Ares Capital Ups Wells Fargo Funding To $1.3B

Law360, New York (October 14, 2011, 2:00 PM EDT) -- Investment firm Ares Management LLC’s business development arm said Friday it had increased its funding from Wells Fargo Bank NA to $1.3 billion to take advantage of a spike in the demand for debt financing.

Ares Capital Corp. upped its Wells Fargo revolving funding facility from $400 million to $500 million, which complements an $810 million revolving credit facility for a total borrowing capacity of $1.3 billion.

“The increased size of this five-year facility provides us with additional financial flexibility and the opportunity for future growth...
To view the full article, register now.