Ares Capital Corporation Provides $375 Million Credit Facility to ATI
Ares Capital Corporation entered into a new credit agreement to provide $375 million in senior secured credit facilities to ATI, maturing in 2030.
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Ares Capital to Acquire MidCap Financial Investment for $2.6 Billion
Ares Capital Corporation has announced an agreement to acquire MidCap Financial Investment Corporation for approximately $2.6 billion.
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Ares Capital Q3 Earnings: 3 Key Takeaways for Long-Term Investors
Ares Capital announced a $2.6 billion acquisition of MidCap Financial Investment Corporation, adding over 200 portfolio companies to strengthen its direct lending platform. The company reported increased deal screening activity (25% year-over-year growth) and secured favorable debt financing with $750 million in unsecured notes at the lowest BDC spread. Management maintains confidence in dividend sustainability and positions the company well for future capital deployment.
Ares Capital is Making a $2.6 Billion Acquisition. Here’s What it Means for its 10%-Yielding Dividend.
Ares Capital agreed to acquire MidCap Financial for $2.6 billion in a cash-and-stock deal, paying $10.88 per share (30.1% premium). The merger will expand Ares Capital's portfolio to over $31 billion across 800+ companies, increase core earnings per share, and provide further support for its 10%+ dividend yield. While the deal introduces some risk from MidCap's recent dividend cut and credit weaknesses, it should strengthen Ares Capital's competitive position as a leading BDC.