Ares Capital Corporation: Amendment and Restatement of Credit Facility

Ares Capital Corporation announced on May 21, 2026, the amendment and restatement of its senior secured credit facility. The updated facility, with JPMorgan Chase Bank, N.A. as the administrative agent, increases the total commitments and loans from approximately $5.312 billion to $5.481 billion. Key changes include an extension of the revolving period and stated maturity dates for certain lenders to May 21, 2030, and May 21, 2031, respectively. The interest rate structure has been updated, with applicable spreads varying based on the borrowing base relative to the combined debt amount. The facility continues to be secured by a substantial portion of the Company’s assets and guaranteed by certain subsidiaries. It also includes an "accordion" feature allowing for an increase in the facility size by up to approximately $2.7 billion under certain circumstances. Covenants related to indebtedness, investments, asset transfers, and financial ratios remain in place, with certain limitations and exceptions detailed in the credit facility documents.