Ares Capital prices $650 million bond offering at 5.100% due 2031

Ares Capital Corporation (NASDAQ: ARCC) priced an underwritten public offering of $650 million in aggregate principal amount of 5.100% unsecured notes due 2031, according to a press release statement.

The notes will mature on January 15, 2031 and may be redeemed in whole or in part at the company's option at any time at par plus a make-whole premium, if applicable. The offering is expected to close on September 9, 2025, subject to customary closing conditions.

BofA Securities, J.P. Morgan Securities, RBC Capital Markets, SMBC Nikko Securities America, and Wells Fargo Securities are serving as joint book-running managers for the offering. Additional banks including HSBC Securities, Morgan Stanley, Barclays Capital, and others are participating as joint lead managers and co-managers.

Ares Capital stated it expects to use the net proceeds to repay outstanding indebtedness under its debt facilities. The company may reborrow under its debt facilities for general corporate purposes, including investing in portfolio companies in accordance with its investment objective.

Founded in 2004, Ares Capital is a specialty finance company focused on providing direct loans and other investments in private middle market companies in the United States. The company has elected to be regulated as a business development company and is externally managed by a subsidiary of Ares Management Corporation (NYSE: ARES).

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