ARES CAPITAL CORPORATION (NASDAQ:ARCC) Files An 8-K Other Events
Item 8.01 Other Events.
On March20, 2019, Ares Capital Corporation (the “Company”) issued an additional $52.5 million aggregate principal amount of its 4.625% Convertible Notes due 2024 (the “Convertible Notes”) to the underwriters’ exercise in full of their option to purchase additional Convertible Notes. The Company granted this option to the underwriters in connection with its issuance of $350 million aggregate principal amount of the Convertible Notes, which was completed on March8, 2019.
The Company raised approximately $51.1 million in net proceeds from the sale of the additional $52.5 million aggregate principal amount, which brought the total net proceeds of the offering to approximately $390.7 million after deducting underwriting discounts and estimated offering expenses. The Company expects to use the total net proceeds of this offering to repay or repurchase certain outstanding indebtedness under its debt facilities. The Company may reborrow under its debt facilities for general corporate purposes, which include investing in portfolio companies in accordance with its investment objective.
Item 9.01 Financial Statements and Exhibits.
(d)Exhibits:
ARES CAPITAL CORP Exhibit
EX-5.1 2 a19-6512_4ex5d1.htm EX-5.1 Exhibit 5.1 Proskauer Rose LLP 1001 Pennsylvania Avenue,…
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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.