Ares Capital Corporation announced that it has increased commitments under its Revolving Credit Facility (the Facility) to approximately $3.6 billion and extended the final maturity date to March 30, 2025. The Facility was led by JP Morgan, Bank of America, SunTrust Robinson Humphrey, BMO Capital Markets, MUFG Bank, Ltd. and Sumitomo Mitsui Banking Corporation and includes a total of 37 bank participants. Pricing and advance rates remain unchanged on the Facility.

Thus far in 2020, Ares Capital has increased or extended all of its bank led revolving facilities, now totaling more than $5.9 billion, all with pricing and advance rates unchanged. The earliest bank revolving facility maturity is 2024. In addition, Ares Capital expanded its unsecured funding capacity by issuing a $750 million 3.25% unsecured note offering in February 2020, which reflects the lowest unsecured note cost in the companys history.

"We are pleased to execute this upsize and extension of our facility, which further enhances our deep sources of liquidity and our flexibility," said Kipp deVeer, Chief Executive Officer of Ares Capital. We truly appreciate our extensive bank relationships and their commitment to providing support for our financing needs.

"Considering the volatile market environment, we believe our ability to upsize and extend this facility highlights the confidence our bank group has in Ares Capital and our long-standing investment experience through market cycles," said Penni Roll, Chief Financial Officer of Ares Capital.