Ares Capital Corporation Extends Maturity on Revolving Funding Facility
Ares Capital Corporation (NASDAQ: ARCC) announced today that its indirect wholly owned subsidiary, Ares Capital CP Funding LLC, extended its $400 million revolving funding facility provided by Wells Fargo Bank, National Association.
The Facility's maturity has been extended from January 22, 2013 to January 18, 2016. Further, the Facility contains a three year reinvestment period until January 18, 2014 followed by a two year amortization period ending January 18, 2016. The Facility's reinvestment period and final maturity may be extended two times for one year periods if mutually agreed upon by the parties. Pricing on the Facility remains unchanged and is based on a pricing grid depending upon the credit ratings of Ares Capital.
The currently effective LIBOR spread under the Facility is 2.75%.
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