Ares Capital Corporation Increases Revolving Funding Facility

Ares Capital Corporation

announced today that its indirect wholly owned subsidiary, Ares Capital CP Funding LLC, increased its revolving funding facility (the “Facility”) provided by Wells Fargo Bank, National Association from $400 million to $500 million. The other terms of the Facility generally remain unchanged, including the maturity date, which is January 18, 2016, and the stated interest rate, which is based on one-month LIBOR (with no floor) plus a spread that is determined under a pricing grid depending upon Ares Capital's credit ratings. The currently effective LIBOR spread is 2.75%. In addition to this $500 million Facility, Ares Capital has an $810 million Revolving Credit Facility, for total revolving debt capacity of approximately $1.3 billion, subject to borrowing base and leverage restrictions.