Ares Capital Corp. (ARCC) said Thursday announced a public offering of 16.65 million common shares. Ares Capital added that it granted underwriters an option to purchase an additional 2.49 million shares.
Ares Capital expects to use the net proceeds of the offering to repay certain outstanding indebtedness under its debt facilities and, to the extent not used for such purpose, for general corporate purposes, including investing in portfolio companies in accordance with its investment objective.
For the offering, BofA Merrill Lynch, J.P. Morgan, Morgan Stanley and UBS Investment Bank are serving as joint book-running managers.
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