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Ares Capital Corporation Declares First Quarter 2013 Dividend Of $0.38 Per Share And Announces December 31, 2012 Financial Results

Stocks in this article: ARCC

During the fourth quarter of 2012, significant new commitments included:

  • $170 million in a second lien senior term loan and equity of a keg management solutions provider;
  • $125 million in first lien senior revolving and term loans and equity of a payroll and accounting services provider to the entertainment industry;
  • $112 million in a second lien senior term loan of a revenue cycle management provider to the emergency healthcare industry;
  • $91 million in the subordinated certificates of the SSLP, the proceeds of which were applied to co-investments with GE to fund first lien senior secured loans to eight portfolio companies in a variety of industries;
  • $75 million in a second lien senior term loan of a healthcare patient infection control and preventive care solutions provider;
  • $73 million in first lien senior revolving, delayed draw and term loans and equity of an endurance sports media and event operator;
  • $69 million in first lien senior revolving, delayed draw and term loans of a correctional facility healthcare operator;
  • $56 million in first lien delayed draw and term loans of a solar power generation facility developer and operator;
  • $50 million in first lien revolving, delayed draw and term loans of an airport restaurant operator;
  • $43 million first lien delayed draw and term loans of a healthcare technology provider; and
  • $26 million in first lien delayed draw and term loans of a records and information management services provider.

Also during the fourth quarter of 2012, Ares Capital exited approximately $1,157.2 million of investment commitments. Investment commitments exited in the fourth quarter were driven by the elevated amount of liquidity in the markets and anticipated changes in tax regulations, resulting in a higher level of refinancing, repayment and sale activity.

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