Ares Capital plans 2031 senior unsecured notes

Ares Capital Corporation is marketing a new SEC-registered senior unsecured bond offering with a long 5-year tenor, maturing on January 15, 2031.

Rhea-AI Filing Summary

Ares Capital Corporation is marketing a new SEC-registered senior unsecured bond offering with a long 5-year tenor, maturing on January 15, 2031. The fixed-rate notes are guided at an initial price talk of about T+180 basis points and are rated Baa2/BBB/BBB (Moody’s/S&P/Fitch). Settlement is expected on September 9, 2025 on a T+5 basis, with denominations of $2,000 and integral multiples of $1,000.

The bonds include a change-of-control feature and are callable via a make-whole provision and a one-month par call. Ares Capital plans to use the proceeds to repay outstanding indebtedness. The deal is being led by BofA Securities, J.P. Morgan, RBC, SMBC Nikko, and Wells Fargo, and is offered under an effective shelf registration through a preliminary prospectus supplement and base prospectus that investors are urged to read carefully.

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

What type of securities is Ares Capital Corporation (ARCC) offering?

Ares Capital Corporation is offering SEC-registered senior unsecured fixed-rate notes with a long 5-year tenor.

When do the new Ares Capital (ARCC) notes mature?

The new Ares Capital notes are scheduled to mature on January 15, 2031.

How does Ares Capital plan to use proceeds from this bond issue?

Ares Capital plans to use the proceeds to repay outstanding indebtedness.

What are the indicative pricing terms for the Ares Capital notes?

The initial price talk (IPTs) is around T+180 basis points for these fixed-rate notes.

What ratings do the new Ares Capital senior notes have?

The notes are rated Baa2 by Moody’s, BBB by S&P, and BBB by Fitch, with Stable/Stable/Positive outlooks, respectively.

When is settlement expected for the Ares Capital bond offering?

Settlement is expected on a T+5 basis, specified as September 9, 2025.

What documents should investors review before buying the Ares Capital notes?

Investors are advised to read the preliminary prospectus supplement dated September 2, 2025 and the accompanying prospectus dated May 1, 2024 carefully before investing.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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Accepted by SEC EDGAR 09/02/2025 - 05:26 PM Learn about SEC filing dates

Filed pursuant to Rule 497(a)

Registration No. 333-279023

Rule 482ad

[TEXT OF COMMUNICATION SENT VIA BLOOMBERG]

New Issue: Ares Capital Corporation

Issuer: Ares Capital Corporation

Format: SEC Registered - Senior Unsecured

Ratings*: Baa2/BBB/BBB (Stable/Stable/Positive) (Moody’s/S&P/Fitch)

Size: USD Benchmark

Tenor: Long 5 Year

Maturity: January 15, 2031

Change of Control: Yes, 100% (See Red)

Active Bookrunners: BofA (B&D) / JPM / RBC / SMBC / WFS
IPTs: T+180 bps area

Coupon: Fixed

UOP: Repay outstanding indebtedness

Denominations: $2000 x $1000

Optional Redemption: Make-Whole; One Month Par Call

Settlement: T+5 (September 9, 2025)

Timing: Today’s Business

Sales into Canada: Yes, exemption

Investors are advised to carefully consider the investment objective, risks, charges and expenses of Ares Capital Corporation before investing. The preliminary prospectus supplement dated September 2, 2025, together with an accompanying prospectus dated May 1, 2024, which have been filed with the Securities and Exchange Commission, contain this and other information about Ares Capital Corporation and should be read carefully before investing.

The information in the preliminary prospectus supplement and the accompanying prospectus, and in this announcement, is not complete and may be changed. The preliminary prospectus supplement, the accompanying prospectus and this announcement are not offers to sell any securities of Ares Capital Corporation and are not soliciting an offer to buy such securities in any jurisdiction where such offer and sale is not permitted.

* Note: A securities rating is not a recommendation to buy, sell or hold securities and may be subject to revision or withdrawal at any time.

A shelf registration statement relating to these securities is on file with the Securities and Exchange Commission and has become effective. 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, 383 Madison Avenue, New York, NY 10179, 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: Debt Capital Markets, 1-212-224-5135; or Wells Fargo Securities, LLC at 1-800-645- 3751.

ANY DISCLAIMERS OR OTHER NOTICES THAT MAY APPEAR AFTER THIS MESSAGE ARE NOT APPLICABLE TO THIS COMMUNICATION AND SHOULD BE DISREGARDED. SUCH DISCLAIMERS OR OTHER NOTICES WERE AUTOMATICALLY GENERATED AS A RESULT OF THIS COMMUNICATION BEING SENT VIA BLOOMBERG OR ANOTHER EMAIL SYSTEM.