Ares Capital Corporation announced that it plans to make a public offering of 9M shares of its common stock. 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. Morgan Stanley & Co., BofA Securities, UBS Investment Bank, RBC Capital Markets, and Wells Fargo Securities are acting as joint lead book-running managers for this offering. Keefe, Bruyette & Woods, A Stifel Company, and Raymond James & Associates are acting as joint book-running managers for this offering. Goldman Sachs & Co., Janney Montgomery Scott, J.P. Morgan and Oppenheimer & Co. are acting as co-managers for this offering.
Published first on TheFly
See the top stocks recommended by analysts >>
Read More on ARCC: