Ares Capital Corporation’s $650 Million Bond Offering


Kirkland & Ellis advised Ares Capital Corporation (Nasdaq:ARCC) in the pricing of an underwritten public offering of $650 million in aggregate principal amount of 4.200% notes due 2024.

BofA Securities, Inc., J.P. Morgan Securities LLC, Wells Fargo Securities, LLC, BMO Capital Markets, LLC, Mizuho Securities USA LLC, MUFG Securities Americas Inc., SMBC Nikko Securities America, Inc. and SunTrust Robinson Humphrey, Inc. acted as joint book-running managers for this offering. Barclays Capital Inc., BNP Paribas Securities Corp., Goldman Sachs & Co. LLC, HSBC Securities (USA) Inc., Morgan Stanley & Co. LLC, Natixis Securities Americas LLC, RBC Capital Markets, LLC, Regions Securities LLC and SG Americas Securities, LLC acted as joint lead managers for this offering. Capital One Securities, Inc., Citigroup Global Markets Inc., Deutsche Bank Securities Inc., ICBC Standard Bank Plc, Santander Investment Securities Inc., U.S. Bancorp Investments, Inc., BNY Mellon Capital Markets, LLC, CIBC World Markets Corp., Comerica Securities, Inc., Credit Suisse Securities (USA) LLC, JMP Securities LLC and Keefe, Bruyette & Woods, Inc. acted as co-managers for this offering.

Ares Capital is a leading specialty finance company that provides one-stop debt and equity financing solutions to U.S. middle market companies and power generation projects.

The Kirkland team was led by transactional partners Monica Shilling (Picture) and Christopher Wu, with associates Van Whiting, Yoona Kim, Anum Chaudhry and Zachary Glasser; and tax partners Michael Beinus and Meredith Levy, and associate Amanda Milhet.

Involved fees earner: Michael Beinus – Kirkland & Ellis; Anum Chaudhry – Kirkland & Ellis; Zachary Glasser – Kirkland & Ellis; Yoona Kim – Kirkland & Ellis; Meredith Levy – Kirkland & Ellis; Amanda Milhet – Kirkland & Ellis; Van Whiting – Kirkland & Ellis; Christopher Wu – Kirkland & Ellis; Monica Shilling – Proskauer Rose LLP;

Law Firms: Kirkland & Ellis; Proskauer Rose LLP;

Clients: Ares Capital Corporation ;