Monitor future 10-Q filings for actual commercial paper issuance amounts and interest costs. The program diversifies funding sources but has not been drawn upon yet — no immediate earnings impact.
Price Chart
Executive Summary
Ares Capital Corporation established a $1 billion inaugural commercial paper program on June 4, 2026, allowing the issuance of short-term unsecured notes with maturities up to 397 days. The program provides a new, lower-cost funding source for general corporate purposes, backstopped by the company's existing $5.5 billion revolving credit facility. No notes have been issued yet under the program.
Key Financial Metrics
Key Facts
- Ares Capital established a $1 billion commercial paper program on June 4, 2026.
- The program allows issuance of short-term unsecured notes with maturities up to 397 days.
- Notes will rank pari passu with other senior unsecured indebtedness.
- The $5.5 billion revolving credit facility serves as a liquidity backstop.
- No notes have been issued under the program as of the filing date.
- Net proceeds will be used for general corporate purposes.
Financial Impact
Up to $1 billion in additional short-term funding capacity established; no actual borrowing yet.
Risk Factors
- Commercial paper markets can freeze during credit stress, limiting access.
- Increased short-term debt could increase refinancing risk if not managed with adequate backstop facilities.
Market Snapshot
Documents Analyzed
This report is based on 6 SEC documents filed with EDGAR.
| Document | Accession Number |
|---|---|
| 8-K Filing (Primary) | 0001628280-26-041366 |
| Document: arcc-20260604.htm | 0001628280-26-041366 |
| Document: arcc-uscppressreleasexex991.htm | 0001628280-26-041366 |
| Document: 0001628280-26-041366-index-headers.html | 0001628280-26-041366 |
| Document: 0001628280-26-041366-index.html | 0001628280-26-041366 |
| Document: 0001628280-26-041366.txt | 0001628280-26-041366 |
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Aug 9, 2026 7w ago | Institutional Cluster | $19.98 $19.74 | ▼ −1.23% | ▼ −0.31% | $18.86 (−5.61%) |
Jul 22, 2026 10w ago | 8-K | $18.61 $19.78 | ▲ +6.29% | ▲ +2.98% | $18.86 (+1.34%) |
Jun 22, 2026 14w ago | 8-K | $17.89 $18.98 | ▲ +6.09% | ▲ +4.93% | $18.86 (+5.42%) |
Jun 6, 2026 16w ago | 8-K | $18.77 $18.56 | ▼ −1.12% | ▼ −2.75% | $18.86 (+0.48%) |
May 26, 2026 18w ago | 8-K | $18.82 $18.05 | ▼ −4.09% | ▼ −2.14% | $18.86 (+0.21%) |
May 15, 2026 20w ago | DEFA14A | $18.72 $18.62 | ▼ −0.53% | ▼ −2.12% | $18.86 (+0.75%) |
May 15, 2026 20w ago | DEFA14A | $18.72 $18.62 | ▼ −0.53% | ▼ −2.12% | $18.86 (+0.75%) |
May 11, 2026 20w ago | 8-K | $18.77 $18.57 | ▼ −1.09% | ▲ +0.64% | $18.86 (+0.48%) |
Apr 28, 2026 22w ago | 8-K | $18.67 $18.86 | ▲ +1.02% | ▼ −4.44% | $18.86 (+1.02%) |
Apr 28, 2026 22w ago | 8-K | $18.92 $18.86 | ▼ −0.32% | ▼ −5.77% | $18.86 (−0.32%) |
US Market Status
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