ARES CAPITAL CORP 8-K

What Happened Ares Capital Corporation (ARCC) reported on Form 8-K that on February 25, 2026 it and its wholly owned subsidiary Ares Capital JB Funding LLC entered into Amendment No. 13 to the Loan and Servicing Agreement with Sumitomo Mitsui Banking Corporation and other lenders. The amendment increases the committed facility size and slightly reduces the interest spreads; the full amendment is filed as Exhibit 10.1 to the 8-K (filed February 27, 2026).

Key Details

• Commitments under the SMBC Funding Facility increased from $1.1 billion to $1.6 billion.
• Interest-rate spreads were reduced: from 1.80% to 1.75% over SOFR, and from 0.80% to 0.75% over the applicable base rate.
• The “accordion” capacity (ability to expand the facility in permitted circumstances) was raised from a $1.3 billion maximum to a $2.5 billion maximum.
• Borrowings remain subject to the facility’s covenants and the leverage restrictions in the Investment Company Act of 1940; other material terms were unchanged.

Why It Matters For investors, the amendment increases ARCC’s near-term liquidity and borrowing flexibility by raising committed capacity and optional expansion limits, while modestly lowering borrowing costs. At the same time, any new borrowings will still be governed by existing covenants and regulatory leverage limits, so the increase in capacity does not automatically mean higher leverage—draws remain constrained by law and the facility’s terms. The change was reported as a material definitive agreement and noted under the filing’s Item 2.03 (direct financial obligation).