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Sumitomo Mitsui Inks $150MM Upsize for Ares Capital

January 03, 2020, 09:00 AM

Ares Capital Corporation and Ares Capital JB Funding LLC, a wholly owned subsidiary of the Registrant, entered into an amendment to the documents governing ACJB LLC’s revolving funding facility with Sumitomo Mitsui Banking Corporation and each of the other parties thereto.

The SMBC Amendment, among other things, (a) increased the commitments under the facility from $500 million to $650 million, with the ability to upsize to $1 billion subject to receiving the necessary consents, and (b) modified certain loan portfolio concentration limits.

Ares Capital Corporation is a specialty finance company that is a closed-end, non-diversified management investment company. The Company’s investment objective is to generate both current income and capital appreciation through debt and equity investments.

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