Ares Capital Corporation and Ares Capital JB Funding LLC entered into an amendment to the documents governing revolving funding facility with Sumitomo Mitsui Banking Corporation and each of the other parties thereto. The SMBC Amendment, among other things, (a) transitioned the interest rate based on the London Interbank Offered Rate and related LIBOR-based mechanics applicable to borrowings under the SMBC Funding Facility to an interest rate based on the Secured Overnight Financing Rate (“SOFR”) and related SOFR-based mechanics; and (b) adjusted the interest rate charged on the SMBC Funding Facility from an applicable spread of either (i) 1.75% or 2.00% over one month LIBOR, or (ii) 0.75% or 1.00% over a “base rate” (as defined in the agreements governing the SMBC Funding Facility) to an applicable spread of either (x) 1.75% or 2.00% over one month SOFR plus a credit spread adjustment of 0.10%, or (y) 0.75% or 1.00% over a “base rate” (as defined in the agreements governing the SMBC Funding Facility). Borrowings under the SMBC Funding Facility are subject to the facility's various covenants and the leverage restrictions contained in the Investment Company Act of 1940, as amended.