Ares Capital Corporation filed SEC Form 8-K: Entry into a Material Definitive Agreement, Creation of a Direct Financial Obligation, Financial Statements and Exhibits
$ARCC
Finance: Consumer Services
Finance
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) March 20, 2025
(Exact Name of Registrant as Specified in Charter)
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Item 1.01 Entry into a Material Definitive Agreement.
On March 20, 2025, Ares Capital Corporation (the “Registrant”) and ARCC FB Funding LLC, a wholly owned subsidiary of the Registrant (“AFB LLC”), entered into a Ninth Amendment (the “BNP Funding Facility Amendment”) to the Revolving Credit and Security Agreement, dated June 11, 2020, as amended (the “BNP Funding Facility”), with BNP Paribas and each of the other parties thereto. The BNP Funding Facility Amendment, among other things, (a) extended the end of the reinvestment period from July 26, 2027 to March 20, 2028; (b) extended the stated maturity date from July 26, 2029 to March 20, 2030 and (c) adjusted the interest rate charged on the BNP Funding Facility from an applicable Secured Overnight Financing Rate (“SOFR”) or a “base rate” plus a margin of (i) 2.10% during the reinvestment period and (ii) 2.60% following the reinvestment period to an applicable SOFR or a “base rate” (as defined in the documents governing the BNP Funding Facility) plus a margin of (i) 1.90% during the reinvestment period and (ii) 2.40% 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 BNP Funding Facility Amendment and is qualified in its entirety by reference to a copy of the BNP Funding Facility Amendment, which is filed as Exhibit 10.1 to this current report on Form 8-K and incorporated by reference herein.
Item 2.03 Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of Registrant.
The information contained in Item 1.01 to this current report on Form 8-K is by this reference incorporated in this Item 2.03.
Item 9.01 Financial Statements and Exhibits.
(d) Exhibits:
| Exhibit Number | Description | |||||||
| Ninth Amendment to the Revolving Credit and Security Agreement, dated as of March 20, 2025, 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 Trust Company 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: March 24, 2025 | ||||||||
| By: | /s/ SCOTT C. LEM | |||||||
| Name: | Scott C. Lem | |||||||
| Title: | Chief Financial Officer and Treasurer | |||||||