Ares Capital CP expands revolver to $580 million, extends maturity

By Sara Rosenberg

New York, June 8 - Ares Capital CP Funding LLC amended its revolving credit facility, increasing the size to $580 million from $500 million through the addition of two new lenders and extending the maturity to April 2017 from January 2017, according to an 8-K filed with the Securities and Exchange Commission on Friday.

Also, the amendment provides for a $285 million accordion and extends the reinvestment period to April 18, 2015 from Jan. 18, 2015.

Pricing on the revolver is unchanged at Libor plus 250 basis points with no Libor floor.

Wells Fargo Securities is the lead bank on the deal.

The amendment was completed on June 7.

Ares Capital CP is a wholly owned subsidiary of Ares Capital Corp., a New York-based specialty finance company that provides one-stop financing services to U.S. middle-market companies and private equity sponsors.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.