New York – September 12, 2026 -- Ares Capital Corporation (Nasdaq: ARCC) has priced an underwritten public offering of $750 million in aggregate principal amount of 6.250% notes due 2033, with the deal expected to close on September 15, 2026.
Notes carry a 2033 maturity with make-whole redemption terms
The notes will mature on September 15, 2033. Ares Capital may redeem the securities in whole or in part at any time at par plus a make-whole premium, if applicable, giving the company flexibility to retire the debt early.
Twelve banks lead a syndicate spanning global and regional underwriters
BofA Securities, J.P. Morgan Securities, RBC Capital Markets, SMBC Nikko Securities America, Wells Fargo Securities, Barclays Capital, CIBC World Markets, Mizuho Securities USA, MUFG Securities Americas, TD Securities, Truist Securities and U.S. Bancorp Investments are acting as joint book-running managers. A separate group of 11 firms, including BNP Paribas, Goldman Sachs and Morgan Stanley, serve as joint lead managers, while ten additional co-managers round out the underwriting group.
Proceeds will refinance existing debt facilities before redeployment
Ares Capital plans to use net proceeds to repay outstanding indebtedness under its debt facilities. The company may subsequently reborrow under those facilities for general corporate purposes, including investments in portfolio companies consistent with its stated investment objective.
Ares Capital holds the largest market capitalization among publicly traded BDCs
As of June 30, 2026, Ares Capital was the largest publicly traded business development company by market capitalization. The firm, externally managed by a subsidiary of Ares Management Corporation (NYSE: ARES), focuses on direct loans and other investments in U.S. private middle-market companies, primarily through senior secured lending alongside subordinated debt and equity positions.
The offering is being made under a pricing term sheet and preliminary prospectus supplement dated September 8, 2026, filed with the Securities and Exchange Commission, alongside an accompanying prospectus dated May 1, 2024.