Ares Capital Corporation increased commitments under its Revolving Credit Facility to approximately $4.8 billion and extended the final maturity date to March 31, 2027. The Facility is led by JP Morgan, Bank of America, Truist, MUFG Bank, Sumitomo Mitsui Banking Corporation and Wells Fargo and includes a total of 39 lenders. As part of this amendment, certain currency reference rates used to determine the borrowing interest rate were updated, including replacing the LIBOR rate with Term SOFR plus an applicable credit spread adjustment. Pricing and advance rates are otherwise unchanged on the Facility.

"We are pleased to execute this upsize and extension of our largest credit facility, which further enhances our deep sources of capital," said Kipp deVeer, Chief Executive Officer of Ares Capital. "We believe our strong financial position is a hallmark of our ability to invest through varying market conditions."

"We truly appreciate the broad support from our extensive bank relationships in growing the overall size of this credit facility," said Penni Roll, Chief Financial Officer of Ares Capital. "Our ongoing focus on increasing our access to diverse sources of long-dated liabilities has continued to support our financial flexibility and further expanded our available liquidity."