Ares Capital Corporation

11/12/2024 | Press release | Distributed by Public on 11/12/2024 21:16

Material Agreement Form 8 K

Item 1.01 Entry into a Material Definitive Agreement.
On December 6, 2024, Ares Capital Corporation (the "Registrant") and Ares Capital JB Funding LLC, a wholly owned subsidiary of the Registrant ("ACJB LLC"), entered into Amendment No. 11 (the "SMBC Funding Facility Amendment") to amend the Loan and Servicing Agreement, dated as of January 20, 2012, as amended (the "SMBC Funding Facility"), with Sumitomo Mitsui Banking Corporation and each of the other parties thereto. The SMBC Funding Facility Amendment, among other things, (a) extended the reinvestment period from March 28, 2027 to December 6, 2027; (b) extended the stated maturity date from March 28, 2029 to December 6, 2029 and (c) adjusted the interest rate charged on the SMBC Funding Facility from an applicable spread of either (i) 2.50% over one month SOFR or (ii) 1.50% over a "base rate" to an applicable spread of either (x) 2.00% over one month SOFR or (y) 1.00% over a "base rate" (as defined in the documents governing the SMBC Funding Facility). The other terms of the SMBC Funding Facility remained materially unchanged.
Borrowings under the SMBC Funding Facility are subject to the facility's various covenants and the leverage restrictions contained in the Investment Company Act of 1940, as amended.
The description above is only a summary of the material provisions of the SMBC Funding Facility Amendment and is qualified in its entirety by reference to a copy of the SMBC Funding Facility Amendment, which is filed as Exhibit 10.1 to this current report on Form 8-K and incorporated by reference herein.