Company Announces Successful Pricing of Senior Unsecured Notes Maturing in 2031
Ares Capital Corporation announced that it has priced an underwritten public offering of $750 million in aggregate principal amount of 5.250% notes due April 12, 2031. The notes may be redeemed in whole or in part at Ares Capital’s option at any time at par plus a “make-whole” premium, if applicable.BofA Securities, J.P. Morgan Securities, RBC Capital Markets, SMBC Nikko Securities, Wells Fargo Securities, Barclays Capital, and BNP Paribas Securities are serving as joint book-running managers. Additional joint lead managers include HSBC Securities, Morgan Stanley, Regions Securities, SG Americas Securities, U.S. Bancorp Investments, BNY Mellon Capital Markets, Capital One Securities, Credit Agricole Securities, Goldman Sachs, ICBC Standard Bank, and Natixis Securities Americas. Co-managers for the offering include Ares Management Capital Markets, Deutsche Bank Securities, ING Financial Markets, R. Seelaus & Co., AmeriVet Securities, Citigroup Global Markets, Keefe, Bruyette & Woods, Loop Capital Markets, Samuel A. Ramirez & Company, and Siebert Williams Shank.
The offering is expected to close on January 12, 2026, subject to customary closing conditions. Ares Capital intends to use the net proceeds to repay certain outstanding indebtedness and may reborrow under its debt facilities for general corporate purposes, including investments in portfolio companies aligned with its investment objectives.
Investors should review the investment objectives, risks, charges, and expenses of Ares Capital carefully. The pricing term sheet dated January 5, 2026, the preliminary prospectus supplement dated January 5, 2026, and the accompanying prospectus dated May 1, 2024, filed with the Securities and Exchange Commission, provide detailed information about the company and the offering.
The offering is being made solely through the preliminary prospectus supplement and the accompanying prospectus. Copies may be obtained from BofA Securities, J.P. Morgan Securities, RBC Capital Markets, SMBC Nikko Securities, or Wells Fargo Securities using the contact details provided above.
ABOUT ARES CAPITAL CORPORATION
Founded in 2004, Ares Capital is a leading specialty finance company focused on providing direct loans and other investments in private middle market companies in the United States. Ares Capital’s objective is to source and invest in high-quality borrowers that need capital to achieve their business goals, which oftentimes can lead to economic growth and employment. Ares Capital believes its loans and other investments in these companies can help generate attractive levels of current income and potential capital appreciation for investors. Ares Capital, through its investment manager, utilizes its extensive, direct origination capabilities and incumbent borrower relationships to source and underwrite predominantly senior secured loans but also subordinated debt and equity investments. Ares Capital has elected to be regulated as a business development company (“BDC”) and was the largest publicly traded BDC by market capitalization as of September 30, 2025. Ares Capital is externally managed by a subsidiary of Ares Management Corporation (NYSE: ARES), a publicly traded, leading global alternative investment manager.
