Current Report Filing (8-k)
January 11 2023 - 4:31PM
Edgar (US Regulatory)
0001287750
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0001287750
2023-01-09
2023-01-09
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xbrli:shares
iso4217:USD
xbrli:shares
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, DC 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of
the
Securities Exchange Act of 1934
Date of report (Date of earliest event reported) January 9, 2023
ARES CAPITAL CORPORATION
(Exact Name of Registrant as Specified in
Charter)
Maryland |
|
814-00663 |
|
33-1089684 |
(State or Other Jurisdiction of Incorporation) |
|
(Commission
File Number) |
|
(IRS Employer
Identification No.) |
245 Park Avenue, 44th Floor, New York, NY |
|
10167 |
(Address of Principal Executive Offices) |
|
(Zip Code) |
Registrant’s telephone number, including
area code (212) 750-7300
(Former Name or Former Address, if Changed
Since Last Report)
Check the appropriate box below if the
Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions
(see General Instruction A.2. below):
¨
Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
¨ Soliciting material pursuant to Rule 14a-12
under the Exchange Act (17 CFR 240.14a-12)
¨ Pre-commencement communications pursuant to
Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
¨ Pre-commencement communications pursuant to
Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
Securities registered pursuant to Section 12(b) of
the Act:
Title of each class |
|
Trading
symbol |
|
Name of each exchange on which registered |
Common stock, $0.001 par value |
|
ARCC |
|
NASDAQ Global Select Market |
Indicate by check mark whether the registrant
is an emerging growth company as defined in as defined in Rule 405 of the Securities Act of 1933 (§ 230.405 of this chapter)
or Rule 12b-2 of the Securities Exchange Act of 1934 (§ 240.12b-2 of this chapter).
Emerging
growth company ¨
If
an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for
complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange
Act. ¨
Item 1.01 Entry into a Material Definitive Agreement.
On January 9, 2023, Ares Capital Corporation (the
“Company”) and ARCC FB Funding LLC, a wholly owned subsidiary of the Company, amended the document governing its revolving
funding facility (the "BNP Funding Facility") by entering into a Fourth Amendment to the Revolving Credit and Security Agreement
(the “Amendment”). The Amendment among other things (a) increased the commitments under the facility by $200 million, from
$300 million to $500 million and (b) adjusted the interest rate charged on the BNP Funding Facility from an applicable LIBOR (subject
to a floor of 0.00%) or a "base rate" (as defined in the BNP Funding Facility) plus a margin of (i) 1.80% during the reinvestment
period and (ii) 2.30% following the reinvestment period to an applicable SOFR (subject to a floor of 0.00%) or a "base rate"
(as defined in the BNP Funding Facility) plus a margin of (i) 2.30% during the reinvestment period and (ii) 2.80% following the reinvestment
period. The other terms of the BNP Funding Facility remained materially unchanged.
The description above is only a summary of the
material provisions of the Amendment and is qualified in its entirety by reference to copies of the Amendment, which is filed as Exhibit
10.1 to this current report on Form 8-K and incorporated by reference herein.
Item 9.01 Financial Statements and Exhibits.
Exhibit Number |
|
Description |
|
|
|
10.1 |
|
Fourth Amendment to the Revolving Credit and Security Agreement, dated as of January 9, 2023, among ARCC FB Funding LLC, as borrower, the lenders from time to time parties thereto, BNP Paribas, as administrative agent and lender, Ares Capital Corporation, as equityholder and servicer, and U.S. Bank National Association, as collateral agent. |
|
|
|
104 |
|
Cover Page Interactive Data File (embedded within the Inline XBRL document) |
SIGNATURE
Pursuant to the requirements of the Securities
Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
|
|
ARES CAPITAL CORPORATION |
|
|
|
Date: January 11, 2023 |
|
|
|
|
|
|
By: |
/s/ Penni F. Roll |
|
Name: |
Penni F. Roll |
|
Title: |
Chief Financial Officer |
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