US Market News
2週前
Ares Capital Corporation and Ares Strategic Income Fund Announce Increases in Size, Enhanced Terms and Extended Maturities for Bank-Led Revolving Credit FacilitiesMay 26, 2026 6:45 AM
Business Wire Both Facilities Received Maturity Extensions to May 2031 and Decreased Funded Borrowing Costs by 0.10% per Annum Ares Capital Corporation Upsizes Facility by Approximately $170 million; Ares Strategic Income Fund Upsizes Facility by $850 Million Ares Capital Corporation (“Ares Capital”) (NASDAQ: ARCC) and Ares Strategic Income Fund (“ASIF”) announced today renewals, commitment increases and enhanced terms for each of their respective bank-led Revolving Credit Facilities. Ares Capital increased the commitment on its existing credit facility by approximately $170 million to approximately $5.5 billion, decreased the funded borrowing costs by 0.10% per annum to reflect the elimination of the SOFR credit spread adjustment (“CSA”), and extended the final maturity date to May 2031 for substantially all of the facility. In addition, the facility’s uncommitted accordion feature was expanded to allow for an incremental increase of up to approximately $2.7 billion in commitments under certain circumstances. The Ares Capital facility is led by JPMorgan, Bank of America, RBC, SMBC, Truist and Wells Fargo and includes a total of 40 lenders. ASIF increased the commitment on its existing credit facility by $850 million to approximately $4.1 billion, decreased the funded borrowing costs by 0.10% per annum to reflect the elimination of the SOFR CSA, and extended the final maturity date to May 2031. In addition, the facility’s uncommitted accordion feature was expanded to allow ASIF to increase the facility’s overall size to a maximum of approximately $6.15 billion under certain circumstances. The ASIF facility is led by JPMorgan, Barclays, BNP Paribas, RBC, SMBC, Truist and Wells Fargo and includes a total of 24 lenders. The other terms of the facilities remained materially unchanged. “The successful extension of these facilities, and in particular a significant increase in new capital to the ASIF facility, underscores the depth of our relationships, the confidence that our banking partners have in Ares’ direct lending credit capabilities and our long-term differentiated performance,” said Scott Lem, Chief Financial Officer of Ares Capital and ASIF. “As we continue to build on Ares’ more than 20-year track record, the enhanced terms of these facilities further strengthen each fund’s financial flexibility to capitalize on today’s attractive investing environment and continue seeking to drive attractive returns for our shareholders.” About Ares Capital Corporation Founded in 2004, Ares Capital is a leading specialty finance company focused on providing direct loans and other investments in private middle market companies in the United States. Ares Capital’s objective is to source and invest in high-quality borrowers that need capital to achieve their business goals, which oftentimes can lead to economic growth and employment. Ares Capital believes its loans and other investments in these companies can help generate attractive levels of current income and potential capital appreciation for investors. Ares Capital, through its investment manager, utilizes its extensive, direct origination capabilities and incumbent borrower relationships to source and underwrite predominantly senior secured loans but also subordinated debt and equity investments. Ares Capital has elected to be regulated as a business development company (“BDC”) and was the largest publicly traded BDC by market capitalization as of March 31, 2026. Ares Capital is externally managed by a subsidiary of Ares Management Corporation, a publicly traded, leading global alternative investment manager. For more information about Ares Capital, visit www.arescapitalcorp.com. About Ares Strategic Income Fund ASIF is a private credit solution that benefits from Ares Management Corporation’s leading global Credit platform. ASIF seeks to generate current income, the potential for capital appreciation and attractive risk-adjusted returns through market cycles. ASIF primarily invests in directly originated, senior secured, floating rate loans to U.S. companies. ASIF has elected to be regulated as a BDC and is externally managed by a subsidiary of Ares Management Corporation, a publicly traded, leading global alternative investment manager. For more information about Ares private wealth offering, please visit www.ares.com/private-wealth. About Ares Management Corporation Ares Management Corporation (“Ares”) (NYSE: ARES) is a leading global alternative investment manager offering clients complementary primary and secondary investment solutions across the credit, real estate, private equity and infrastructure asset classes. We seek to advance our stakeholders’ long-term goals by providing flexible capital that supports businesses and creates value for our investors and within our communities. By collaborating across our investment groups, we aim to generate