New Issue: Ares prices $250 million 4% notes due 2024 at Treasuries plus 180 bps

By Aleesia Forni

Virginia Beach, Oct. 1 – Ares Finance Co. LLC priced $250 million of 4% 10-year senior notes (/A-/) at Treasuries plus 180 basis points on Wednesday, an informed source said.

The notes sold at the tight end of price talk.

Pricing was at 98.268 to yield 4.214%.

The notes are guaranteed by Ares Management LP, Ares Holdings Inc., Ares Domestic Holdings Inc., Ares Real Estate Holdings LLC, Ares Holdings LP, Ares Domestic Holdings LP, Ares Investments LP, Ares Real Estate Holdings LP, Ares Management LLC and Ares Investments Holdings LLC.

BofA Merrill Lynch, J.P. Morgan Securities LLC, Barclays, Citigroup Global Markets Inc., Credit Suisse Securities (USA) LLC, Deutsche Bank Securities Inc., Goldman Sachs & Co., Morgan Stanley & Co. LLC, RBC Capital Markets LLC SunTrust Robinson Humphrey Inc. and Wells Fargo Securities LLC are the bookrunners for the Rule 144A and Regulation S notes.

Proceeds will be used to repay outstanding borrowings under the company’s revolving credit facility and promissory notes issued in connection with a prior acquisition. Any remaining proceeds will be used for general corporate purposes.

The alternative asset management firm is based in Los Angeles.

Issuer:	Ares Finance Co. LLC
Guarantors:	Ares Management LP, Ares Holdings Inc., Ares Domestic Holdings Inc., Ares Real Estate Holdings LLC, Ares Holdings LP, Ares Domestic Holdings LP, Ares Investments LP, Ares Real Estate Holdings LP, Ares Management LLC, Ares Investments Holdings LLC
Amount:	$250 million
Description:	Senior notes
Maturity:	Oct. 8, 2024
Bookrunners:	BofA Merrill Lynch, J.P. Morgan Securities LLC, Barclays, Citigroup Global Markets Inc., Credit Suisse Securities (USA) LLC, Deutsche Bank Securities Inc., Goldman Sachs & Co., Morgan Stanley & Co. LLC, RBC Capital Markets LLC SunTrust Robinson Humphrey Inc., Wells Fargo Securities LLC
Coupon:	4%
Price:	98.268
Yield:	4.214%
Spread:	Treasuries plus 180 bps
Trade date:	Oct. 1
Settlement date:	Oct. 8
Rating:	Standard & Poor's: A-
Distribution:	Rule 144A and Regulation S
Price talk:	Treasuries plus 185 bps area

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