert L. Rosen and Bennett Rosenthal each notified Ares Capital Corporation (the “Company”) that they would not stand for re-election as directors of the Company when their respective current terms expire at the Company’s 2024 Annual Meeting of Stockholders (the “Annual Meeting”).
Robert L. Rosen and Bennett Rosenthal each notified Ares Capital Corporation (the “Company”) that they would not stand for re-election as directors of the Company when their respective current terms expire at the Company’s 2024 Annual Meeting of Stockholders (the “Annual Meeting”).
Bennett Rosenthal will step down as Co-Chairman of the Board and will thereafter serve as Chairman Emeritus of the Board and Michael J Arougheti will serve as the sole Chairman of the Board.
Bennett Rosenthal will step down as Co-Chairman of the Board and will thereafter serve as Chairman Emeritus of the Board and Michael J Arougheti will serve as the sole Chairman of the Board.
Max materiality 0.80 · Median 0.57 · Most common event debt