consistent and attractive investment returns throughout market cycles. As of March 31, 2026, Ares Management Corporation’s global platform had over $644 billion of assets under management, with operations across North America, South America, Europe, Asia Pacific and the Middle East. For more information, please visit www.ares.com. Forward-Looking Statements Statements included herein may constitute “forward-looking statements,” which relate to future events or the future performance or financial condition of Ares Capital or ASIF, as applicable. These statements are not guarantees of future performance, condition or results and involve a number of risks and uncertainties that are likely to be affected by unknowable future events and conditions, including elements of the future that are or are not under the control of Ares Capital or ASIF, as applicable. Actual results and conditions may differ materially from those in the forward-looking statements as a result of a number of factors, including those described from time to time in Ares Capital’s and ASIF’s filings with the Securities and Exchange Commission. Undue reliance should not be placed on such forward-looking statements as such statements speak only as of the time when made and are based on information available to Ares Capital and ASIF as of the date hereof and are qualified in their entirety by this cautionary statement. Ares Capital and ASIF undertake no duty to update any forward-looking statements made herein now or in the future. Additional Important Disclosures Past performance is not a guarantee of future results. An investment in Ares Capital and ASIF involves a high degree of risk and therefore should only be undertaken by qualified investors whose financial resources are sufficient to enable them to assume these risks and to bear the loss of all or part of their investment. Ares Capital, ASIF and Ares do not guarantee any level of return or risk on investments and there can be no assurance that the investment objective of Ares Capital or ASIF will be achieved. This press release shall not constitute an offer to sell or a solicitation of an offer to buy any security, the offer and/or sale of which can only be made by definitive offering documentation. The foregoing descriptions of the Ares Capital facility and the ASIF facility are only summaries of the material provisions of such facilities and are qualified in their entirety by reference to the copy of the applicable facility filed as an exhibit to the current reports on Form 8-K filed with the Securities and Exchange Commission on May 26, 2026 by Ares Capital and ASIF, respectively. View source version on businesswire.com: https://www.businesswire.com/news/home/20260526817623/en/ Ares Capital Investor Relations
John Stilmar or Carl Drake
+1-888-818-5298
irarcc@ares.com Ares Wealth Management Solutions
awms@ares.com Media
media@ares.com Original: Ares Capital Corporation and Ares Strategic Income Fund Announce Increases in Size, Enhanced Terms and Extended Maturities for Bank-Led Revolving Credit Facilities
US Market News
1月前
Ares Capital Corporation Prices Public Offering of $800 Million 5.550% Unsecured Notes Due 2030May 4, 2026 4:45 PM
Business Wire Ares Capital Corporation (Nasdaq: ARCC) announced that it has priced an underwritten public offering of $800 million in aggregate principal amount of 5.550% notes due 2030. The notes will mature on January 15, 2030 and may be redeemed in whole or in part at Ares Capital’s option at any time at par plus a “make-whole” premium, if applicable. BofA Securities, Inc., J.P. Morgan Securities LLC, RBC Capital Markets, LLC, SMBC Nikko Securities America, Inc., Truist Securities, Inc., Wells Fargo Securities, LLC, Barclays Capital Inc., BNP Paribas Securities Corp., CIBC World Markets Corp., Mizuho Securities USA LLC, MUFG Securities Americas Inc. and TD Securities (USA) LLC are acting as joint book-running managers for this offering. HSBC Securities (USA) Inc., Morgan Stanley & Co. LLC, Regions Securities LLC, SG Americas Securities, LLC, BNY Mellon Capital Markets, LLC, Capital One Securities, Inc., Credit Agricole Securities (USA) Inc., Goldman Sachs & Co. LLC, ICBC Standard Bank Plc and Natixis Securities Americas LLC are acting as joint lead managers for this offering. Ares Management Capital Markets LLC, Deutsche Bank Securities Inc., ING Financial Markets LLC, R. Seelaus & Co., LLC, AmeriVet Securities, Inc., Citigroup Global Markets Inc., Keefe, Bruyette & Woods, Inc., Loop Capital Markets LLC, Samuel A. Ramirez & Company, Inc. and Siebert Williams Shank & Co., LLC are acting as co-managers for this offering. The offering is expected to close on May 11, 2026, subject to customary closing conditions. Ares Capital expects to use the net proceeds of this offering to repay certain outstanding indebtedness under its debt facilities. Ares Capital may reborrow under its debt facilities for general corporate purposes, which include investing in portfolio companies in accordance with its investment objective. Investors are advised to carefully consider