Ares Capital to repay some facilities with funds from new convertibles

By Marisa Wong

Morgantown, W.Va., Jan. 23 – Ares Capital Corp. intends to repay some outstanding debt under its facilities using proceeds from an offering of convertible notes, according to a press release.

The company plans to sell $250 million of convertibles due 2022 with a $37.5 million greenshoe.

The company may reborrow under its debt facilities for general corporate purposes, the release noted.

Ares Capital is a specialty finance company based in New York City.

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