Ares Capital Corporation (Nasdaq: ARCC) announced that it plans to make a public offering of 13,500,000 shares of its common stock. Ares Capital also plans to grant the underwriters an option to purchase up to an additional 2,025,000 shares of common stock. The offering of the shares will be made under Ares Capital’s shelf registration statement filed with the Securities and Exchange Commission on September 16, 2020, which became effective automatically upon filing.

BofA Securities, Inc., Morgan Stanley & Co. LLC and Wells Fargo Securities LLC are acting as joint book-running managers for this offering.

Ares Capital expects to use the net proceeds of this offering to repay certain outstanding indebtedness under its debt facilities. Ares Capital may reborrow under its debt facilities for general corporate purposes, which include investing in portfolio companies in accordance with its investment objective.