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.
(d) 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)
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