the investment objective, risks, charges and expenses of Ares Capital before investing. The pricing term sheet dated May 4, 2026, the preliminary prospectus supplement dated May 4, 2026, and the accompanying prospectus dated May 1, 2024, each of which have been filed with the Securities and Exchange Commission, contain this and other information about Ares Capital and should be read carefully before investing. The information in the pricing term sheet, the preliminary prospectus supplement, the accompanying prospectus and this press release is not complete and may be changed. The pricing term sheet, the preliminary prospectus supplement, the accompanying prospectus and this press release are not offers to sell any securities of Ares Capital and are not soliciting an offer to buy such securities in any jurisdiction where such offer and sale is not permitted. The offering may be made only by means of a preliminary prospectus supplement and an accompanying prospectus. Copies of the preliminary prospectus supplement (and accompanying prospectus) may be obtained from BofA Securities, Inc., NC1-022-02-25, 201 North Tryon Street, Charlotte, NC 28255-0001, Attn: Prospectus Department, or by calling 1-800-294-1322, or email dg.prospectus_requests@bofa.com; J.P. Morgan Securities LLC, 270 Park Avenue, New York, NY 10017, Attn: Investment Grade Syndicate Desk, 212-834-4533; RBC Capital Markets, LLC, Brookfield Place, 200 Vesey Street, 8th Floor, New York, NY 10281, by toll-free telephone at 1-866-375-6829 or email rbcnyfixedincomeprospectus@rbccm.com; SMBC Nikko Securities America, Inc. at 277 Park Avenue, New York, New York 10172, Attn: NikkoGCNotices@smbcnikko-si.com; Truist Securities, Inc., 50 Hudson Yards, 70th Floor, New York, NY 10001, by toll-free at 1-800-685- 4786; or Wells Fargo Securities, LLC at 1-800-645-3751. ABOUT ARES CAPITAL CORPORATION Founded in 2004, Ares Capital is a leading specialty finance company focused on providing direct loans and other investments in private middle market companies in the United States. Ares Capital’s objective is to source and invest in high-quality borrowers that need capital to achieve their business goals, which oftentimes can lead to economic growth and employment. Ares Capital believes its loans and other investments in these companies can help generate attractive levels of current income and potential capital appreciation for investors. Ares Capital, through its investment manager, utilizes its extensive, direct origination capabilities and incumbent borrower relationships to source and underwrite predominantly senior secured loans but also subordinated debt and equity investments. Ares Capital has elected to be regulated as a business development company (“BDC”) and was the largest publicly traded BDC by market capitalization as of March 31, 2026. Ares Capital is externally managed by a subsidiary of Ares Management Corporation (NYSE: ARES), a publicly traded, leading global alternative investment manager. FORWARD-LOOKING STATEMENTS Statements included herein may constitute “forward-looking statements,” which relate to future events or Ares Capital’s future performance or financial condition. These statements are not guarantees of future performance, condition or results and involve a number of risks and uncertainties. Actual results and conditions may differ materially from those in the forward-looking statements as a result of a number of factors, including those described from time to time in Ares Capital’s filings with the Securities and Exchange Commission. Ares Capital undertakes no duty to update any forward-looking statements made herein. View source version on businesswire.com: https://www.businesswire.com/news/home/20260504684186/en/ INVESTOR RELATIONS CONTACTS Ares Capital Corporation
John Stilmar or Carl Drake
888-818-5298
irarcc@aresmgmt.com Original: Ares Capital Corporation Prices Public Offering of $800 Million 5.550% Unsecured Notes Due 2030
US Market News
2月前
Ares Capital Corporation Schedules Earnings Release For The First Quarter Ended March 31, 2026April 1, 2026 7:00 AM
ACCESS NewswireNEW YORK, NY / ACCESS Newswire / April 1, 2026 / Ares Capital Corporation ("Ares Capital") (NASDAQ:ARCC) announced today that it will report earnings for the first quarter ended March 31, 2026 on Tuesday, April 28, 2026 prior to the opening of the Nasdaq Global Select Market. Ares Capital invites all interested persons to attend its webcast/conference call at 12:00 p.m. (Eastern Time) on the same day to discuss its first quarter ended March 31, 2026 financial results.All interested parties are invited to participate via telephone or the live webcast, which will be hosted on a webcast link located on the Home page of the Investor Resources section of our website at www.arescapitalcorp.com. Please visit the website to test your connection before the webcast. Domestic callers can access the conference call toll free by dialing +1 (800) 245-3047. International callers can access the conference call by dialing +1 (203) 518-9765. All callers are asked to dial