ARES CAPITAL CORPORATION (NASDAQ:ARCC) Files An 8-K Regulation FD Disclosure

ME Staff 8-k

6 years ago

ARES CAPITAL CORPORATION (NASDAQ:ARCC) Files An 8-K Regulation FD DisclosureItem 7.01 Regulation FD Disclosure.

On June25, 2018, Ares Capital Corporation (the “Company”) issued a press release, included herewith as Exhibit99.1, announcing that on June21, 2018 the board of directors of the Company (the “Board”), including a “required majority” (as such term is defined in Section57(o)of the Investment Company Act of 1940, as amended (the “1940 Act”)) of the Board, approved the application of the modified asset coverage requirements set forth in Section61(a)(2)of the 1940 Act, as amended by the Small Business Credit Availability Act. As a result, the Company’s asset coverage requirements applicable to senior securities will be reduced from 200% to 150%, effective on June21, 2019. In addition, the Company is reducing its annual base management fee from 1.5% to 1.0% on all assets financed using leverage over 1.0x debt to equity. In connection with the above, the Company has also provided an investor presentation on its website at http://www.arescapitalcorp.com. A copy of the investor presentation is included as Exhibit99.2 to this Form8-K.

The information disclosed under this Item 7.01, including Exhibits 99.1 and 99.2 hereto, is being furnished and shall not be deemed “filed” for purposes of Section18 of the Securities Exchange Act of 1934 and shall not be deemed incorporated by reference into any filing made under the Securities Act of 1933, except as expressly set forth by specific reference in such filing.

Item 9.01 Financial Statements and Exhibits.

(d)Exhibits:

ARES CAPITAL CORP ExhibitEX-99.1 2 a18-15842_1ex99d1.htm EX-99.1 Exhibit 99.1 Ares Capital Corporations Board Approves Reduction in its Asset Coverage Requirement ARCC Expects to Benefit from the Enhanced Operating Flexibility Provided By SBCAA Expects Stakeholders to Benefit from Incremental Earnings Growth over Time,…To view the full exhibit click here
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.