Business Context and Reporting Period
Company: Ares Capital Corporation
Filing Type: Form 8-K (Current Report)
Date of Report: January 18, 2011
Event: Amendment to the revolving funding facility of its indirect wholly owned subsidiary, Ares Capital CP Funding LLC ("CP Funding").
Key Financial Metrics
This filing does not report revenue, profit, cash flow, margins, or overall liquidity metrics. The only specific financial figure disclosed relates to the debt facility:
- Revolving Funding Facility Size: $400 million
Material Changes
On January 18, 2011, CP Funding amended its $400 million Revolving Funding Facility with the following structural changes:
- Reinvestment Period: Extended to three years, ending January 18, 2014.
- Reinvestment Extension Options: Two one-year extension options available, subject to mutual consent.
- Maturity Date: Extended to January 18, 2016.
- Maturity Extension Options: Two one-year extension options available, subject to mutual consent.
Guidance, Outlook, and Risks
The filing contains no management guidance, outlook, or discussion of risks and contingencies beyond the terms of the facility amendment. The document notes that the information provided is furnished and not deemed "filed" for purposes of Section 18 of the Securities Exchange Act of 1934, except as expressly incorporated by reference.
Investor Verification Checklist
- Verify the specific terms of the two one-year extension options for both the reinvestment period and maturity date.
- Confirm the conditions required for "mutual consent" to exercise extension options.
- Review the full text of the press release (Exhibit 99.1) for any additional covenants or interest rate implications not detailed in the 8-K summary.