Ares Capital Corp. priced an underwritten public offering of $750.0 million of its 3.250% notes due July 15, 2025.
The notes may be redeemed in whole or in part at the company's option at any time at par plus a make-whole premium, if applicable.
The offering is expected to close Jan. 15.
Net proceeds of the offering will be used to repay certain outstanding indebtedness under Ares Capital's debt facilities. The company may reborrow under its debt facilities for general corporate purposes, which include investing in portfolio companies in accordance with its investment objective.
BofA Securities Inc., J.P. Morgan Securities LLC, SMBC Nikko Securities America Inc., BMO Capital Markets LLC, Mizuho Securities USA LLC, Morgan Stanley & Co. LLC, MUFG Securities Americas Inc., RBC Capital Markets LLC and Wells Fargo Securities LLC are joint book-running managers for the offering.
Barclays Capital Inc., BNP Paribas Securities Corp., Goldman Sachs & Co. LLC, HSBC Securities (USA) Inc., Natixis Securities Americas LLC, Regions Securities LLC, SG Americas Securities LLC and SunTrust Robinson Humphrey Inc. are joint lead managers.
Capital One Securities Inc., Citigroup Global Markets Inc., Deutsche Bank Securities Inc., ICBC Standard Bank PLC, Santander Investment Securities Inc., U.S. Bancorp Investments Inc., BNY Mellon Capital Markets LLC, CIBC World Markets Corp., Comerica Securities Inc., Credit Suisse Securities (USA) LLC, JMP Securities LLC and Keefe Bruyette & Woods Inc. are co-managers.