<SEC-DOCUMENT>0001104659-25-086481.txt : 20250902
<SEC-HEADER>0001104659-25-086481.hdr.sgml : 20250902
<ACCEPTANCE-DATETIME>20250902172635
ACCESSION NUMBER:		0001104659-25-086481
CONFORMED SUBMISSION TYPE:	497AD
PUBLIC DOCUMENT COUNT:		1
FILED AS OF DATE:		20250902
DATE AS OF CHANGE:		20250902

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			ARES CAPITAL CORP
		CENTRAL INDEX KEY:			0001287750
		ORGANIZATION NAME:           	
		EIN:				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:		251286711

	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>tm2524994d5_497ad.htm
<DESCRIPTION>497AD
<TEXT>
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<P STYLE="font-size: 10pt; margin: 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt/12pt Calibri, Helvetica, Sans-Serif; text-align: right; margin-top: 0pt; margin-bottom: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black"><B>Filed
pursuant to Rule&#160;497(a)</B></FONT></P>

<P STYLE="font: 10pt/12pt Calibri, Helvetica, Sans-Serif; text-align: right; margin-top: 0pt; margin-bottom: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black"><B>Registration
No.&#160;333-279023</B></FONT></P>

<P STYLE="font: 10pt/12pt Calibri, Helvetica, Sans-Serif; text-align: right; margin-top: 0pt; margin-bottom: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black"><B>Rule&#160;482ad</B></FONT></P>

<P STYLE="font: 10pt/12pt Calibri, Helvetica, Sans-Serif; margin-top: 0pt; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt/12pt Calibri, Helvetica, Sans-Serif; text-align: center; margin-top: 0pt; margin-bottom: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black">[TEXT
OF COMMUNICATION SENT VIA BLOOMBERG]</FONT></P>

<P STYLE="font: 10pt/12pt Calibri, Helvetica, Sans-Serif; margin-top: 0pt; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt/12pt Calibri, Helvetica, Sans-Serif; margin-top: 0pt; margin-bottom: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; text-decoration: underline solid; color: Black"><B>Guidance:
Ares Capital Corporation</B></FONT></P>

<P STYLE="font: 10pt/12pt Calibri, Helvetica, Sans-Serif; margin-top: 0pt; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt/12pt Calibri, Helvetica, Sans-Serif; margin-top: 0pt; margin-bottom: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black">Guidance:
T+160 (#) bps</FONT></P>

<P STYLE="font: 10pt/12pt Calibri, Helvetica, Sans-Serif; margin-top: 0pt; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt/12pt Calibri, Helvetica, Sans-Serif; margin-top: 0pt; margin-bottom: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black">Issuer:
Ares Capital Corporation</FONT></P>

<P STYLE="font: 10pt/12pt Calibri, Helvetica, Sans-Serif; margin-top: 0pt; margin-bottom: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black">Format:
SEC Registered - Senior Unsecured</FONT></P>

<P STYLE="font: 10pt/12pt Calibri, Helvetica, Sans-Serif; margin-top: 0pt; margin-bottom: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black">Ratings*:
Baa2/BBB/BBB (Stable/Stable/Positive) (Moody&#8217;s/S&amp;P/Fitch)</FONT></P>

<P STYLE="font: 10pt/12pt Calibri, Helvetica, Sans-Serif; margin-top: 0pt; margin-bottom: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black">Size:
USD Benchmark</FONT></P>

<P STYLE="font: 10pt/12pt Calibri, Helvetica, Sans-Serif; margin-top: 0pt; margin-bottom: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black">Tenor:
Long 5 Year</FONT></P>

<P STYLE="font: 10pt/12pt Calibri, Helvetica, Sans-Serif; margin-top: 0pt; margin-bottom: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black">Maturity:
January&#160;15, 2031</FONT></P>

<P STYLE="font: 10pt/12pt Calibri, Helvetica, Sans-Serif; margin-top: 0pt; margin-bottom: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black">Change
of Control: Yes, 100% (See Red)</FONT></P>

<P STYLE="font: 10pt/12pt Calibri, Helvetica, Sans-Serif; margin-top: 0pt; margin-bottom: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black">Active
Bookrunners: BofA (B&amp;D) / JPM / RBC / SMBC / WFS</FONT></P>

<P STYLE="font: 10pt/12pt Calibri, Helvetica, Sans-Serif; margin-top: 0pt; margin-bottom: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black">IPTs:
T+160 bps area</FONT></P>

<P STYLE="font: 10pt/12pt Calibri, Helvetica, Sans-Serif; margin-top: 0pt; margin-bottom: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black">Coupon:
Fixed</FONT></P>

<P STYLE="font: 10pt/12pt Calibri, Helvetica, Sans-Serif; margin-top: 0pt; margin-bottom: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black">UOP:
Repay outstanding indebtedness</FONT></P>

