Ares Capital CP Funding Extends $400M Facility To January 2016

Ares Capital Corp.’s indirect subsidiary, Ares Capital CP Funding LLC, extended its $400 million revolving funding facility to Jan. 18, 2016, from Jan. 22, 2013. Wells Fargo Bank NA provided the facilty, which contains a three-year reinvestment period until Jan. 18, 2014 followed by a two year amortization period. The reinvestment period and final maturity may be extended two times for one year periods if mutually agreed upon by the parties. Pricing on the facility remains unchanged and the currently effective LIBOR spread under is 2.75 percent.

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