Ares Capital completed a refinancing of its approximately $708.7 million ADL CLO 1, issuing new floating-rate notes under an amended and restated 2038 indenture and adding a $139.0 million Class A-1-LR secured term loan. The reset extends the CLO maturity to 2038, allows reinvestment through July 25, 2031, and supports continued portfolio management by Ares Capital Management, which has waived management fees from ADL CLO 1. Proceeds redeemed the CLO’s outstanding 2036 notes, funded required accounts and covered transaction expenses. Administrative and management agreements were updated to align with the new structure.
Agreement 1: Ares Capital Resets $708.7M ADL CLO 1 Under New 2038 Indenture
- Agreement type: Amended and Restated Indenture and Security Agreement for ADL CLO 1 (CLO notes due 2038)
- Counterparty: U.S. Bank
- Signed / Effective: Jul 17 2026 / Jul 17 2026
- Duration / Termination: Through Jul 25 2038
- Reason: Refinance and extend CLO financing
Agreement 2: Ares Capital Adds $139M Class A-1-LR Term Loan Maturing 2038 for CLO Reset
- Agreement type: Secured term loan credit agreement (Class A-1-LR Loans)
- Counterparty: U.S. Bank, as agent, and participating lenders
- Signed / Effective: Jul 17 2026 / Jul 17 2026
- Duration / Termination: Through Jul 25 2038
- Reason: Support CLO reset and financing flexibility
Agreement 3: Ares Capital Amends Collateral Administration for ADL CLO 1 Reset
- Agreement type: Amended and Restated Collateral Administration Agreement
- Counterparty: U.S. Bank
- Signed / Effective: Jul 17 2026 / Jul 17 2026
- Reason: Align administration with new CLO structure
Agreement 4: Ares Capital Amends Asset Management Agreement; Fees Waived for ADL CLO 1
- Agreement type: First Amendment to Asset Management Agreement
- Counterparty: Ares Capital Management
- Signed / Effective: Jul 17 2026 / Jul 17 2026
- Reason: Enhance CLO economics and align terms
Original SEC Filing:
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