ARES STRATEGIC INCOME FUND 8-K

What Happened
Ares Strategic Income Fund announced on January 29, 2026 that it issued $700,000,000 aggregate principal amount of 5.550% notes due April 15, 2031 under a Ninth Supplemental Indenture with U.S. Bank Trust Company, N.A. The notes pay interest semiannually (April 15 and October 15), begin interest payments April 15, 2026, are direct unsecured obligations of the Fund, and were sold in a private placement that closed January 29, 2026. The Fund also entered into a Registration Rights Agreement with the initial purchasers’ representatives to register an exchange offer for the notes within 365 days, and concurrently executed an interest-rate swap to convert the exposure tied to the notes.

Key Details

• Notes: $700,000,000 principal; 5.550% annual rate; maturity April 15, 2031; interest semiannually starting April 15, 2026.
• Use of proceeds: expected to repay outstanding borrowings under the Fund’s credit facilities; Fund may reborrow for general corporate purposes, including investments.
• Swap: $700,000,000 notional with Wells Fargo Bank, N.A.; Fund receives fixed 5.550% and pays floating one‑month SOFR + 1.8750%; swap matures April 15, 2031.
• Registration rights require the Fund to file a registration statement and complete an exchange offer for registered notes within 365 days or pay additional interest if obligations are not met. Change-of-control repurchase rights apply if both a change of control occurs and the notes are downgraded below investment grade by the three major rating agencies.

Why It Matters
This filing shows the Fund raised long-term debt financing and immediately hedged the fixed-rate exposure via a swap, effectively creating floating-rate economic exposure while locking in funding through 2031. Repaying credit facility balances may reduce near-term reliance on bank borrowings, but the new notes are unsecured and add a principal repayment obligation at maturity. The registration rights and change-of-control provisions affect liquidity and potential costs for noteholders; failure to meet registration timing could increase the Fund’s interest expense. Investors should note the additional debt on the Fund’s balance sheet and the swap that alters interest-rate sensitivity.