ARES CAPITAL CORPORATION (NASDAQ:ARCC) Files An 8-K Entry into a Material Definitive Agreement

ME Staff 8-k
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ARES CAPITAL CORPORATION (NASDAQ:ARCC) Files An 8-K Entry into a Material Definitive Agreement
Item 1.01 Entry into a Material Definitive Agreement.

On August24, 2017, Ares Capital Corporation (the “Registrant”) and Ares Capital JB Funding LLC, a wholly owned subsidiary of the Registrant (“ACJB LLC”), entered into an amendment (the “SMBC Amendment”) to the documents governing ACJB LLC’s revolving funding facility (the “SMBC Funding Facility”) with Sumitomo Mitsui Banking Corporation and each of the other parties thereto. The SMBC Amendment, among other things, (a)extended the reinvestment period from September14, 2017 to September14, 2018; (b)extended the stated maturity date from September14, 2022 to September14, 2023; and (c)adjusted the borrowing threshold on which the applicable interest rate spreads are based from $100,000,000 to $175,000,000.

Borrowings under the SMBC Funding Facility are subject to the facility’s various covenants and the leverage restrictions contained in the Investment Company Act of 1940, as amended.

The description above is only a summary of the material provisions of the SMBC Amendment and is qualified in its entirety by reference to a copy of the SMBC Amendment, which is filed as Exhibit10.1 to this current report on Form8-K and incorporated by reference herein.

Item 2.03 Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of Registrant.

The information contained in Item 1.01 to this current report on Form8-K is by this reference incorporated in this Item 2.03.

Item 9.01 Financial Statements and Exhibits.

(d) Exhibits:

ExhibitNumber

Description

10.1

Omnibus Amendment No.4, dated as of August24, 2017, among Ares Capital JB Funding LLC, as borrower, Ares Capital Corporation, as servicer and transferor, Sumitomo Mitsui Banking Corporation, as administrative agent, lender and collateral agent, and U.S. Bank National Association, as collateral custodian and bank (amending the Loan and Servicing Agreement, dated as of January20, 2012).


ARES CAPITAL CORP Exhibit
EX-10.1 2 a17-20975_1ex10d1.htm EX-10.1 Exhibit 10.1   EXECUTION VERSION   OMNIBUS AMENDMENT NO. 4 (Ares Capital JB Funding LLC)   THIS OMNIBUS AMENDMENT NO. 4,…
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About ARES CAPITAL CORPORATION (NASDAQ:ARCC)

Ares Capital Corporation is a specialty finance company that is a closed-end, non-diversified management investment company. The Company’s investment objective is to generate both current income and capital appreciation through debt and equity investments. The Company invests primarily in the United States middle-market companies. The Company invests in first lien senior secured loans (including unitranche loans, which are loans that combine both senior and mezzanine debt, generally in a first lien position), second lien senior secured loans and mezzanine debt, which in some cases includes an equity component. The Company focuses on self-originating most of its investments by pursuing an array of investment opportunities in middle-market companies, venture capital backed businesses and power generation projects across multiple channels. It also makes preferred and/or common equity investments. The Company is externally managed by its investment advisor, Ares Capital Management LLC.