Ares Capital Corporation announced that its wholly owned subsidiary, Ares Capital JB Funding LLC, has closed a new eight-year, $200 million revolving funding facility with Sumitomo Mitsui Banking Corporation (SMBC), an affiliate of Sumitomo Mitsui Financial Group, Inc.

The facility has a three-year reinvestment period ending January 20, 2015 and a final maturity of January 20, 2020. The reinvestment period and final maturity are both subject to two one-year extensions by mutual agreement. The facility will be secured by first lien assets and has a stated interest rate of LIBOR (with no floor) plus 2.125%.

“We are very pleased to establish a new lending relationship with SMBC,” said Michael Arougheti, president of Ares Capital. “SMBC’s strong financial commitment expands our borrowing capacity, further diversifies our funding sources and improves our overall funding costs. We look forward to having a mutually rewarding, long term relationship with SMBC.”

In addition to this new $200 million facility, Ares Capital has an $810 million revolving credit facility and its wholly owned subsidiary, Ares Capital CP Funding, has a $500 million revolving funding facility, for total revolving debt capacity of approximately $1.5 billion, subject to borrowing base and leverage restrictions.

Ares Capital is a leading specialty finance company that provides one-stop financing solutions to U.S. middle-market companies and private equity sponsors.

Sumitomo Mitsui Banking Corporation and its group companies offer a broad range of financial services centered on banking.