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Ares Capital Corporation Prices Public Offering Of $175.0 Million 5.875% Senior Unsecured Notes Due 2022

Stocks in this article: ARCC

Ares Capital Corporation (Nasdaq: ARCC) announced that it has priced an underwritten public offering of $175.0 million in aggregate principal amount of 5.875% senior unsecured notes due 2022. The notes will mature on October 1, 2022 and may be redeemed in whole or in part at any time or from time to time at our option on or after October 1, 2015. The notes will bear interest at a rate of 5.875% per year payable quarterly on January 1, April 1, July 1 and October 1 of each year, with the first interest payment due on January 1, 2013. Ares Capital has granted the underwriters an option to purchase up to an additional $26.25 million in aggregate principal amount of notes to cover over-allotments, if any.

Merrill Lynch, Pierce, Fenner & Smith Incorporated, Morgan Stanley & Co. LLC, UBS Securities LLC and Wells Fargo Securities, LLC are acting as joint book-running managers for this offering. Stifel, Nicolaus & Company, Incorporated, Credit Suisse Securities (USA) LLC, Janney Montgomery Scott LLC, RBC Capital Markets, LLC and Stephens Inc. are acting as co-managers for this offering. The offering is expected to close on September 25, 2012, subject to customary closing conditions. Ares Capital intends to apply to list the notes on The New York Stock Exchange and if the application is approved, expects trading in the notes on The New York Stock Exchange to begin within 30 days from the original issue date under the ticker symbol “ARU.”

Ares Capital expects to use the net proceeds of this offering to repay certain outstanding indebtedness under its debt facilities and, to the extent not applied for such purpose, for general corporate purposes, which may include investing in portfolio companies in accordance with its investment objective.

Investors are advised to carefully consider the investment objective, risks, charges and expenses of Ares Capital before investing. The preliminary prospectus supplement dated September 20, 2012 and the accompanying prospectus dated August 16, 2012, each of which have been filed with the Securities and Exchange Commission, contain this and other information about Ares Capital and should be read carefully before investing.

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