Ares Capital Corporation (ARCC) extended the maturity and reduced pricing on its existing $400 million revolving funding facility with Sumitomo Mitsui Banking Corporation. ARCC extended the reinvestment period by one year to September 14, 2017 and stated maturity by one year to September 14, 2022. The stated interest rate on the facility was changed from LIBOR plus 2.00% to either LIBOR plus 1.75% or LIBOR plus 2.00%, determined based on usage levels.

“The extension and favorable pricing changes shows the confidence our lenders have in ARCC. We have built a strong relationship with Sumitomo Mitsui Banking Corporation and appreciate their support in helping us to continue to lower the cost of our revolving debt capital,” stated Penni Roll, Chief Financial Officer of Ares Capital Corporation.

In addition to this $400 million revolving funding facility, Ares Capital Corporation, including through a wholly owned financing subsidiary, has two other revolving credit facilities with total commitments of $1.8 billion, bringing total revolving credit capacity to approximately $2.2 billion (subject to borrowing base and leverage restrictions).

Ares Capital is a leading specialty finance company that provides one-stop debt and equity financing solutions to U.S. middle-market companies, venture capital-backed businesses and power generation projects. Ares Capital originates and invests in senior secured loans, mezzanine debt and, to a lesser extent, equity investments through its national direct origination platform.