in 10-15 minutes prior to the call so that name and company information can be collected and to reference the conference ID ARCCQ126. For interested parties, an archived replay of the call will be available approximately one hour after the end of the call through May 28, 2026 at 5:00 p.m. (Eastern Time) to domestic callers by dialing toll free +1 (800) 727-6189 and to international callers by dialing +1 (402) 220-2671. An archived replay will also be available through May 28, 2026 on a webcast link located on the Home page of the Investor Resources section of Ares Capital's website.ABOUT ARES CAPITAL CORPORATIONFounded in 2004, Ares Capital is a leading specialty finance company focused on providing direct loans and other investments in private middle market companies in the United States. Ares Capital's objective is to source and invest in high-quality borrowers that need capital to achieve their business goals, which often leads to economic growth and employment. Ares Capital believes its loans and other investments in these companies can generate attractive levels of current income and potential capital appreciation for investors. Ares Capital, through its investment manager, utilizes its extensive, direct origination capabilities and incumbent borrower relationships to source and underwrite predominantly senior secured loans but also subordinated debt and equity investments. Ares Capital has elected to be regulated as a business development company ("BDC") and was the largest publicly traded BDC by market capitalization as of March 31, 2026. Ares Capital is externally managed by a subsidiary of Ares Management Corporation (NYSE: ARES), a publicly traded, leading global alternative investment manager. For more information about Ares Capital, visit www.arescapitalcorp.com.CONTACTAres Capital Corporation
Carl G. Drake or John Stilmar
(888) 818-5298
irarcc@aresmgmt.comSOURCE: Ares Capital CorporationView the original press release on ACCESS NewswireOriginal: Ares Capital Corporation Schedules Earnings Release For The First Quarter Ended March 31, 2026
iHub News
3月前
Private Credit Worries Mount; U.S. PCE and GDP Data in Focus – Market Movers: Dow Jones, S&P, Nasdaq, Wall Street FuturesFebruary 20, 2026 5:36 AM
IH Market News
U.S. equity futures moved modestly higher on Friday as investors prepared for key inflation and growth readings, while unease spread through private credit markets following a move by Blue Owl Capital (NYSE:OWL). Oil prices steadied amid ongoing geopolitical strains between Washington and Tehran.
Futures Edge Higher
By 03:09 ET, Dow futures were up 54 points, or 0.1%, S&P 500 futures had added 14 points, or 0.2%, and Nasdaq 100 futures advanced 57 points, or 0.2%.Wall Street’s main indices closed lower in the previous session, pressured by Middle East tensions and a string of earnings reports that analysts at Vital Knowledge characterized as “underwhelming.” Retail giant Walmart (NYSE:WMT) warned that general merchandise inflation had accelerated sharply amid broad U.S. tariffs and issued cautious guidance for the year ahead, weighing on its shares.Apple (NASDAQ:AAPL) also slipped, dragging the S&P 500 lower.On the policy front, Federal Reserve Governor Stephen Miran appeared less dovish on rates. His remarks followed minutes from the Fed’s January meeting showing some officials cautioning that interest rate hikes could still be on the table in coming months. According to Vital Knowledge, this fuels speculation that borrowing costs may be “heading further away” from President Donald Trump’s preference for swift and aggressive cuts, potentially setting the stage for tensions between the White House and the central bank.
Private Credit Sector Under Scrutiny
Attention on Thursday centered on private credit after Blue Owl Capital announced changes to its investor redemption policy. Instead of allowing investors to withdraw a predetermined amount each quarter, the firm said it would decide how much capital to return on a quarterly basis.The announcement sent Blue Owl shares lower, along with other major players such as Ares (NASDAQ:ARCC) and Blackstone (NYSE:BX). The reaction underscored concerns that vulnerabilities may be emerging within the opaque private credit industry, which has extended trillions of dollars in loans to businesses in recent years.Market participants are also increasingly focused on lenders’ exposure to software companies, a segment facing pressure as investors weigh the disruptive impact of new artificial intelligence models.In a post on social media, former PIMCO chief Mohamed El-Erian questioned whether the shift in Blue Owl’s redemption terms could mark a “canary-in-the-coalmine” moment reminiscent of early warning signs before the global financial crisis.“There’s plenty to think about here, starting with the risks of an investing phenomenon in advanced (not developing) markets that has gone too far overall (short answer: yes), to the approaches being taken by specific firms (lots of differences, yet subject to the “market for lemons” risk),” El-Erian wrote.
