In Q3/20, Ares Capital made $706 million in new investment commitments, of which $447 million were funded, including nine new portfolio companies and 15 existing portfolio companies. Of the $706 million in new commitments made during Q3/20, 94% were in first lien senior secured loans.
During Q2/20, Ares Capital made $867 million in new investment commitments, of which $741 million were funded, including five new portfolio companies and 17 existing portfolio companies. Of the new commitments, 69% were in first lien senior secured loans.
According to documents filed with the United States Bankruptcy Court for the Northern District of Texas, Fort Worth Division, Ares Capital will serve as administrative agent on a debtor-in-possession credit agreement for Vista Proppants and Logistics.
Teligent entered into amendments related to its first lien revolving credit agreement with ACF Finco I LP as administrative agent and its definitive second lien credit agreement with Ares Capital as administrative agent.
J.P. Morgan led a syndicate of 37 bank participants in increasing and extending Ares Capital’s revolving credit facility. The facility was increased by $240 million to $3.6 billion and the final maturity date was extended to March 30, 2025.
Varagon Capital Partners served as joint lead arranger and joint bookrunner on financing to support Freeman Spogli & Company’s acquisition of a majority interest in Five Star Food Service. Ares Capital also provided financing.
Ares Capital reported GAAP new income of $153 million, net investment income of $203 million and net realized and unrealized losses of $50 million for the fourth quarter of 2018.
Pharmaceutical company Teligent entered into a new senior-secured asset-based first lien revolver with ACF Finco I as administrative agent and a definitive second lien credit agreement with Ares Capital as administrative agent.
Ares Capital completed all necessary amendments to its $2.1 billion revolving credit facility led by Bank of America, J.P. Morgan and SunTrust Robinson Humphrey. It also amended its $1 billion revolver led by Wells Fargo.
Antares Capital, Madison Capital and Ares Capital provided debt financing to support MarketCast Group’s acquisition of Turnkey Intelligence, a sports research and advisory firm.