NEW YORK--(BUSINESS WIRE)--
Ares Capital Corporation (Nasdaq: ARCC) announced that it has priced an
underwritten public offering of $175.0 million in aggregate principal
amount of 5.875% senior unsecured notes due 2022. The notes will mature
on October 1, 2022 and may be redeemed in whole or in part at any time
or from time to time at our option on or after October 1, 2015. The
notes will bear interest at a rate of 5.875% per year payable quarterly
on January 1, April 1, July 1 and October 1 of each year, with the first
interest payment due on January 1, 2013. Ares Capital has granted the
underwriters an option to purchase up to an additional $26.25 million in
aggregate principal amount of notes to cover over-allotments, if any.
Merrill Lynch, Pierce, Fenner & Smith Incorporated, Morgan Stanley & Co.
LLC, UBS Securities LLC and Wells Fargo Securities, LLC are acting as
joint book-running managers for this offering. Stifel, Nicolaus &
Company, Incorporated, Credit Suisse Securities (USA) LLC, Janney
Montgomery Scott LLC, RBC Capital Markets, LLC and Stephens Inc. are
acting as co-managers for this offering. The offering is expected to
close on September 25, 2012, subject to customary closing conditions.
Ares Capital intends to apply to list the notes on The New York Stock
Exchange and if the application is approved, expects trading in the
notes on The New York Stock Exchange to begin within 30 days from the
original issue date under the ticker symbol “ARU.”
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 applied 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 September 20, 2012 and the
accompanying prospectus dated August 16, 2012, each of 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.
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 jurisdiction 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 (1) Merrill Lynch, Pierce, Fenner & Smith Incorporated,
222 Broadway, 7th Floor, New York, NY 10038, Attention: Prospectus
Department, or e-mailing: [email protected],
(2) Morgan Stanley & Co. LLC, 180 Varick Street, 2nd Floor, New York, NY
10014, Attention: Prospectus Department, by phone at 1-866-718-1649, or
e-mailing: [email protected],
(3) UBS Securities LLC, 299 Park Avenue, New York, NY 10171, Attention:
Prospectus Specialist, or by phone at 1-877-827-6444, ext. 561 3884
and (4) Wells Fargo Securities, LLC, 1525 West W.T. Harris Blvd.,
NC0675, Charlotte, North Carolina 28262, Attention: Capital Markets
Client Support, or by phone 1-800-326-5897 or emailing: [email protected].
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 $54 billion of committed capital under management as of
June 30, 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 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 undertakes no duty to update any
forward-looking statements made herein.
Ares Capital Corporation
Carl Drake, 404-814-5204
Source: Ares Capital Corporation