<SEC-DOCUMENT>0001104659-21-131117.txt : 20211028
<SEC-HEADER>0001104659-21-131117.hdr.sgml : 20211028
<ACCEPTANCE-DATETIME>20211028170305
ACCESSION NUMBER:		0001104659-21-131117
CONFORMED SUBMISSION TYPE:	497AD
PUBLIC DOCUMENT COUNT:		2
FILED AS OF DATE:		20211028
DATE AS OF CHANGE:		20211028

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:		497AD
		SEC ACT:		1933 Act
		SEC FILE NUMBER:	333-256733
		FILM NUMBER:		211359283

	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
</SEC-HEADER>
<DOCUMENT>
<TYPE>497AD
<SEQUENCE>1
<FILENAME>tm2131209d6_497ad.htm
<DESCRIPTION>497AD
<TEXT>
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<P STYLE="margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right"><B>Filed pursuant to Rule&nbsp;497(a)</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right"><B>Registration No.&nbsp;333-256733</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right"><B>Rule&nbsp;482ad</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;<IMG SRC="tm2131209d6_497adimg001.jpg" ALT=""></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>ARES CAPITAL CORPORATION PRICES PUBLIC OFFERING
OF</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>$700.0 MILLION 3.200% UNSECURED NOTES DUE 2031</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">New York, NY&mdash;October&nbsp;28, 2021&mdash;
Ares Capital Corporation (Nasdaq: ARCC) announced that it has priced an underwritten public offering of $700.0 million in aggregate principal
amount of 3.200% notes due 2031. The notes will mature on November&nbsp;15, 2031 and may be redeemed in whole or in part at Ares Capital&rsquo;s
option at any time at par plus a &ldquo;make-whole&rdquo; premium, if applicable.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin: 0pt 0">BofA Securities,&nbsp;Inc., J.P. Morgan Securities LLC, SMBC Nikko
Securities America,&nbsp;Inc., Wells Fargo Securities, LLC, Mizuho Securities USA LLC, MUFG Securities Americas Inc., RBC Capital Markets,
LLC and Truist Securities,&nbsp;Inc. are acting as joint book-running managers for this offering. BNP Paribas Securities Corp., Capital
One Securities,&nbsp;Inc., CIBC World Markets Corp., Goldman Sachs&nbsp;&amp; Co. LLC, HSBC Securities (USA) Inc.,&nbsp;ICBC Standard
Bank Plc, Natixis Securities Americas LLC, R. Seelaus&nbsp;&amp; Co., LLC, Regions Securities LLC, SG Americas Securities, LLC and U.S.
Bancorp Investments,&nbsp;Inc. are acting as joint lead managers for this offering. Barclays Capital Inc., BNY Mellon Capital Markets,
LLC,&nbsp;ING Financial Markets LLC, Morgan Stanley&nbsp;&amp; Co. LLC, Santander Investment Securities Inc., Academy Securities,&nbsp;Inc.,
Citigroup Global Markets Inc., Comerica Securities,&nbsp;Inc., Credit Suisse Securities (USA) LLC, Deutsche Bank Securities Inc., JMP
Securities LLC and Keefe, Bruyette&nbsp;&amp; Woods,&nbsp;Inc. are acting as co-managers for this offering. The offering is expected to
close on November&nbsp;4, 2021, subject to customary closing conditions.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin: 0pt 0">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.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left"><B>Investors are advised to carefully consider
the investment objective, risks, charges and expenses of Ares Capital before investing. The pricing term sheet dated October&nbsp;28,
2021, the preliminary prospectus supplement dated October&nbsp;28, 2021 and the accompanying prospectus dated June&nbsp;3, 2021, each
of which have been filed with the Securities and Exchange Commission, contain this and other information about Ares Capital and should
be read carefully before investing.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left"><B>The information in the pricing term sheet,
the preliminary prospectus supplement, the accompanying prospectus and this press release is not complete and may be changed.&nbsp; The
pricing term sheet, the preliminary prospectus supplement, the accompanying prospectus and this press release are not offers to sell any
securities of Ares Capital and are not soliciting an offer to buy such securities in any jurisdiction where such offer and sale is not
permitted.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin: 0pt 0"><B>The offering may be made only by means of a preliminary prospectus
supplement and an accompanying prospectus. Copies of the preliminary prospectus supplement (and accompanying prospectus) may be obtained
from BofA Securities,&nbsp;Inc., NC1-004-03-43, 200 North College Street, 3rd floor, Charlotte NC 28255-0001, Attn: Prospectus Department,
or by calling 1-800-294-1322, or email dg.prospectus_requests@bofa.com; J.P. Morgan Securities LLC, 383 Madison Avenue, New York NY 10179,
Attn: Investment Grade Syndicate Desk, 1-212-834-4533; SMBC Nikko Securities America,&nbsp;Inc. at 277 Park Avenue, New York, New York
10172, Attn: Debt Capital Markets, 1-888-868-6856; or Wells Fargo Securities, LLC, 608 2nd Avenue South, Suite&nbsp;1000, Minneapolis,
MN 55402, at 1-800-645-3751, or email wfscustomerservice@wellsfargo.com.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="text-transform: uppercase"><B>About
Ares Capital Corporation</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; background-color: white">Ares Capital is a leading specialty finance
company focused on providing direct loans and other investments in private middle market companies in the United States. Ares Capital&rsquo;s
objective is to source and invest in high-quality borrowers that need capital to achieve their business goals, which often leads to economic
growth and employment. Ares Capital believes its loans and other investments in these companies can generate attractive levels of current
income and potential capital appreciation for investors. Ares Capital, through its investment manager, utilizes its extensive, direct
origination capabilities and incumbent borrower relationships to source and underwrite predominantly senior secured loans but also subordinated
debt and equity investments. Ares Capital has elected to be regulated as a business development company (&ldquo;BDC&rdquo;) and is the
largest BDC by market capitalization as of September&nbsp;30, 2021. Ares Capital is externally managed by a subsidiary of Ares Management
Corporation (NYSE: ARES), a publicly traded, leading global alternative investment manager.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; background-color: white"><B>FORWARD-LOOKING STATEMENTS</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Statements included herein may constitute &ldquo;forward-looking statements,&rdquo;
which relate to future events or Ares Capital&rsquo;s future performance or financial condition. These statements are not guarantees of
future performance, condition or results and involve a number of risks and uncertainties, including the impact of the COVID-19 pandemic
and related changes in base interest rates and significant market volatility on Ares Capital&rsquo;s business, Ares Capital&rsquo;s portfolio
companies, Ares Capital&rsquo;s industry and the global economy. Actual results and conditions may differ materially from those in the
forward-looking statements as a result of a number of factors, including those described from time to time in Ares Capital&rsquo;s filings
with the Securities and Exchange Commission. Ares Capital undertakes no duty to update any forward-looking statements made herein.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; background-color: white; color: #0d0d0d"><B>INVESTOR RELATIONS</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; background-color: white">Ares Capital Corporation</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Carl G. Drake or John Stilmar<BR>
888-818-5298</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><U>irarcc@aresmgmt.com</U></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

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