Oil Prices Steady
Crude prices stabilized and remained on track for their first weekly gain in three weeks as tensions between the U.S. and Iran heightened supply concerns.Brent crude was last trading broadly unchanged at $71.66 per barrel, while U.S. West Texas Intermediate slipped 0.1% to $66.35. Both benchmarks hovered near their highest levels since early August and were poised to post weekly gains exceeding 6%.Tensions escalated after Trump warned on Thursday that “really bad things” would happen if Iran failed to reach an agreement on its nuclear program within 10 to 15 days, raising the possibility of military action.Any escalation involving Iran — a key OPEC producer — could disrupt shipments through the Strait of Hormuz, a strategic chokepoint for around 20% of global oil flows.
Inflation Data in Spotlight
Friday’s economic calendar is headlined by the release of the personal consumption expenditures (PCE) price index.The core PCE measure, closely monitored by the Federal Reserve, is expected to rise 0.3% month on month in December, compared with 0.2% in November. On an annual basis, it is projected at 3.0%, up from 2.8%, according to estimates from the Bureau of Economic Analysis.Recent data showed that headline consumer price inflation increased more slowly than expected in January, bolstering hopes that the Fed could begin cutting rates as early as June. However, a stronger-than-anticipated labor market report earlier in the week had tempered those expectations, suggesting the central bank — which reduced rates several times in 2025 — may delay further easing until later in the year.
GDP Growth Expected to Slow
Investors are also awaiting an advance estimate of U.S. fourth-quarter GDP, which is expected to show a moderation in growth.Economists forecast that the economy expanded at an annualized rate of 2.8% in the October–December period, down from 4.4% in the third quarter.In the previous quarter, consumer spending remained a primary driver of growth, while a narrowing trade deficit — partly linked to President Trump’s broad tariff policies — also supported activity.Despite the overall resilience, some analysts argue that the recovery has taken on a “K” shape. Higher-income households and large corporations have powered much of the expansion, while lower-income Americans continue to contend with elevated prices and subdued hiring conditions. Smaller businesses, meanwhile, face rising import costs and tighter labor supply amid ongoing immigration restrictions.Blue Owl Capital stock priceWalmart stock priceApple stock priceAres Capital Corporation stock priceBlackstone stock price
Original: Private Credit Worries Mount; U.S. PCE and GDP Data in Focus – Market Movers: Dow Jones, S&P, Nasdaq, Wall Street Futures
iHub News
4月前
Ares Capital posts Q4 results in line with forecasts, revenue narrowly below consensusFebruary 4, 2026 10:46 AM
IH Market News
Ares Capital Corporation (NASDAQ:ARCC) reported fourth-quarter 2025 results that broadly met market expectations, with core earnings matching forecasts while revenue came in slightly under analysts’ projections.The business development company delivered core earnings per share of $0.50 for the quarter, in line with consensus estimates. Revenue totaled $793 million, just below the $795.2 million analysts had expected, but up from $759 million in the same quarter a year earlier. Shares rose 1.62% in pre-market trading following the update.Net investment income for the quarter reached $370 million, or $0.52 per share, compared with $363 million, or $0.55 per share, in the fourth quarter of 2024. On a GAAP basis, net income declined to $0.41 per share from $0.55 per share a year earlier.During the quarter, Ares Capital originated approximately $5.8 billion of new investment commitments, with $4.1 billion funded. The fair value of its investment portfolio stood at $29.5 billion as of December 31, 2025, up from $26.7 billion at the end of 2024.“Our strong fourth quarter results capped another successful year for our company. We originated a record level of new investment commitments, maintained strong credit performance with stable non-accruals, and generated a healthy level of profits, including core earnings in excess of our dividends,” said Kort Schnabel, Chief Executive Officer of Ares Capital.The company’s board declared a first-quarter 2026 dividend of $0.48 per share, payable on March 31, 2026, to shareholders of record as of March 13, 2026, keeping its payout unchanged.At year-end, loans on non-accrual status accounted for 1.8% of total investments at amortized cost, or 1.2% at fair value, compared with 1.7% and 1.0%, respectively, at the end of 2024.Ares Capital Corporation stock price
Original: Ares Capital posts Q4 results in line with forecasts, revenue narrowly below consensus