<SEC-DOCUMENT>0001104659-24-057535.txt : 20240506
<SEC-HEADER>0001104659-24-057535.hdr.sgml : 20240506
<ACCEPTANCE-DATETIME>20240506171752
ACCESSION NUMBER:		0001104659-24-057535
CONFORMED SUBMISSION TYPE:	497AD
PUBLIC DOCUMENT COUNT:		2
FILED AS OF DATE:		20240506
DATE AS OF CHANGE:		20240506

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			ARES CAPITAL CORP
		CENTRAL INDEX KEY:			0001287750
		ORGANIZATION NAME:           	
		IRS NUMBER:				331089684
		STATE OF INCORPORATION:			MD
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		497AD
		SEC ACT:		1933 Act
		SEC FILE NUMBER:	333-279023
		FILM NUMBER:		24918637

	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>
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<TYPE>497AD
<SEQUENCE>1
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<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; text-align: right"><B>Filed pursuant to Rule 497(a)</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right"><B>Registration No. 333-279023</B></P>

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

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

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0pt 0"><IMG SRC="tm2413516d6_497adimg01.jpg" ALT=""><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 12pt"></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; text-align: center"><B>&nbsp;</B></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>$850 MILLION 5.950% UNSECURED NOTES DUE 2029</B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">New York, NY&mdash;May 6, 2024&mdash; Ares Capital Corporation (Nasdaq:
ARCC) announced that it has priced an underwritten public offering of $850 million in aggregate principal amount of 5.950% notes due 2029.
The notes will mature on July 15, 2029, 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; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">BofA Securities, Inc., J.P. Morgan Securities LLC, SMBC Nikko Securities
America, Inc., Wells Fargo Securities, LLC, Mizuho Securities USA LLC, MUFG Securities Americas Inc., RBC Capital Markets, LLC and Truist
Securities, Inc. are acting as joint book-running managers for this offering. CIBC World Markets Corp., ICBC Standard Bank Plc, Morgan
Stanley &amp; Co. LLC, Barclays Capital Inc., BNP Paribas Securities Corp., BNY Mellon Capital Markets, LLC, Capital One Securities, Inc.,
Goldman Sachs &amp; Co. LLC, Natixis Securities Americas LLC, Regions Securities LLC, SG Americas Securities, LLC and U.S. Bancorp Investments,
Inc. are acting as joint lead managers for this offering. ING Financial Markets LLC, R. Seelaus &amp; Co., LLC, Academy Securities, Inc.,
Citigroup Global Markets Inc., Comerica Securities, Inc., Deutsche Bank Securities Inc., Keefe, Bruyette &amp; Woods, Inc., Loop Capital
Markets LLC, Samuel A. Ramirez &amp; Company, Inc. and Siebert Williams Shank &amp; Co., LLC are acting as co-managers for this offering.
The offering is expected to close on May 13, 2024, 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; 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: justify"><B>Investors are advised to carefully consider
the investment objective, risks, charges and expenses of Ares Capital before investing. The pricing term sheet dated May 6, 2024, the
preliminary prospectus supplement dated May 6, 2024, and the accompanying prospectus dated May 1, 2024, 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; text-align: justify">&nbsp;</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; 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, Inc., NC1-022-02-25, 201 North Tryon Street, 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, Inc. at 277 Park Avenue, New York, New York 10172, Attn: Debt Capital
Markets, 1-888-868-6856; or Wells Fargo Securities, LLC at 1-800-645-3751.</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"><B>ABOUT ARES CAPITAL CORPORATION</B></P>

<P STYLE="font: 13.5pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Founded in 2004, 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 times can lead
to economic growth and employment. Ares Capital believes its loans and other investments in these companies can help 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 was the largest publicly traded BDC by market capitalization as of March 31, 2024. 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"><B>FORWARD-LOOKING STATEMENTS</B></P>

<P STYLE="font: 13.5pt 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. 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: 13.5pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

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

<P STYLE="font: 13.5pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">John Stilmar or Carl Drake</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">888-818-5298</P>

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

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

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