By Aleesia Forni
Virginia Beach, Nov. 12 - Ares Capital Corp. sold an upsized $150 million add-on to its existing 4.875% senior notes due Nov. 30, 2018 at 102.7 to yield 4.25%, or Treasuries plus 266 basis points, according to an informed source and a 497AD filed with the Securities and Exchange Commission.
The yield printed at the tight end of talk, which was set in the area of 4.3%, and the amount was increased from $100 million.
Proceeds will be used for general corporate purposes.
The bookrunners were BofA Merrill Lynch, J.P. Morgan Securities LLC and Barclays.
The original $600 million issue priced at Treasuries plus 366 bps on Nov. 14.
The specialty finance company is based in Los Angeles.
| Issuer: | Ares Capital Corp.
|
| Amount: | $150 million
|
| Description: | Add-on to 4.875% notes due 2018
|
| Maturity: | Nov. 30, 2018
|
| Bookrunners: | BofA Merrill Lynch, J.P. Morgan Securities LLC, Barclays
|
| Coupon: | 4.875%
|
| Price: | 102.7
|
| Yield: | 4.25%
|
| Spread: | Treasuries plus 266 bps
|
| Trade date: | Jan. 23
|
| Settlement date: | Jan. 28
|
| Price talk: | 4.3% area
|
| Total issue size: | $750 million, including $600 million priced on Nov. 14
|
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