Ares Capital amended its senior secured credit facility, extending the expiration period of the $1.6 billion revolver to March 30, 2022 and increasing the total size of facility by $25 million to $2.1 billion.
Barings was joint lead arranger and administrative agent on first lien senior secured credit facilities to support Genstar Capital’s investment in Professional Datasolutions. Ares Capital was joint lead arranger and administrative agent on the second lien credit facilities.
Ares Capital purchased the remaining loans of the Senior Secured Loan Fund, effectively concluding the joint venture with GE.
Reuters reported that regulatory scrutiny hasn’t slowed banks and alternative lenders from underwriting highly leveraged U.S. loans, with one third of buyout loans in Q1/17 having leverage of more than 7.0 times.
In conjunction with Ares Capital’s acquisition of American Capital, the company increased its credit facility from $2.2 billion to $3.5 billion.
Reuters reported that Antares Capital is arranging a $395 million term loan for August Sportswear, which will replace its existing $367 million unitranche loan with GE Capital and Ares Capital.
Ares Capital served as administrative agent for a $1.075 billion unitranche credit facility to support the acquisition of Qlik by private equity firm Thomas Bravo.
Ares Capital served as administrative and collateral agent, joint lead arranger and joint bookrunner for the $1.075 billion unitranche credit facility in support of Thoma Bravo’s acquisition of Qlik.