Ares Capital Corporation announced that it has entered into an amended and restated senior secured revolving credit facility with certain lenders, which, among other things, increased the size of the facility from $810 million to $900 million, extended the facility’s revolving period from January 2013 to May 2015 and extended the final maturity from January 2013 to May 2016, including a one year amortization period beginning in May 2015.

In addition, the stated interest rate on the facility was reduced from LIBOR plus 3.00% under a pricing grid to LIBOR plus 2.25% with no pricing grid and there continues to be no LIBOR floor.

The facility also contains an accordion feature that permits, under certain conditions, the expansion of commitments under the facility to $1.35 billion.

In addition to this $900 million credit facility, Ares Capital, through wholly owned financing subsidiaries, has two other revolving funding facilities with total commitments of $700 million, bringing total revolving credit facility capacity to $1.6 billion with a blended stated interest rate on these commitments of LIBOR plus 2.3%.