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Ares Capital files for notes offering


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Ares Capital files for notes offering

Ares Capital Corp. on Aug. 4 filed a prospectus supplement relating to an offering of an undetermined amount of notes.

Holders of the notes can require the company to repurchase the notes at 100% of their principal amount upon the occurrence of a change-of-control repurchase event. The notes will be the direct senior unsecured obligations of the company and rank equally with all outstanding and future unsecured unsubordinated debt issued by the company.

Ares Capital plans to use the net proceeds of the offering to repay or repurchase outstanding debt, and for general corporate purposes.

Merrill Lynch Pierce Fenner & Smith Inc., J.P. Morgan Securities, SunTrust Robinson Humphrey Inc. and RBC Capital Markets LLC are the underwriters for the offering.