Daily News: November 22, 2013

GE Capital, Ares Capital Increase SSLP Funds to $11B


The Senior Secured Loan Program (SSLP), jointly managed by an affiliate of Ares Capital and an affiliate of GE Capital, announced that its total available capital has increased from $9 billion to $11 billion. In connection with this expansion, GE Capital and an affiliate agreed to make available to the SSLP up to approximately $8.7 billion and Ares Capital agreed to make available to the SSLP up to approximately $2.3 billion.

During Q3/13, the SSLP closed eight financing transactions, including refinancings of existing portfolio companies, totaling $1.4 billion. Since January 1, 2010, the SSLP has committed approximately $11.9 billion to middle market borrowers, including $2.8 billion year to date through September 30, 2013.

To read the full news release click here.