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Ares Capital issues additional $53M of convertible notes due 2024

Ares Capital Corp. issued an additional $52.5 million of its 4.625% convertible notes due 2024, pursuant to underwriters fully exercising their option to buy additional notes.

Ares Capital raised about $51.1 million in net proceeds from the underwriters' option, bringing total net proceeds for the $350 million offering to approximately $390.7 million.

The company expects to use the total net proceeds to repay or repurchase certain outstanding debt under its credit facilities.