NEW YORK--(BUSINESS WIRE)--
Ares Capital Corporation (Nasdaq: ARCC) announced that it plans to make
a public offering of 16,650,000 shares of its common stock. Ares Capital
also plans to grant the underwriters an option to purchase up to an
additional 2,497,500 shares of common stock. The offering of the shares
will be made under Ares Capital’s shelf registration statement (as
amended), which was filed with, and declared effective by, the
Securities and Exchange Commission.
Ares Capital expects to use the net proceeds of this offering to repay
certain outstanding indebtedness under its debt facilities and, to the
extent not used for such purpose, for general corporate purposes, which
may include investing in portfolio companies in accordance with its
investment objective.
Investors are advised to carefully consider the investment objective,
risks, charges and expenses of Ares Capital before investing. The
preliminary prospectus supplement dated April 2, 2013 and the
accompanying prospectus dated August 16, 2012, which have been filed
with the Securities and Exchange Commission, contain this and other
information about Ares Capital and should be read carefully before
investing.
BofA Merrill Lynch, J.P. Morgan, Morgan Stanley and UBS Investment Bank
are acting as joint book-running managers for this offering.
The information in the preliminary prospectus supplement, the
accompanying prospectus and this press release is not complete and may
be changed. The preliminary prospectus supplement, the
accompanying prospectus and this press release are not offers to sell
any securities of Ares Capital and are not soliciting an offer to buy
such securities in any state where such offer and sale is not permitted.
The offering may be made only by means of a preliminary prospectus
supplement and an accompanying prospectus, copies of which may be
obtained from BofA Merrill Lynch, 222 Broadway, New York, NY 10038,
Attn: Prospectus Department, or e-mail [email protected];
J.P. Morgan Securities LLC, c/o Broadridge Financial Solutions, 1155
Long Island Avenue, Edgewood, NY 11717, Attention: Prospectus
Department, 866-803-9204; Morgan Stanley & Co. LLC, 180 Varick Street,
2nd Floor, New York, NY, 10014, Attn: Prospectus Department, tel.: (866)
718-1649 or e-mail [email protected];
or UBS Investment Bank, Attn: Prospectus Department, 299 Park Avenue,
New York, NY 10171, tel.: (888) 827-7275.
ABOUT ARES CAPITAL CORPORATION
Ares Capital is a leading specialty finance company that provides
one-stop financing solutions to U.S. middle market companies and private
equity sponsors. The Company originates and invests in senior secured
loans, mezzanine debt and, to a lesser extent, equity investments
through its national direct origination platform. Ares Capital’s
investment objective is to generate both current income and capital
appreciation through debt and equity investments primarily in private
companies. Ares Capital has elected to be regulated as a business
development company and is externally managed by a wholly owned
subsidiary of Ares Management LLC. Ares Management is a global
alternative asset manager and a SEC-registered investment adviser with
approximately $59 billion of committed capital under management as of
December 31, 2012.
FORWARD-LOOKING STATEMENTS
Statements included herein may constitute “forward-looking statements,”
which relate to future events or our future performance or financial
condition. These statements are not guarantees of future performance,
condition or results and involve a number of risks and uncertainties.
Actual results and conditions may differ materially from those in the
forward-looking statements as a result of a number of factors, including
those described from time to time in our filings with the Securities and
Exchange Commission. Ares Capital Corporation undertakes no duty to
update any forward-looking statements made herein.
Ares Capital Corporation
Carl G. Drake, 888-818-5298
Source: Ares Capital Corporation