0001104659-18-021610.txt : 20180402 0001104659-18-021610.hdr.sgml : 20180402 20180402080038 ACCESSION NUMBER: 0001104659-18-021610 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 20180402 ITEM INFORMATION: Regulation FD Disclosure ITEM INFORMATION: Financial Statements and Exhibits FILED AS OF DATE: 20180402 DATE AS OF CHANGE: 20180402 FILER: COMPANY DATA: COMPANY CONFORMED NAME: ARES CAPITAL CORP CENTRAL INDEX KEY: 0001287750 IRS NUMBER: 331089684 STATE OF INCORPORATION: MD FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 814-00663 FILM NUMBER: 18727262 BUSINESS ADDRESS: STREET 1: 245 PARK AVENUE, 44TH FLOOR CITY: NEW YORK STATE: NY ZIP: 10167 BUSINESS PHONE: 2127507300 MAIL ADDRESS: STREET 1: 245 PARK AVENUE, 44TH FLOOR CITY: NEW YORK STATE: NY ZIP: 10167 8-K 1 a18-9410_18k.htm 8-K

UNITED STATES
SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, DC 20549

FORM 8-K

CURRENT REPORT

Pursuant to Section 13 or 15(d) of the
Securities Exchange Act of 1934

Date of report (Date of earliest event reported) April 2, 2018

ARES CAPITAL CORPORATION

(Exact Name of Registrant as Specified in Charter)

Maryland		814-00663		33-1089684
(State or Other Jurisdiction of Incorporation)		(Commission File Number)		(IRS Employer Identification No.)

245 Park Avenue, 44th Floor, New York, NY		10167
(Address of Principal Executive Offices)		(Zip Code)

Registrant’s telephone number, including area code (212) 750-7300

N/A

(Former Name or Former Address, if Changed Since Last Report)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):

o Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

o Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

o Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

o Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Indicate by check mark whether the registrant is an emerging growth company as defined in as defined in Rule 405 of the Securities Act of 1933 (§ 230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§ 240.12b-2 of this chapter).

Emerging growth company o

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. o

Item 7.01 Regulation FD Disclosure.

On April 2, 2018, the registrant issued a press release, included herewith as Exhibit 99.1, and by this reference incorporated herein.

The information disclosed under this Item 7.01, including Exhibit 99.1 hereto, is being furnished and shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934 and shall not be deemed incorporated by reference into any filing made under the Securities Act of 1933, except as expressly set forth by specific reference in such filing.

Item 9.01 Financial Statements and Exhibits.

(d) Exhibits:

Exhibit Number		Description

99.1		Press Release, dated April 2, 2018

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

	ARES CAPITAL CORPORATION

Date: April 2, 2018
	By:	/s/ Penni F. Roll
	Name:	Penni F. Roll
	Title:	Chief Financial Officer

EX-99.1 2 a18-9410_1ex99d1.htm EX-99.1

Exhibit 99.1

Ares Capital Corporation Intends to Recommend Proceeding with
Financing Flexibility Provided for in New BDC Law

Ares Capital Sees New BDC Law as Significant Positive for Capital Availability to
Middle Market Companies

Ares Capital Expects to Use Increased Flexibility to Incrementally Invest in

Lower Risk Assets

NEW YORK — April 2, 2018 — Ares Capital Corporation (NASDAQ: ARCC) announced today that it plans to recommend a path for approval of a certain provision contained in the recently passed Small Business Credit Availability Act (“SBCAA”) that was signed into law on March 23, 2018. The SBCAA includes a provision that permits business development companies (“BDCs”) to seek approval to operate with higher leverage ratios and provides certain securities reforms intended to improve offering flexibility. Having completed its evaluation of the various alternatives, Ares Capital intends to discuss specific plans for implementation with its Board of Directors and other constituents.

“We anticipate the SBCAA will enable BDCs to provide more capital to middle market companies while improving portfolio diversification and capital markets access for the BDC industry,” said Michael Arougheti, Chief Executive Officer and President of Ares Management, L.P. and Co-Chairman of Ares Capital. “The passage of this legislation provides BDCs a choice to operate with greater flexibility and meaningfully enhances the growth prospects for our industry.”

“We believe this legislation can significantly enhance our growth opportunities by permitting us to invest in a segment of the middle market comprised of lower risk and lower yielding loans that were previously not economic for Ares Capital,” said Kipp deVeer, Chief Executive Officer of Ares Capital. “After a careful analysis, we believe that the increased financing flexibility will be good for our shareholders and we look forward to further communications on this matter once we announce our plans.”

“If approved, we plan to manage Ares Capital in the same thoughtful and disciplined manner that we have over the last 13 years,” commented Penni Roll, Chief Financial Officer of Ares Capital. “While the SBCAA may allow the industry to access additional financing, BDCs will continue to have modest leverage relative to other financial institutions or vehicles.”

About Ares Capital Corporation

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. Ares Capital originates and invests in senior secured loans, mezzanine debt and,

to a lesser extent, equity investments through its national direct origination platform. Ares Capital’s investment objective is to generate both current income and capital appreciation through debt and equity investments primarily in private companies. Ares Capital has elected to be regulated as a business development company (“BDC”) and as of December 31, 2017, was the largest BDC by total assets and market capitalization. Ares Capital is externally managed by a subsidiary of Ares Management, L.P. (NYSE:ARES), a publicly traded, leading global alternative asset manager. For more information about Ares Capital, visit www.arescapitalcorp.com. However, the contents of such website are not and should not be deemed to be incorporated by reference herein.

Contact:

Investors:

Ares Capital Corporation

Carl Drake

(888) 818-5298, cdrake@aresmgmt.com

John Stilmar

(888) 818-5298, jstilmar@aresmgmt.com

Mendel Communications

Bill Mendel

(212) 397-1030, bill@mendelcommunications.com