<P STYLE="font: 10pt/12pt Calibri, Helvetica, Sans-Serif; margin-top: 0pt; margin-bottom: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black">Denominations:
$2000 x $1000</FONT></P>

<P STYLE="font: 10pt/12pt Calibri, Helvetica, Sans-Serif; margin-top: 0pt; margin-bottom: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black">Optional
Redemption: Make-Whole; One Month Par Call</FONT></P>

<P STYLE="font: 10pt/12pt Calibri, Helvetica, Sans-Serif; margin-top: 0pt; margin-bottom: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black">Settlement:
T+5 (September&#160;9, 2025)</FONT></P>

<P STYLE="font: 10pt/12pt Calibri, Helvetica, Sans-Serif; margin-top: 0pt; margin-bottom: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black">Timing:
Today&#8217;s Business</FONT></P>

<P STYLE="font: 10pt/12pt Calibri, Helvetica, Sans-Serif; margin-top: 0pt; margin-bottom: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black">Sales
into Canada: Yes, exemption</FONT></P>

<P STYLE="font: 10pt/12pt Calibri, Helvetica, Sans-Serif; margin-top: 0pt; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt/12pt Calibri, Helvetica, Sans-Serif; margin-top: 0pt; margin-bottom: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black"><B>Investors
are advised to carefully consider the investment objective, risks, charges and expenses of Ares Capital Corporation before investing.
The preliminary prospectus supplement dated September&#160;2, 2025, together with an accompanying prospectus dated May&#160;1, 2024,
which have been filed with the Securities and Exchange Commission, contain this and other information about Ares Capital Corporation
and should be read carefully before investing.</B></FONT></P>

<P STYLE="font: 10pt/12pt Calibri, Helvetica, Sans-Serif; margin-top: 0pt; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt/12pt Calibri, Helvetica, Sans-Serif; margin-top: 0pt; margin-bottom: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black">The
information in the preliminary prospectus supplement and the accompanying prospectus, and in this announcement, is not complete and may
be changed. The preliminary prospectus supplement, the accompanying prospectus and this announcement are not offers to sell any securities
of Ares Capital Corporation and are not soliciting an offer to buy such securities in any jurisdiction where such offer and sale is not
permitted.</FONT></P>

<P STYLE="font: 10pt/12pt Calibri, Helvetica, Sans-Serif; margin-top: 0pt; margin-bottom: 0pt">&nbsp;</P>

<!-- Field: Rule-Page --><DIV STYLE="margin-top: 3pt; margin-bottom: 3pt; width: 25%"><DIV STYLE="font-size: 1pt; border-top: Black 1pt solid">&nbsp;</DIV></DIV><!-- Field: /Rule-Page -->

<P STYLE="font: 10pt/12pt Calibri, Helvetica, Sans-Serif; margin-top: 0pt; margin-bottom: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black">*
Note: A securities rating is not a recommendation to buy, sell or hold securities and may be subject to revision or withdrawal at any
time.</FONT></P>

<P STYLE="font: 10pt/12pt Calibri, Helvetica, Sans-Serif; margin-top: 0pt; margin-bottom: 0pt">&nbsp;</P>

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<P STYLE="font: 10pt/12pt Calibri, Helvetica, Sans-Serif; margin-top: 0pt; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt/12pt Calibri, Helvetica, Sans-Serif; margin-top: 0pt; margin-bottom: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black"><B>A
shelf registration statement relating to these securities is on file with the Securities and Exchange Commission and has become effective.
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,&#160;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 </B></FONT><B><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">dg.prospectus_requests@bofa.com<FONT STYLE="color: Black">;
J.P. Morgan Securities LLC, 383 Madison Avenue, New York, NY 10179, Attn: Investment Grade Syndicate Desk, 212-834-4533; RBC Capital
Markets, LLC, Brookfield Place, 200 Vesey Street, 8th Floor, New York, NY 10281, by toll-free telephone at 1-866-375-6829 or email rbcnyfixedincomeprospectus@rbccm.com;
SMBC Nikko Securities America,&#160;Inc. at 277 Park Avenue, New York, New York 10172, Attn: Debt Capital Markets, 1-212-224-5135; or
Wells Fargo Securities, LLC at 1-800-645-3751.</FONT></FONT></B></P>

<P STYLE="font: 10pt/12pt Calibri, Helvetica, Sans-Serif; margin-top: 0pt; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt/12pt Calibri, Helvetica, Sans-Serif; margin-top: 0pt; margin-bottom: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black">ANY
DISCLAIMERS OR OTHER NOTICES THAT MAY&#160;APPEAR AFTER THIS MESSAGE ARE NOT APPLICABLE TO THIS COMMUNICATION AND SHOULD BE DISREGARDED.
SUCH DISCLAIMERS OR OTHER NOTICES WERE AUTOMATICALLY GENERATED AS A RESULT OF THIS COMMUNICATION BEING SENT VIA BLOOMBERG OR ANOTHER
EMAIL SYSTEM.</FONT></P>

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